Most of this new meme sometimes is a game of luck . probably it might also work for you according to your expectation, so many of them didn't work for me in the past . How long has it been in existence?
How did Bitcoin manage to reach its all-time high this year despite the pandemic?
- Thread starter WhiteHouse
- Start date
Whenever you are investing in a meme coin that has very active users and a lot of things that are promising you need to check the market cap. The market cap is what I usually check to determine whether to invest or not. Some have worked for me.
Wow, like what exactly do you really check when you are trying to determine when to invest and how you can invest. Do you really mean that you are just investing in cryptocurrency with a very low market cap ?
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No, there are several cryptocurrencies with low market caps and many of them does not have any future. After making my research about the team behind the cryptocurrency and checking a lot of things. The market cap is also one of the things I check because it will determine the amount of profit I am going to get on the long run.
I don't know , the whole thing about cryptocurrency may be so complicated. I believe there is no way you can confidently identified cryptocurrency that is likely have better future.. Most are developed by scammers. You can't identify it
That is because you are still a newbie in the cryptocurrency market. There are ways you can use to identify cryptocurrencies with good future but nothing is 100% assured in the crypto space. A typical example is what happened to Terra Luna.
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A lot of people must have research on the cryptocurrency. There was a man that was almost at a point of committing suicide just because his huge investment on the terra Luna has depreciated to a point that millions of US Dollars was as useless as nothing.
it is always an important for you to take your profit in cryptocurrencies because the only one I trust to an extent is Bitcoin only. Investing on other cryptocurrencies is just like gamble because anything can happen.
As for 2022, this is post pandemic year, I think the inflation rate is high and most people are investing on Bitcoin, and the price keeps going up because there is high demand over it supply.
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the Corona virus pandemic made a lot of people to start moving their money to bitcoin. There was a lot of money in the market that is why bitcoin reached its all-time high during that period.
That's true sir, during pandemic so many new investors, invested their funds in bitcoin so bitcoin reach 60k$, but present conditions changed, bitcoin mining hub China banned bitcoin,we definitely seen this banning effect in next bull run, I don't think bitcoin reach his all time high in this year.
The funny thing is that the bitcoins you are trusting on does not really have anything to offer , it is just an official cryptocurrencies . That's all whereas others have something to offer.
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it is almost impossible for bitcoin to reach its all-time high this year
That may actually be next year or 2024. Before then, we will be anticipating the 100k price.
I know but bitcoin remains the face of every cryptocurrency and therefore, it's the most valuable. Ethereum for example has more use cases than Bitcoin but that does not make it more valuable.
Even if I have money I wouldn't want to invest in any of them because they are too huge to my liking. If there is a way to be able to identify upcoming cryptocurrency with perfect potential those are the ones I will be concentrating on.
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There are a lot of cryptocurrencies that are promising to do well but the thing is that not all of them achieve their potentials. Many promising cryptocurrencies has died in the past and that's one of the reasons no one is 100% sure in the crypto market.
If a particular cryptocurrency is something that can possibly make someone to be rich in the future , I don't see any possibility of such cryptocurrency dying in the cost of doing it . The dying ones are fake
It seems you have not participated in many cryptocurrencies before. There are so many of them that looks very promising but on the long run they die.
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Hmmm. I now understand why you said that some cryptocurrency could be profitable but yet still not able to make it at the end of the day. I understand that even some potential cryptocurrency like Luna was not able to make it at the end.
Yeah, Terra Luna was very promising and one of the best cryptocurrencies before it crashed. The thing is that there is still version 2 but many people have lost their trust.
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