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What Is Hopium in Cryptocurrency?
Manage episode 341537282 series 3381606
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As the cryptocurrency bear market continues, many crypto influencers continue to sell their audiences Hopium by promising that they will all eventually profit if they simply continue buying into the market no matter how far the price falls or what bad news we receive. Although I do think it is important to be optimistic and support our favorite crypto projects, it is also important to remember that nothing is guaranteed when it comes to investing. Although there is a historic bull and bear cycle for crypto, we can't guarantee that simply holding an asset will lead to an inevitable profit during the "next bull market". First, there is no guarantee of a bull market, and second, the simple fact that there is a general bull market doesn't guarantee that a specific coin/token/project will share in those gains. I want to be clear that I am NOT saying that all is lost for crypto or that crypto has no future. Rather, I want to reiterate that we should always do our best research before investing and not simply sling hard-earned money at projects with the belief that just holding long enough will guarantee a profit. #crypto #eth #eth2.0
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