We should invest cautiously
Assalamu Alaikum
How are you? By Allah's grace, I'm doing very well. I hope everyone has heard the news. Just four days ago, the price of OM Coin suddenly dropped by almost 100 percent and there was a lot of writing about it on Twitter.
The founder of this project has already been sued and maybe a big step can be taken against him. But we don't care about who is being punished or who is being sued. What we care about is what will happen to so many people who have lost money? Many people may know that the market cap of this coin was 6 billion dollars, but in just one hour, this 6 billion dollars completely disappeared. That means that these 6 billion dollars have gone into the pockets of those who owned this project. Now that so many people have lost money from this, they will not get this money back. Because if it happened that you had kept your money with someone and later it was found that he had gone somewhere else without giving you your money, then you could have taken legal action or brought the money back, but since this is trading, since you invested here yourself and since you have lost due to the price drop of this token, it means that you are completely responsible for this. Although the price of this token has been rigged, but still no one will listen to you, which means you cannot ask anyone for your money back and this is the biggest problem in the crypto market. Although there have been such stories with many coins in the crypto market, I have not faced such a problem till date. But there is no guarantee that I will never fall into such a problem. This coin that was rigged was not any kind of ordinary coin, it was the highest level coin in the RW category.
And if I go a little further back in the chart of this coin, you will also understand that this coin has given a lot of returns in the last few months. For example, you can see here that this coin went from $0.8 to almost $10 in just four to five months. That means you can understand that it has given a lot of returns in a short period of time. In addition, if you go to the coin market cap, you can see that this coin is currently showing a ranking of 119, but four days ago, that coin was in the ranking of 20. Now the question is that if such a good coin is rigged like this, then there is no guarantee that there will be no scam in the coins that we are trading. This is not the case with this coin alone, those who have been in the crypto sector for a long time may have heard of the names of LUNA and FTT coins and such terrible stories happened with these two coins too. So there's really nothing we can do here We have to stay connected to the market and collect important news so that we can be prepared to deal with it in advance.
Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.
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