Hey guys I’m seeing a lot of success in Alt coins but I seem to always be a day behind the pump! Like I buy at 40x and sell at 50x? How do I know what coin to buy like all these guys before they pump them?!
It is not success, it is called paid pump and dump and you will never be able to catch those and make profit. In reality no retail trader is actually able to do that.
What happens is that some shitcoins out there get promoted by media influencers on social media and the price rises like anything without any inherent reason behind them. This is done by the influencers to make money off the market and sell that shitcoin to the members who are only brainwashed into buying it.
If you have been holding that coin from beforehand, that would be the best point to sell and NOT buy. Because once the price stops rising, the ones who promoted it, will sell their share of coins and make the money while the one who were brainwashed to buy it, are now stuck with piles of that shitcoin ranged at a price lower than the buying price.
Do your due diligence from this, I am not making this up, it is what happens with many altcoins everyday. If you want to make money you have to focus on bitcoin and buy at low prices. FOMO is the thing to avoid, FUD is the time to buy, that too bitcoin, not altcoins.