Let's take a look at the nature of altcoins
Why are most people so obsessed with altcoins? Because altcoins can rise by 50% or even 200% in a day. The sudden wealth is right on the screen three feet away from you. It's human nature and impulse. But the decline is also fierce. There are many altcoins that can fall by 99% after falling by 99%. It is simply a tool for capital to quickly harvest.
What is altcoin?
It is a virtual currency variety that copies the source code of other coins, adjusts some technical parameters, and renames it.
The significance of the existence of altcoins is, first, to verify the effectiveness and security of the original variety code under the condition of changing parameters. Second, to make money, make money, make money.
The market of altcoins has the following characteristics:
1. Occasionally it will soar and attract people to join the game
2. In the long run, it will always be in a downward channel.
3. Occasionally rebounding for a few months is also a trap for the old to enter the new.
4. There is no long-term holding value. Buying on dips is also for selling on highs.
5. When the main varieties rise to high levels, some risk funds will go to make a quick buck and run away. At this time, there will be a very short-term market for participating in altcoins
Trading suggestions: Risk-averse people should never touch altcoins; risk-lovers can buy at low levels and sell at high levels, participate in the game of greater fools, but also be prepared to return to zero.
To avoid being cut, you must realize that money does not come in a hurry. Cryptocurrency is originally a speculative industry. Why should you participate in speculative altcoins in the speculative industry? $BTC $ETH
