Topic: I made a lot of money off of noobs (Read 137 times)
You certainly do not need experience with finance world or stocks to be able to do some profits with cryptocurrency (IT HELPS A LOT, DON'T MISUNDERSTAND ME), however you need common sense. All coins are inflated right now and like you said is a viral phenomenon, if McAfee says doge will reach USD 1 by february people would still mass buy it, even though is obvious it is impossible, we are in the speculation era and some coins will need to crash hard for people to realize how dangerous being a noob here is
The last three weeks have been really interesting in crypto, and I managed to make a large sum of money. I think my experience is pretty interesting so here it is:
Over here in America, it was like bitcoin was almost a viral phenomenon. I was seeing the most random people buying up btc and posting about it and asking me if I had heard about it. We're talking all age ranges and backgrounds. Even some of my students!
So, I saw an opportunity. I combined my own experiences starting off trading, knowledge I've gained about market economics, and straight up psychology.
I guessed that a lot of this new money would gravitate towards alts as people start to think that btc is too expensive and they missed their chance.
I figured they would start buying in to other "cheaper" coins that were readily available, like eth, bch and ripple.
Then, I started noticing that really cheap coins were being pumped pretty hard.
Then I saw the crazy Verge pump and realized a huge amount of new money was desperately gravitating towards "the next big thing" regardless of whether or not that coin or token was even good.
I made an extended series of short term trades over a two week period and managed to quadrupal the amount of btc I own.
I then quickly sold it using local bitcoins for cash, then reinvested it back into btc when it went under 14k usd.
all total and taking into account the current price of btc, I was able to make a around a whopping 18000usd in two weeks.
I have NEVER been that successful before haha. Also, this was a unique case where timing was key.
But it goes to show, that hardcore research, experience, and intelligent educated predictions do go a long way.
On a final note, I have this weird sad feeling that the world of crypto has become just a huge get rich quick mentality world.
Does anyone care about a decentralized monetary future anymore?
Over here in America, it was like bitcoin was almost a viral phenomenon. I was seeing the most random people buying up btc and posting about it and asking me if I had heard about it. We're talking all age ranges and backgrounds. Even some of my students!
So, I saw an opportunity. I combined my own experiences starting off trading, knowledge I've gained about market economics, and straight up psychology.
I guessed that a lot of this new money would gravitate towards alts as people start to think that btc is too expensive and they missed their chance.
I figured they would start buying in to other "cheaper" coins that were readily available, like eth, bch and ripple.
Then, I started noticing that really cheap coins were being pumped pretty hard.
Then I saw the crazy Verge pump and realized a huge amount of new money was desperately gravitating towards "the next big thing" regardless of whether or not that coin or token was even good.
I made an extended series of short term trades over a two week period and managed to quadrupal the amount of btc I own.
I then quickly sold it using local bitcoins for cash, then reinvested it back into btc when it went under 14k usd.
all total and taking into account the current price of btc, I was able to make a around a whopping 18000usd in two weeks.
I have NEVER been that successful before haha. Also, this was a unique case where timing was key.
But it goes to show, that hardcore research, experience, and intelligent educated predictions do go a long way.
On a final note, I have this weird sad feeling that the world of crypto has become just a huge get rich quick mentality world.
Does anyone care about a decentralized monetary future anymore?
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