It is quite baffling how most gravitate towards shitcoins
We are right in the middle of crypto bear market, it remains unknown how the current state of the market will last, we could be seeing further dips or we have bottomed in preparation for a bullish momentum. Therefore we all have to adjust accordingly in whatever direction the market moves, either HODLing, panic selling or buy the dip is anyone's responsibility.
On a second thought I actually wouldn't mind the market dipping dipper, not because I have a load of fiat waiting to dump in on crypto but a further dip could wash off the shitcoins that flood the crypto world.
Trending on my Twitter feed this morning were all sort investing in shitcoins.
What #Cryptos are you picking up at these prices?
— CRYPTO THRO (@CryptoThro) May 17, 2022
The cryptos most were opting for are; Baby Doge Coin, PlugPro, Wikicat, these are a whole bunch of shitcoins not even on Coingecko to start with. Another tweet was about which crypto will give highest gain this year.
I see this as wrong ways of getting in on crypto, getting involved mainly for the gains are only going to result in losses like we see with the case of Luna/UST. Not only is it baffling but can at times be annoying as well. I think people are bound to find crypto projects with long term potentials if time is put into making the research. Start with Bitcoin at least before getting into sustainable Altcoins.
These are pathetic ways of getting in on crypto which isn't looking too good in curbing the rate of losses and importantly adoption.
I think it should actually all begin with Bitcoin, read the Whitepaper, give it a read multiple times because it is not easy for most to understand it once. Reading Bitcoin's Whitepaper impacted a deeper meaning of what Bitcoin is to me than what any other person will describe, we might be reading same subject but have different meanings to us.
Crypto is really a game changer a different approach rather than wanting quick gains should embraced. There must be something to spot within crypto that will resonate with you as an individual morally, let that be your strong hold and never get easily influenced by the hype out there and the cryptos (money) will follow.
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