Fantastic video man, you and I see this market in a very similar light.
Coming from someone with alot of experience trading penny stocks...the altcoin market has become its own microbubble within bitcoins ecosystem! It is starting to look just like OTC markets on coin market cap...and the pump and dump tactics are almost identical, except with euphoria about everything for no real reason and plenty of capital to go around.
Be careful out there guys, I've made lots of good money in the OTC, but it isn't by buying pump and dumps peddled by youtubers with a lot of subscribers. I mean for pete's sake one of the top 30 coins right now is a dentist coin, created by people who know nothing about dentistry, with 8 trillion max supply...wtf people.
Be smart, and don't lose your shirt, this year is gonna be crazy. There is no reason you can't still make consistent, AMAZING returns in this market if you invest smartly, and then use SOME of those earnings for speculative altcoin investments, but don't blow all your powder bottom fishing that one "next big moon ticket altcoin" in a dream of making it huge and retiring next week.
You're either a shark, or one of the millions of minnows. And if you're not sure which one you are, you're the minnow.
Agreed 100%. Throwing a ton of cash into into these cheapies with no underlying fundamentals is akin to going all-in on a 1-out royal flush draw. May peel off that perfect card on a very rare occasion but it’s always low value play.
I think it was Doyle Brunson who said that a mediocre poker player who understands risk analysis will be better than a poker professional who doesn't.
Excellent analysis, I gasped with exasperation when dogecoin reached a billion dollars, even when the creator declares this is a joke and look how fucking stupid you would be to buy this dogshit, people still blew it up to $1b!
Dude I know right! When I saw a guy in discord talking about buying dogecoin because it was about to go to .10 and I was telling people there is NO WAY dogecoin will even go to a penny... I guess I had too much faith in people, and sure enough a few days ago...what do I see, but freaking dogecoin, the OG shitcoin inside joke of the early days of bitcoin used on forums for tipping people with tangible internet points, worth over a billion freaking dollars.
Some of these investing telegram groups are full of these guys...its quite scary.
TRX is going to 7 Bucks!
LINDA coin to 3 bucks!
CARDANO to 20 Bucks
or My fav
VERGE to 20 Bucks.
It's actually scary to think these people are pushing thier cash so easily into these coins without thought or reason....then again i blame some YT guys (not CI) posting 10000% gains on my 1 million Pac coins type videos...
like they didnt post it....to hype it up...then dump.
The issue is how much money there is to be made in exponential returns from affiliate link hits like bitconnect and hashflare. It makes youtube channels start to look like a US presidential election with all the false promises and hype thrown around just to get people to "join the club" so to speak.
"this year is gonna be crazy."
I think that will turn out to be a huge understatement.
Thanks for the comment - it really is the penny stock casino right now. I don't want the bubble to pop, but sometimes behavior like this makes me wish it would!
To quote the late Hunter S. Thompson: “Life should not be a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside in a cloud of smoke, thoroughly used up, totally worn out, and loudly proclaiming "Wow! What a Ride!”