That is the problem with the bull market. Nearly everything goes up. Just look at some of the biggest gainers (as in price) in the crypto market these few days. Quite a few I have never heard of in my life. And I am someone who is kind of a busybody and love spending my time looking at all these lesser known altcoins. It has become my obsession for the past few months. Yes I know it is unhealthy but it can be kind of fun though. Of course I never bought any of such tokens or coins except for a few in the mobile crypto mining side of things. And even that I merely put like less than 100 dollars into these projects. I do not recommend anyone going down the same route same me. You should NOT invest in such coins or tokens. Most of them will fail and you will probably lose all your money that you invested in those projects.
Anyway as it is the bull market right now, it does seem that nearly all the tokens or coins in the market is rising. So should you just throw whether cash you have lying around into any small cap coin you can find? Well this can be a very tough question to answer. But my simple advise would be whether you can time the market. Most people can’t. And if you can’t, are you willing to lose what you have invested? If the answer is yes, then sure, go ahead and try your luck at all those crazy possibly 1000x coins. You might just get rich and become the next SHIBA INU millionaire. And if you are someone who can “time” the market, won’t you be better off investing in something slightly less volatile? But do note that even the so called experts out there can’t time the market to perfection. Just look at those hundreds of millions of dollar lost by people who short the market but got burnt instead.
I think I have said this very often in this blog. But I will say it again – I am someone who invests for the long term. I avoid meme coins like the plague. Sure I might throw in some money now and then to smaller projects if I find that they might have some potential in the future but that’s about it. And my investments in those are tiny compared to the bigger tokens or coins in my portfolio.
If you are playing the markets right now, everything does seem like they were going to the moon. It happened during the May bull run as well. Everyone seems to be FOMOing into the market and throwing money around like everything they touch will turn to gold. Lots of people go in blind. But honestly speaking, is there really such a thing? Market manipulation is so rampant in the crypto sphere. It doesn’t take that much for the markets to fall again. Again this happened only recently – in end of May and June. That was one huge tumble and lots of small retail investors like you and me got burnt. But apparently 5 months is such a long time that everyone seems to not to remember. Pretty sad.
Just remember how hard it was to earn what you initially invested in the markets. All it takes will be a few “black swan” announcements to make the markets fall. And don’t think it will not happen. It will. Just a matter of time. So take care! And remember what I say. I might not be a financial advisor or have a crystal ball, but I do have some experience in the crypto market.