Post
Topic
Board Beginners & Help
Re: Why can Altcoins fail?
by
Hatchy
on 10/07/2024, 22:32:27 UTC
There are many of them which I have no interest to mention any of them. People can just go through the exchanges the old coins are listed and see how disappointing they are now. Many of the new coins now will also become old and not get to all-time high when bitcoin is getting to all-time high. Altcoins are like pump and dump. The ones that are successful now will later not get to all-time high which means if you make money from altcoins, sell them and do not expect their all-time high again or for a long period of time like decades or forever.

Altcoins which are flooding the market today are just there to make profits for its developers. It's why I usually don't advise anyone to purchase altcoin for the long term or even buy them in the first place. Yea they might be pumping over 1k x at the moment but sooner or later once the potential investors removes their profits it leave these coins worthless as shit. I remember a project I had invested in the past, it's a funny one though. I made good profits from it but decided to wait a bit for even more profit since it already got the hype. Unfortunately days after, it started dumping. Yea at first we expect every market to experience a slight retest before pumping once again. But that was the end. The coins market cap flew down from 900k to about 75$. Which was a huge loss at my end. Since then I have stayed away from theses new projects rushing into the market. And will advice anyone considering them, to rethink.