Cryptocurrency muppets are back in town riding the wave of trader savvy investors who buy low and sell high. Unless you know how to ride the waves then better to leave any spare cash laying around in a low interest less risky investment.
These crypto Muppet blogs don’t stop to amaze me. The reason is because any person invested in crypto will tell you it’s a winning scenario which frankly is as dodgy as it gets. Of course, crypto investors will hype up the potential gains because the more who fall prey to buying will be lining the pockets of the savvy ones who wait for greater than before values, and then at the opportune moment sell. Their profits are high whilst other less informed investors either hold their shrunk investment, hoping for a day when the market will recover, or sell up and walk away with less money than what they invested.
It is a vulnerable market that in a way is totally subject to speculation. It isn’t tied into an index that guarantees X percentage dividends, as there are none. If investors invest in the more than 23,000 cryptocurrencies currently in circulation compared to a decade ago when there were just seven, it shows that every wannabee fund is trying to cash in on the bug.
In other words, that astonishing growth rate isn’t entirely good news. Many new cryptocurrencies have little purpose other than making money for their developers. Yes, start a crypto business and ride the wave of yes muppets who are dragged in from pure emotion, vulnerability, greed, or stupidity. There are no guarantees, so please stop and think about it, if you are poised to invest in a fund due to your best friend telling you poppycock about how you will become a billionaire, drop out.
Overall, it is still a very top-heavy market. A small number of cryptocurrencies are responsible for most of the market’s total value. If you must buy, then Bitcoin or other major players are your best bet.
Take care!
Prof. Carl Boniface
Please note this article is my personal opinion and if you have differences in judgment, then fair play. If you like, please feel free to make your comments below.
Vocabulary builder:
Muppet (n) = a foolish person: from the name for the puppets used in the television program The Muppet Show.
Fall prey to (idiom) = be caught and killed by (an animal) for food. "small rodents fell prey to domestic cats" or be vulnerable to or overcome by. "He would often fall prey to melancholy (a feeling of pensive sadness)."
Wannabee (n) = a person who tries to be like someone else or to fit in with a particular group of people. "a star-struck wannabe" As an (adj) aspiring or wanting to be a specified type of person. "a pair of wannabe pop stars"
Poppycock (n) = nonsense, absurdity, untruth, rubbish, codswallop
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