It is easy to notice that at the beginning there was only bitcoin and the few of its friends. Nowadays there are over 1400 cryptocurrencies over the world. So the fact is really simple: everyone wants to make tons of money in a few weeks by holding some of the most ridiculous coins out there.
The numbers can be tricky... Why? Everyone is crazy to see the cryptocurrency market blow over 700 billion dollars, but they forget that this huge amount of money splits between all the useless coins out there. On average 10 new coins are coming to the market every week. New and dumb investors with high hopes start to buy these coins for a fraction of a penny with the vision that they are going to be millionaires in a year.
Also hundreds of new ICO's are lining up every month the pull in ignorant people by selling them also the same dream that they could be rich. So what I say is that a fairly big share of the cryptocurrency market is going to the pockets of the developers of scam coins & ICO's.
I am not sceptical because I also do believe that there are coins out there which ones hold real value, but please do your research before putting in all your hard earned savings to these dreams.
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