$Abomination
Banned
- Joined
- Sep 11, 2024
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I was scrolling through Coinmarketcap.com and I see a project get voted as "most innovative" for 2024. It was a project I was actually familiar with before and was intrigued at first but later realized it will have only very modest success.
It pretty much just prints paper notes that stand for a certain amount of crypto.
Anyways as soon as I saw this "award" granted I immediately thought to myself... "Is this a top mover recently?" Lo and behold! It's up over 80% in the last month. I got all the info I needed from that.
People are actual cattle istfg. A project's price goes up and people immediately start praising it like it's the best thing since sliced bread. The price goes down and they cry and abandon it first chance they get. This is why very few get rich from crypto investing - people don't know how to DYOR and they don't have conviction. If top movers convince you a project is good and market downturns make you rethink the project you're with the truth is you're not built for crypto or investing
Long term the winning altcoins will always be the one with the best ideas. Crypto is way too volatile to look at price graphs and be like "oh that there graph looks like a winner". Nothing can be concluded from a price graph other than a rug pull occurred or it already moonshot.
The only people who will succeed in crypto investing (or investing in general) are people who look at projects and go like "Oh yeah this idea is the future" and don't get swayed by low IQcels who make more noise than cats at night during mating season.
It pretty much just prints paper notes that stand for a certain amount of crypto.
Anyways as soon as I saw this "award" granted I immediately thought to myself... "Is this a top mover recently?" Lo and behold! It's up over 80% in the last month. I got all the info I needed from that.
People are actual cattle istfg. A project's price goes up and people immediately start praising it like it's the best thing since sliced bread. The price goes down and they cry and abandon it first chance they get. This is why very few get rich from crypto investing - people don't know how to DYOR and they don't have conviction. If top movers convince you a project is good and market downturns make you rethink the project you're with the truth is you're not built for crypto or investing
Long term the winning altcoins will always be the one with the best ideas. Crypto is way too volatile to look at price graphs and be like "oh that there graph looks like a winner". Nothing can be concluded from a price graph other than a rug pull occurred or it already moonshot.
The only people who will succeed in crypto investing (or investing in general) are people who look at projects and go like "Oh yeah this idea is the future" and don't get swayed by low IQcels who make more noise than cats at night during mating season.