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If there is a cryptocurrency project with a market value of 100 thousand dollars and you invested 10 dollars in this project. Imagine if the project's market value increased by 10 million dollars. This means that the market value at the time of your investment has doubled and increased 100 times. As a result, the 10 dollars is now worth 1000 dollars
.. On the other hand, if you own a share of Apple stock and the company's market value increases by 10 million dollars, you won't feel a significant difference. This is because Apple's current market value is approximately 3.4 trillion dollars. This means that 10 million does not even represent 1% of Apple's market value. However, in the small cryptocurrency project, 10 million dollars represented 100 times the project's value. Thus, when 10 million dollars was invested in the project, the price of the coin skyrocketed in this insane way until the 10 dollars yielded a profit of 990 dollars
... Is market value everything?
You cannot rely solely on market value to find cryptocurrencies that increase 1000x. This is because there are many scams and frauds that happen sometimes. Sometimes someone inflates the price of a cryptocurrency by buying a lot of coins. After crypto users start noticing the increase and rush to buy the coin, pushing its price higher, this person sells and walks away with a profit after scamming everyone. This is known as pump and dump. You should always be cautious of this scam method
... So make sure of the project team and its activity before investing in cryptocurrencies that increase 1000x
It's very important to ensure the team behind the project. This is to make sure they are real people. The best way to do this is to go to the project's website itself and check if there is information about the team there or not
👈Also make sure of👇#Btc
#Eren #BTC
There are continuous tweets on the project's Twitter page.
The activity of the project's Discord account and the presence of users on it and interaction between them and the project team.
Ensure the project site is free from any spelling errors or rumors and lies
