Beware! The cruel truth of the cryptocurrency market: Taking Filecoin (FIL) as a mirror, many cryptocurrencies may have entered the road of extinction?
Investors in the cryptocurrency world, the alarm bells have sounded! In this volatile market, most cryptocurrencies are quietly heading towards the fate of zero, and the glory of the past bull market has become a thing of the past.
Select winners and stay away from bubbles
When sailing in the ocean of cryptocurrency, only wise choices can withstand the wind and waves. Investing in cryptocurrencies with practical application scenarios and solid technical support, rather than blindly chasing market hotspots, is the steady way.
The rise and fall of altcoins
Touch the top of Coinmarketcap or Coingecko, and a picture of the rise and fall of altcoins will come to your eyes. They once danced in the heat of hype, but were eclipsed in the next wave, and eventually inevitably slid into the abyss of zero value. Even in the top 50 cryptocurrencies by market value, there are many former stars who are now dim.
Filecoin (FIL) warning
Take Filecoin as an example. This once top cryptocurrency has now lost its luster and has fallen to 38th place. Its price has plummeted from $189 at its peak to only $3.61, which is very sad. This shocking chart is undoubtedly a profound warning to all investors.
The market has changed, and investment needs to be cautious
We may have reached the middle of this round of cryptocurrency bull market, or even further. If the market really has a turnaround, it has already quietly appeared. Therefore, the wisest way to test the altcoins in your hands is to compare them with the trend of Bitcoin. If your investment fails to keep up with the pace of Bitcoin, or even lags far behind, then it is time to re-examine your investment strategy.
In this volatile cryptocurrency market, only by keeping a clear mind and keen insight can you be invincible in this war without gunpowder.
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