Is there still hope for altcoins? From the 96% crash of OM to its journey to zero, I learned these lessons.
The correct way to approach altcoins. It must involve appropriate position management. You can speculate, but you must accept the possibility of it going to zero.
As we have seen, the OM coin plummeted over 90% around 2 AM on the 13th, dropping approximately 96% from its peak. What does that mean? It means that after a halving, there were three more halvings, and that’s the situation.
Many newcomers may ask: Will buying altcoins lead to a loss of all investment? The fact is that if you choose such coins, it can indeed go to zero. While it is common for altcoins to go to zero in the crypto world, I believe we should learn something from this repeated experience. At least including FTT, Luna, and this time OM.
Let’s briefly look at the course of events. The prevailing theory in the market is that an unnamed exchange took forced liquidation, causing a chain reaction, especially during the low liquidity night hours. The official denied this information, stating that they did not manipulate the market, and that no tokens were sold off.
Using this incident, newcomers can gain a deeper understanding of the crypto market. The crypto market itself is a marketplace lacking regulation. The stock market actually offers you very good protection; there are cheats, but there are regulatory bodies. But in the crypto market, no one will supervise; everyone relies on their own skills. If you can earn, if you can harvest the crops, then you are impressive.
