Hey everyone,
My name is Alex, and I'm thinking about starting a series on here called "$hitty Crypto Advice", where we discuss bad advice we have overheard and/or received in the past.
The purpose of this thread is NOT to be just a place to post memes of said content, but should ultimately be focused on educating our peers as to why we personally believe certain advice reigns superior to alternative advice.
For example, we've all heard reputable news sources advocating to buy Bitcoin back when we reached above $19K, or Ripple when it broke $3.00. While this may not be the best advice for some, we have to peel back some layers of the media and understand where they are coming from. From a consumer perspective, "Blockchain" is a very hot word right now. A lot of consumers who are trying to further understand what the Crypto market is about go to their traditional news sources for advice. When we take into consideration supply and demand, it makes sense that in the short run, prices could rise when news sources talk about Bitcoin or any other currency that is a hot topic for discussion.
I personally believe that we have to be extremely careful when we listen to any one give out Crypto advice, as certain people / platforms may have enough influence to inflate the market, just like when we saw a week back when Ripple neared a $120 Billion market cap.
With any advice, I recommend doing your own research before investing in any project, Crypto, stocks, or anything else in life.
NOW
I'd love to hear some $hitty Crypto advice you all have received in the past, and what takeaways you can give back to our community. If this catches on, I may consider making this a weekly thread. Let me know in the comments what you think!
Thanks,
Alex
