John McAfee and Cryptocurrency II
I've written in my previous post how John McAfee was spreading FUD about IOTA and how I didn't like him but the man is before everything else a businessman and is looking to further his own profit.
He is a well known name and his words carry weight. He has single-handely skyrocketed some altcoins and he is going to continue doing so in the future. We know he tweeted about verge which rose 700% after the tweet. It did go down a bit but still those who followed on his words made quite a profit.
Todays tweet was :
And the result 109% rise at time of writing this:
It was up more than 140% when I first looked at this and decided to make a thread.
Like I said, his words carry a lot of weight and people seem to be buying into it. It can be a good opportunity to shamelessly try to get some profit out of it. It is on you to decide my friends.
McAffee macke trubels ot the market.
The question is: how long can this trend continue until people catch on? I'm wary of buying into coins on news / tips from big names, even if it does bring quick profits, since it seems unsustainable.
I believe many people are buying into these in hopes that another 10x increase will come over a week (like it did with Verge). But I'm sure they'll all see major corrections in the future.
Timing is everything if you play this game. I think I'll stick to reading about coins unmentioned and hodling long term.
Yes, that's true. I'm longterm in the IOTA game because I believe in it. But this is something to be aware of.
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