What chance do we have of hitting a Home Run with a memecoin?
Hello project HOPE friends, I hope you are all having a great weekend. Today I would like to share my opinion regarding a topic that I have discussed with some people, and who unfortunately hope to get 1000x with the purchase of a cryptocurrency, although it is true that these things have happened, the reality is that the Most people will not achieve that desired stroke of luck.
I think it is important to know that investments are risky, regardless of whether we study or not, and if we talk about investments in cryptocurrencies, we would be assuming more risks. And among all, when talking about memecoins or those currencies that are the majority without the support of a solid project, even worse.
Well, I have read of people who literally became millionaires with small investments and in a short time, the case of Dogecoin is a reality that many were able to take advantage of, it also happened with the case of Shiba Inu, that there were people who put 6 thousand dollars in a investment in that currency and converted them into millions of dollars in a short time, are the stories that stand out the most on the networks.
But there is another reality, achieving these feats requires some patience, because before one of those currencies achieves a high percentage of profits, we would have to have the ability to tolerate large movements in price, even moments in which we have significant losses. part of our capital, and these large fluctuations can be normal in this type of currency, until at some point, due to certain conditions that I cannot understand, they rise like a rocket.
The other detail is that the risk that these currencies will go to zero and that we will lose almost all of our capital, if not all, is always present, and it is not something that everyone can be exposed to. Therefore, if we want to have profits of this type, we must keep in mind that the possibilities are few in probabilistic terms. On the other hand, it is also important that we know that it is more feasible for us to lose money than to win it.
Another aspect is that time is crucial, that we must mentally be very prepared for our capital to fluctuate in very strong ways, and not fall into the temptation to sell, and still keep in mind that we can lose everything, just like that.
So, to finish, Is it viable to win x1000?, you could say yes, but the chances are really slim, to tell the truth.
Greetings @josevas217, at the moment the cryptos memes have a lot of boom, with them you can make money or just lose everything, since, these tokens live on pure speculation, if you want to invest it is important to have patience and carry the certainty that we could lose everything.
See you later, have a great week.
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