The Weird Case of Cryptos to Buy “Bellow 1$”
Of the things that make me truly wonder on the quality of reports in crypto sphere, nothing stands out more prominently than the provocatively deceptive catch phrase of coins bellow 1$ !
What exactly does this mean? What is the argument behind the concept that bellow dollar value coins are somehow preferable as an investment?
The answer to me is simple. For people that wish to invest little time or are prone to superficial judgements this somehow is connected to the idea that low unit price means an underdeveloped project with potential. Or maybe you can get more, so you can make more! Nothing could be further from the truth.
There are concepts that do bring some value in an analysis. Market Cap of a coin, Volume, Market Dominance percentage even… but there is no such thing as a connection between the unit price of $VET and the respective unit price of $DOT
The phrase is in its nature misleading and is often applied with that exact motive in mind.
NO – YOU SHOOLD NOT BUY INTO A PROJECT BASED ON UNIT PRICE
You need not to be an analyst to understand that. Do whatever choice you want but at the very least try to avoid being misled with such obvious fallacy’s
That and... keep an eye on $MTL for the next few days 😉
As always… not a financial advise. DYOR and have fun in crypto wonderland!
