Quote from: God bless u on May 28, 2024, 06:43:09 AM

Quote from: bSpend on May 19, 2024, 01:25:06 PM

I came across one channel on telegram known as "Crypto Confessions" and on this channel, one can find alot of real life confessions from real people in crypto, while I was scrolling and reading all the confessions, some very interesting, while alot of others; not so interesting, I came across this one above and it really captivated me, I tried to imagine what this dude must be feeling like if at all what he said was true.

St $80,000, he still didn't take profit, can we attribute or say the cause of his loss was due to him being too greedy, or being too patient, or over trusting or believing in the coin/token he bought?

BTW, for those that might want to join the channel, here - https://t.me/anonymous_crypto_confessions

That's the real problem that people face while investing into meme coins. First of all they're so unpredictable that you cannot say what will be their price tomorrow. When it comes to the investment then it is full of risks and uncertainties.

People often get the loss but in rare cases when they get the profit their greed kills the profit. They start to treat the meme coins as real useful altcoins. So you have to take the profits and get exit from the market.

Yes we cannot expect the profits we want from the market. The main thing in investing is to get rid of greed to get more. If we feel we have made enough profits, we should go out and enjoy the results or reinvest in assets with stronger fundamentals. I don't think it's right to treat meme coins as a truly useful asset, as we know, many people like to pump up prices like whales playing with these prices. In essence, whales won't play with this meme coin for long either. just looking at the opportunity of how he can get enough profit from there.