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Cryptocurrency discussions / Re: Crypto Market on the Rise, But Proceed with Caution!
« on: May 03, 2024, 05:11:10 PM »I agree with you, we must be as careful as possible with new coins, because they have a very big risk. I will not deny that some new projects can be hugely successful and attract many investors, but that is only a small part of the many new projects that exist.It's also worth noting that the crypto market is still relatively small, so it's not necessary to make large investments to see significant returns as the market improves. It's recommended to be cautious and to focus on incredible buying opportunities when they arise.the simple thing that we must always remember is thta "avoid new tokens/coin". Avoid here is not unreasonable because after all, new projects will usually be very high risk. and almost all of those projects might fail, just based on hype, be delisted, don't have strong fundamentals, and don't develop. So, however, we will have difficulty choosing which one is really worth it. we can say if it is really high risk. So whatever it is, we must be able to select which projects the city will invest in. Moreover, if they only have a small market cap and trading volume, then this will really be high risk.
So once again, if we are not high risk takers, my advice is to stay away from projects like that and new coins whose condition is not clear, because there is a risk of losing money.
If we want to invest in new coins, then we must be able to ensure that we are ready for all risks. And we also have to bring money that has been prepared for the worst case scenario.
What you say is something that most people don't understand, so many still fall for scammers. They lack knowledge and are always carried away by what other people say. They are not able to take the risk they are taking.
They always think of being purely positive, forgetting the risk that is always included in the money that will be used in the crypto to be bought, something that was not prepared to be honest.