The cryptocurrency market offers incredible opportunities for those who invest in the right projects at the right time, often turning small investments into huge fortunes. Many people have the mindset that they could have been one of these lucky investors, but this kind of thinking can lead to failure in crypto. To truly succeed, you must avoid chasing quick gains.
One of the biggest mistakes in crypto is jumping on hyped projects too late. People often sell their existing coins to buy into the latest trend, only to see the hype die down and prices fall. For example, Solana was a hot topic last year, and previously, Layer 1s and meme coins like Shiba Inu and Dogecoin were highly sought after. But by the time everyone is talking about a project, it's often too late to profit from it.
The lesson here is that once you notice a pump, you've likely missed the opportunity. Many investors, myself included, have learned this the hard way by switching to trendy projects, only to watch their new investments drop in value while the projects they abandoned bounce back stronger than ever.
