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September 18, 2018, 01:40:57 PM Last edit: September 18, 2018, 02:03:51 PM by Leonardo7 |
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The market has been very troubling since this 2017, no doubt the last year 2018 market was a honeymoon as we saw an ATH $20,000 of the bitcoin price. During the bullish movement of bitcoin, many Ponzi projects spring up. Chief among them all is the failed Bitconnect that sent arrows of tears and sorrows to the heart of many investors. The rest are all history but the pains linger on.
Some of these failed projects made some frivolous promises of their token growth price in the external market which few kept until what I will refer to a "tsunami" destroyed their unfounded philosophies. We all could remember Davor for us that were already around last year. What made these HYIPs inviting to their unsuspecting investors was the rush at which their ICOs were sold out at each round of opening sales. I call these a bait. In all these, investors were blinded because they were greedy about making quick money, coupled with the fact that bitcoin was in a bullish run, so getting fund for these ICOs weren't a big deal since the growth in bitcoin value was always an upward happening in the market. This made investors ignore real workable projects that might not give instant gratification. As we speak, those HYIP projects have all gone down the drain eloping with investors bitcoin.
My advice is that: as we await the next bitcoin bull, a lot of scamming projects are going to spring up again, trying to collect investors bitcoin and feel good with it. We should never invest in any project without proper investigations, we should learn to invest in workable projects or just trade the bitcoin against your local currency or the US dollars. Due the bitcoin bull run, except investors are very disciplined and determined, they would buy anything in the market without proper research, leading to financial loss.
I want to hear from you, what do you think scamming projects will bring up in the wake of any bitcoin bull?
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