Do not follow the HYpe
Hello Steemit community,
I have been in the cryptospace for a while now and my experience has been mixed. But let us stick with the ICOs and the hype behind the different coins in the cryptocurrency market. One thing you should not do, or never do is to rush and buy a token because it was just listed on Bittrex and the value just jumped by 20 percent. I guarantee you that you will get burnt by the dump in no time if thats your chosen strategy.
The more rigorous way is to do your research through and through with the token of your interest. There is a common phenomenom with dilligently knowing a chosen token, you tend to dicover what is their true value. And that will direct you on what price point is fair to come into the market and grab some. I have a portfolio that I started building from the scratch and it is now up in tens of thousands, but following the hype has done its damage on the way. Base on my experience, it only does more damage than good.
I think investors should understand that most of these tokens are just selling ideas, only few are actually practical yet. Therefore, we need to be careful in paying so much premium for a hyped idea only to find out that we were just following the horde after couple of weeks later when the value of the token falls flat. My friends, do your due dilligence on your chosen crypto token and stay grinding.
I have to confess that I foolishly followed the hype on EOS, Mysterium, Patientory, IOTA and QRL. They all gave me a common result. GETTING BURNT!!!!!!....Loool.
Learn from my experience folks!!!
Is not it too early to call EOS a hype? I am not defending EOS but I definitely believe in the capacity and experience of the team working behind it. EOS is already a hype, I agree, but they are one of the few developer teams that still has ongoing projects that started back in 2015, like Bitshares. The whitepapers and technicalities usually tell you how well they plan to perform the promised outcome, and not that I am a tech savyy, but I definitely do not see EOS as a dead end in w hich you may have had burnt already. IMO, it is too early to call it off. After all, it is amongst the most solid projects built on top of the Ethereum Network. Other than that, I think your advice is very puntual and keen for new traders. Great post.
You are right bruh. It is all about been careful and at the same time going for the goal. I believe EOS is going to go on and be great in the future but a lil hype is behind it now and its going to die down for a while. Then we will be seeing the real actual value soon. Enjoy your weekend