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RE: Love coins under a dollar? Think again!
Thank you for doing this. People have been buying “cheap” coins because they want a bunch of coins for when the price goes up. But the percentage growth could be just the same in a coin that costs $300 compared to $.01. Ive been watching cheap coins and i think they get pumped by investors looking for cheap coins. But a lot of them dont bring anything new to the table. Just more of the same. I hope people see this post by you and stop making these mistakes.
It’s one thing to believe in a coins tech, but its another thing to just buy a coin based only on price.
people think the coin price means they are a penny stock. but supply matters!
Yup. Supply can tell you if a coin is overpriced or underpriced when you also look at what the coin brings to the crypto world. Looking at one factor, especially just price is a recipe for disaster. It’s a good way to burn money.
Lol. I think getting involved in crypto could serve as an economics class for some people :)
You make a really valid point about many low priced coins not bringing anything new to blockchain technology, the are pumped by investors who are scared of high prices for entry points or who "drink the koolaide" from celebrities & influencers. This same impact can be seen im the stock market. Stocks split for many reasons, but many times they want a lower entry point for investors. Amd stocks get hyped all the time. We'll see the same playbook with cryptos.
Yup. I dont think the entry price is a big deal, because you should be about percentage growth. Entry should only matter if a coin is underpriced or overpriced. But price alone is not important
True. Investor psychology is an interesting study though. Price does matter for some who haven't trained themselves to look past the baseline Unit of Measure (in this case a share of stock or a whole coin/token).