PRICE IS DECEPTIVE, LOOK AT UTILITY AND PURPOSE FOR LONG TERM PROJECTS
If there is one thing I have learnt on this blockcchain it will be that I must focus more on long-term for any crypto success.
A lot of people drive their crypto dreams from short-term jumps of price action from their reading on a chart or from small moves from fundamental analysis.
I come to realise that this little gains are really nothing to be compared with the immense possibilities that some tokens and projects can achieve as long as all the right boxes are well ticked.
Knowing the right boxes to tick also matters but for all I have come to understand prices are deceptive.
People often want to buy tokens that are very cheap because they feel it's going to rise and that's the only reason why they're buying them.
Some other people prefer to buy tokens whose prices are really big and so that if it stays high and probably going to go higher.
And some just feel as long as the price is moving up then they can jump in but unfortunately they may just be buying at the top.
And yes I have been a victim of all of these three kinds of people and I am glad that I learnt to be a better trader since my time on hive. Although I don't actively trade lately, just hive.
That the price of a project token is low does not mean the project is not so successful neither, it does not mean that it doesn't have a good future.
Same thing applies even when the price of a particular project token is very high.
There are a lot of s*** coins and meme coins out there with super high prices but really low utility, some of them are basically driven by the hype and The tweets of certain individuals.
I don't believe it is wise to base your decision on investing in such tokens on just the price, there's something I advise you do.
Read about the project, what is its long-term plan what problem are they trying to solve what solution can they bring to that problem and how will it last before that solution get limited by another problem.
How soon will they disappear from the stage, because you have to understand that technology is constantly evolving if there's a golden opportunity right now to solve a problem, tomorrow they'll be much brighter technology that solves that same problem only in a better and more efficient way will come. So if you base your decision on just the price, you ll be loosing out on so much more out there.
Let us take bitcoin for example it is currently the highest selling cryptocurrency out there and it's project is superb, but that does not mean that you can't buy him so it says you haven't read about the project and you see the solution in brings to transactions and peer-to-peer modalities, and even eat possibility of becoming the global digital currency. there is so much more that can be achieved now the current price does not deter anyone from buying into it in fact I could say that we are still in the place of the lows on the Bitcoin because it's definitely still going to rise as more and more people get to adopt it.
Looking at Polycub, well it started at the price of $5 and has now crashed or $0.28 but the price is not the project and that should not be what should be looked at. what you'd rather believe is the purpose that this project fulfill what solution does it bring what possibility does it give to everyone who buys into their idea.
Blockchain and cryptocurrency can still be said to be young apparently because we haven't really tested it depths. Different technologies are being released daily to balance out all the edges and create a better blockchain for everyone.
Hive is not left out in this balancing out, so many projects on the ground trying to showcase huge possibilities to everyone out there for this social fi and an economic hub. The psyberX play to earn game, the SPKnetwork and the Larynx token, rabona, Splinterlands, dcrops etc, These are all great projects on hive and I am still very bullish on all these projects. Despite their prices. The projects purpose and utility should always be the focus.
This post had no intentions to give financial advice, its all educational and entertainment. Feel free to do your own research.
Posted Using LeoFinance Beta