If you are new to crypto, chances are you first encountered it through Bitcoin (BTC). But then the inexperienced crypto investor will look for gems that can rise quickly and hard to enjoy the great crypto successes of others. The past few weeks have seen another wave of new investors pour in, looking for quick profits.
Quick wins or gambling
Cryptocurrencies like dogecoin (DOGE) and shiba inu (SHIB) are quite volatile. Suppose an investor enters the crypto market at the end of October, they will see a nice movement and experience the enormous hype about such a cryptocurrency on social media. The choice to join seems logical. The investment grows and grows, but then collapses again just as hardlike this week. The opinion of these investors may now be that investing in crypto is a big wild gamble.
Although some altcoins can sometimes rise sharply, one has to wonder what is behind this rise. Is it hype? In that case, the resulting increase is usually not sustainable. Is it adoption? Then the chance of sustainable increases is more likely. But to find out what is driving the growth of a crypto price and to be able to profit from it (by taking profits every now and then) you need to do research.
Ask yourself questions like; what can I use the cryptocurrency for? and, how many tokens will be circulating in the market? All of this ultimately determines the likelihood of an investment being successful or not. Some questions are easy to answer, some are not. It is therefore always nice to get help with these kinds of issues.
Insiders in discussion
And that’s why I love the Insiders community. The Insiders are made up of a wide variety of people, from experienced analysts to savvy researchers and Crypto Coaches. This often leads to interesting discussions about possible next hard climbers and more.
While this probably won’t ease the pain for investors who got wet with coins like shiba inu this week, the Insiders area is a great place to delve further into what crypto has to offer. Curious about what an Insiders membership entails? You can take a look at this link for 30 days. Till there!
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