Why do so many people buy an alt near the top of a pump and ride it all the way to the bottom? As a matter of fact, many of them consider it a badge of honor that they never sold (even though their investment is now worth 10% of what it once was). Any thoughts?
In this online gambling 24/7 community, people losing money is very normal. Only by experience and understanding how manipulation(PnD) works, they would be able to make some money.
Yes, but why do so many buy at the top of the pump and ride to the bottom of the dump and beyond without selling? Makes no sense. Why not cut your losses?
Noobs do not know the coin is at the top of pump.. some of them do not cut their losses either even if the price is heading towards bottom, they believe the price would bounce back. If everyone is smart, then Crypto-cycle would not run. Your question is like "why don't people be smart like me and cut their losses before dump?".
I wish I were that smart. I got caught up in the Blackcoin pump and ended up losing in the dump. I did sell, however, long before it hit bottom. Does that make me dumb because I bought into the pump or does it make me smart because I got out before losing too much. I don't know, but I sure didn't feel very smart when it was over.
