In the last month, every single #cryptocurrency hit its floor level. Then, just 10 days ago, everything skyrocketed! What we’re seeing now is a nightmare for small investors with limited funds and those just getting into #crypto trading. Prices aren’t at maximum or super high, but at the same time they are far-far from the floor levels we saw just 3-4 weeks ago; up to anywhere from 40% to 100% higher than just 2-3 weeks ago!
If you see someone complaining about a loss, it’s often a sign that they are beginners who likely invested just a day or two ago without much understanding of cryptocurrency or trading. Many of these individuals lack financial literacy and tend to invest money they can’t afford to lose money meant for basic survival needs.
They’re often influenced by exaggerated stories, such as hearing about someone turning 24$ in $PEPE into millions within minutes. For them, any time frame longer than a few minutes feels like an eternity, and if their investment doesn’t turn their last 7.68$ into a fortune, they perceive it as a catastrophe. A slight dip, even a loss of 47 cents, feels disastrous!
While this example might seem exaggerated, unfortunately, it’s not far from reality. This behavior highlights the importance of financial planning and understanding the risks involved in crypto trading.
On the other hand, anyone who invested in cryptocurrency a month ago, or was trading for a longer period, regardless of the coin they bought/HODL, has likely seen significant gains and at least doubled their money - EVERYONE did it!
Anyway, if you have spare cash and are willing to invest for the long term, there is a possibility of making a profit. By “long term,” I mean waiting for 2-3 years down the road.
For those looking for quick money and fast profits, forget about crypto for now. You’d be better off literally gambling on football, basketball, or other sports or even hitting the #casino
The “get rich quick” space in #crypto is gone for the time being - #HODL