Are new altcoins being too risky? Current market trend
Are new altcoins being too risky? Current market trend
I am active again after a while and a lot has changed but the apathy of tier two altcoins remains same and it’s absolute sham because most of the tier two altcoins have hit rockbottom and to a point of no return and some trusted coins like LUNA, FTX, Celsius, and BlockFI etc where people have lost their life long savings and on the other hand we have tokens like Solano, XRP, XLM, BNB, ADA and Matic who are heading on path of recovery. It’s clear that you go with top altcoins (even this involves risk like fate of LUNA, FTX, etc) though there are slight risk of losing but probability of losing everything is even more in other altcoins whose prices are dipped within few seconds after their launch. It’s better to invest in established coins rather than newbies.
Please share your opinion.
Extremely risky! Most of the altcoins that are popping now are scams, so be careful.
Some also are just here for hype, they are riding the current market situation or what is trending and stealing people’s money.
New altcoins tend to have a more high chance of failing compared to altcoins that already exist today and make sure to do research also especially to altcoins that already have use case.
Altcoins are always risky, especially if they’re new. That’s not a market trend, it’s just something that new projects all have. Investing in well-established coins or in new coins is really just a matter of what you want, if you want more profits, investing in new altcoins would be better since if they were to be say, the next ETH,XRP or something, then you’d gain big if you were an early investor. If you want something more stable and relatively safe, then invest on coins with a well-built reputation, but don’t expect insane gains. Just like how it is in Bitcoin, you can’t exactly see 1000% or 10000% gains anymore. There is the saying the greater the risk, the greater the reward after all.
Investing in altcoins that may not have future opportunities is very risky. Even a top altcoin like LUNA could be a Scam due to a developer error and FTX went bankrupt with its many scandals. I prefer to get into Ethereum because it is the king of altcoins and has definite growth over other altcoins which are not necessarily as good. Or the main investment is of course just Bitcoin, there is nothing better. For the long term, Bitcoin is highly recommended, we will see a halving occur and it will be a moment when Bitcoin experiences a significant increase like the previous halving.