A misunderstanding of bottom-fishing copycats.
Recently I have seen many people shouting $FET, saying that there are many positives about it, or that AI is the top stream in the financial market recently, and Fetch.ai is just related to it.
I would like to express my opinion on this.
Take the housing price as an example. When a popular real estate project rises from 500,000 to 1 million, people dare not buy it.
Very good, then hype it up to 2.5 million per unit and promote it, so that everyone believes that a house here is worth a million. Then deliberately lower the house price to 800,000, and at this time, grandpas and aunts or many people think they have picked up a bargain and rush to buy it.
So, this real estate project went from being unsold at 500,000 to being taken over by 800,000.
The same is true for some copycat coins. Of course, I am not criticizing the Fetch.ai project. I just think that it is not very cost-effective to buy $FET at present.
Because the price of $FET is very similar to the example we gave, if it was raised from 0.07 to 0.7 and no one bought it, then it was raised to 3.5 and then fell back to 1.3, so many KOLs shouted slogans and bought it, which I think is not very wise.
Do you remember what I emphasized in the channel before, that after many copycats are listed on Binance Futures, there will definitely be a rise, and the price will be 3-4 times higher than the opening price.
Now, $FET is a good proof of this point of view, 0.07 to 3.5, fifty times, too crazy.
Therefore, when I do investment research, especially for small currencies, if there is a big rise in Binance Futures, I generally don’t want to let everyone ambush or invest, unless its fundamentals are really good, or I see the idea of the market maker to raise it again.
If you have already bought something like FET, which has risen dozens of times in the short term, and hope that it will explode again, then I should advise you to be careful.
