Without having experienced the 2016 & 2017 crypto bullruns, it’s difficult to comprehend the current market mentality. Why are these ultra high risk useless tokens popping up out of thin air? Simply put, it’s a greed driven ponzi scheme. Everyone is blinded by greed, eager to throw their life savings at the next DeFi shitcoin in hopes of an overnight 100x. During a Bitcoin bullrun, it’s incredibly easy to be priced out as seen in the image above.
Ignoring the top 10 which have mostly stayed the same, we see tons of old coins that have lost a tremendous amount of their value if you had held just Bitcoin or Ethereum. NEM, MaidSafe, Waves, Steem, Lisk, Gulden, Peerplays, Shadowcash, Gamecredits, and so on, are ALL down against BTC/ETH. Please understand, I’m not saying these projects are worthless, or don’t bring value to the table.
📈 Try Kek's free token explorer! 📈
If we are on the cusp of the next bullrun as many speculate, betting on some random shitcoin to make or break your bank is too risky. Meanwhile, BTC & ETH almost guarantee a 5x and 10x, respectively.
Great traders manage risk, not money.
Skipping forward one year, during the peak of the 2017 crypto bullrun, you’ll notice a lot of the previous mentioned shitcoins are nowhere to be seen, many dumped into the ground. Some of those coins, like NEM, have shown good returns against Bitcoin. Here lies the problem. You entered a position with a high level of greed and risk. What are the chances somebody that greedy sold at the top of the 2017 runup? Unlikely.
Always hold Bitcoin and Ethereum. Tuck it away and forget about it. Crypto is already ultra high risk, to not hold Bitcoin and Ethereum presents a risk profile that most cannot stomach. Be careful out there anon.