Have you invested in a crypto project that has got some good hype? What were the results of it? Did you make a profit or the result was not good for you?
I have been into the crypto industry for more than five years now. I haven't really been investing in other cryptocurrecies in the start but after making a few bucks I started to look into other cryptos as well.
I started investing a little bit in cryptocurrencies that I believed could make some profit for me in future.
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I also invested in a few crypto projects that have got some good hype. And non of them made profits for me. I actually have gone in loss so far seeing the cryptos crashing.
I have no choice but to hold. Because I don't want to sell it on a loss. Who knows if their prices could recover. But right now, they have been dipping really hard and it would be nearly worthless for me to sell it on that price.
The crypto hype sometimes creates a FOMO (Fear of Missing Out) for some of the users making them invest without even doing a due diligence.
For me, non of the investments I made in a hype worked so far. I am in a loss sa far. And this is why I would also advice not to invest in a crypto just because it has got hype.
Seeing these hypes, some say well I am not going to miss this opportunity not investing in it and fall into FOMO which could hurt their investment.
This is why we should focus on the utility of the crypto and other stuff after doing a due diligence and don't take irrational decisions of investing in a crypto asset based on some piece of information with verifying the source and the accuracy of it.
What about you? Have you invested in a hype? How that turned for you?
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