Almost made a bad investment decision today 🥺🥺

[Inior]

I almost made a bad investment decision today, i was at the verge of investing on a low value market cap altcoin not to mention the name.
 I was just searching for a coin that I can invest a little funds on to hold for the next five years, I had already picked up my phone to complete transaction before it occurred to me that I should always make informed decisions, it was then I found out that I was just carried away by the price of the coin ☺️, with this conciousness I decided to do a little research and analysis, I found out that the coin is on a massive decline with a strong double top pattern heading towards the neckline ,which is a strong indication of a future down side move. So in cause of this experience, I learnt a very important lesson , always do an in-depth research and analysis before committing funds to an investment decision.

 

[Y3shot]

I think it would have been best if you mention the name of the coin to also save some people from falling into the trap  of investing into the wrong coin. Their are so many scam coin in the market,  it is important for people to be careful when making decisions to invest in altcoins.  Buying coin very cheap to invest should not be the reason why people must go for these altcoins. Their are still good reliable cryptocurrency that one can still invest and make profit by hodling.

[Barikui1]

See this year na 2024, anything wey you know say go make you hustle backwards, try avoid am, even though say you be newbie in the crypto space, wetin you sopos do first as you come into the space na to seek knowledge first, because to me it's unthinkable say you go hold alt for five years, abi you no suffer for that money? Wey you wan waste am like that.

As you decide for ur mind say you wan invest in cryptocurrency, na Bitcoin sopos enter your mind first because na him be baba,  see no alt coin wey dy good to hold in a long period of time, even Ethereum wey dy try small, I no still trust am, because alt coin dem na just pump and dump be their way, and wetin you need to understand about alt coin is that once dem fall, e dy very hard for dem to rise, so i for advice, you you use that money buy Bitcoin, even though na Small small, weekly or monthly, so that this bull run opportunity wey dy come no go pass you

[OGsmall]

I almost made a bad investment decision today, i was at the verge of investing on a low value market cap altcoin not to mention the name.
 I was just searching for a coin that I can invest a little funds on to hold for the next five years, I had already picked up phone to complete transaction before it occurred to me that I should always make informed decisions, it was then I found out that I was just carried away by the price of the coin ☺️, with this conciousness I decided to do a little research and analysis, I found out that the coin is on a massive decline with a strong double top pattern heading towards the neckline ,which is a strong indication of a future down side move. So in cause of this experience, I learnt a very important lesson , always do an in-depth research and analysis before committing funds to an investment decision.

 

Well you are really lucky I do advise people who are new to the bitcoin world should always study the coins to buy when trying to invest. The crypto world is not something you should join to like that without must knowledge of it.


most new people do make such mistakes all the time and it should be corrected I do advise when buying a altcoin coin do make a good research and learn learn about it before investing.

I gist with the way you sounded it was from a bots? And also when investigating you should always learn about the projects and the vision of it this should be the important part

When you are free you. Should just check this website

https://www.investopedia.com/terms/a/altcoin.asp

[Kelward]

As Y3shot, talk, e for good if OP share di name of di coin wey im de talk about, so oda members go de better informed about am, especially fellow newbies, e no too good to raise topic about coin wey no make sense and you come hide di identity of dat coin. Anyway you make a wise decision to research am first before you put your money inside, odawise by now e for don be medicine after death, if you don buy before carrying out research. Although I fear as you say you wan buy altcoin wey go hold for 5 years, as a newbie, na Bitcoin, you suppose buy and hold for dat long term, because altcoins fit to fall your hands before den, unless say you go take your chances and invest in a reputable top altcoin.

[Churchillvv]

There is this eagerness i see in newbies like me which is trying to meet up with Altcoins because they're unfortunate not to have invested in bitcoin when it was little so this eagerness has led so many to making wrong decision while some are favoured, at the same time some still fail in the process.

You know one good thing about trying is it helps you to gain more knowledge. So I guess you most have learnt through the had way that trying to venture into what you don't know can make you go broke as fast as possible. Experience is the best teach and it most have thought you now. You know one major rule of investment is doing research and you as a newbie should be in line to know this even though your new here because everyday this rule is always talked about.

It's not bad to invest in Altcoins oh but of you are doing it you should be more careful on decision making.
Don't be carried away by this Bitcoiners who has now turn Bitcoin to cult that no coin is worth investing. you most know that there are many opportunities that comes ones in a year through altcoin that you can blow up but be ready to take it's consequences.

[Wiwo]

I almost made a bad investment decision today, i was at the verge of investing on a low value market cap altcoin not to mention the name.
 I was just searching for a coin that I can invest a little funds on to hold for the next five years, I had already picked up my phone to complete transaction before it occurred to me that I should always make informed decisions, it was then I found out that I was just carried away by the price of the coin ☺️, with this conciousness I decided to do a little research and analysis, I found out that the coin is on a massive decline with a strong double top pattern heading towards the neckline ,which is a strong indication of a future down side move. So in cause of this experience, I learnt a very important lesson , always do an in-depth research and analysis before committing funds to an investment decision.

 

You are looking for a low cap altcoin to hold for five good year's,  are you kidding me, anyways thank goodness you never made that mistake,  because this could have been a disastrous experience for you in the long run because if you ever want to hold any coin as an investment for the long term,  I advise you go for more stable and less pumped and dumped coins like bitcoin and as a newbie, you should start your investment journey with Bitcoin instead of risking your investment on altcoins that may crash at any point in time.

Since it has become a known fact that Bitcoin is the least volatile and has a long-term record of market sustenance,  this shows to a large extent to what we can expect.

[Makus]

This is exactly why we are told to study and do extensive research before buying any coin. Especially newly launched coins with low market cap, currently we have missed multitude of shitcoins in the midst of altcoins, so we you have to be careful when making investment decisions. Aside just shitcoin the rate of scam projects have increased, where some coin were created specifically for the purpose of crashing the coin to price zero after the coin must have gotten enough market cap and investor, that is why I pity those who are after trends without doing their own research. Though researching on a coin those guarantee that the coin might not be a scam project.

Now adays scammers are working tirelessly to make their scam project looks legit like every other altcoins in the market. And I bet that they'll spend enough for the coin to look legit and pass through all the KYC, after which it would be listed in exchanges but after a certain period of time the coin would be no more as it value will crash down. Bitcoin is the only coin you do don't actually need to study extensively before you buy, but there is a need that you do some research so as to build your confidence In holding the coin for long.

[Mr.suevie]

I almost made a bad investment decision today, i was at the verge of investing on a low value market cap altcoin not to mention the name.
 I was just searching for a coin that I can invest a little funds on to hold for the next five years, I had already picked up my phone to complete transaction before it occurred to me that I should always make informed decisions, it was then I found out that I was just carried away by the price of the coin ☺️, with this conciousness I decided to do a little research and analysis, I found out that the coin is on a massive decline with a strong double top pattern heading towards the neckline ,which is a strong indication of a future down side move. So in cause of this experience, I learnt a very important lesson , always do an in-depth research and analysis before committing funds to an investment decision.

 

Thank God you remember to do some research before carrying out your investment and I must add to this story of yours about the possible bad idea of you wanting to hold that coins for a five year interval, well common man  even if the coin was to be in a good shape, there is very tendency for the price to drop again although if you find a good coin then the risk you took would have good because that coin must have topped up maybe by even x10 or even x20 but I doubt you will find an altcoins that can be that much resilience to the bear season dump that eventually survive and pumps up again.

[teamsherry]

One thing I know the forum has always been preaching about is do your own research, and that's what actually saved you,just imagine you had not been here you would have found d your self suffering from a major dump and lose of funds. But I think you did not try as not to inform us about this coin, so we would do well to skip it. Knowledge shared, is a person saved.

[Mate2237]

Op if you want to invest in any altcoins and you don't know the particular one then you have to ask questions here for people to direct you which one to invest. And you tried for making research to know the real market cap of the coin. And these are the things we dey talk every day say make people do research before investing in altcoins. Now if assume dat you no do any research before going ahead to invest then you for regret oh. We thank God for the wisdom you get early.

To everyone.do your own research before investing in altcoins. Because not all the coins that shining will make profit in the future. Na good thing to diversify your investment plans but you have to make good research before splitting your investment please oh. And if not there are some coins dat you go enter dat, you go even lose join with no capital no profit. You lose all. So avoid such in the future.

[Smartvirus]

with this conciousness I decided to do a little research and analysis, I found out that the coin is on a massive decline with a strong double top pattern heading towards the neckline ,which is a strong indication of a future down side move. So in cause of this experience, I learnt a very important lesson , always do an in-depth research and analysis before committing funds to an investment decision.

Just what I wanted to see,
How you came to that conclusion on the coin not being a suitable choice for investment and laid it out in the way that makes sense to you. Using the usual trading analysis on the charts to predict what could be and with what’s been altcoins nature, it’s often difficult to push back once it dumps drastically.

In most cases, people confuse the price (looking at how many they could get for the least $) to be some way to invest positively but it’s not. Some coins are just out there to enrich a few early birds and the team behind the project that’s all.
Before you take up some altcoin investment, you should have an idea of what the coin is out to do in the cryptospace, those behind the coin, what blockchain it’s built on, prospective exchanges and more of those. It aids you to make better decisions than just jumping on the price.

[Pokapoka124]

You for tell us the name of the altcoin, you nor know weda some of us deh hodl am here. Abi you just won keep us for suspense. If you observe well for forum, people dey always cap say buy bitcoin, comot body for altcoins. E get why them dey talk like this. The wahala wey follow altcoin investment nor be here, but when you still check the overnight success and the money wey you fit achieve, you go just gather mind say make you risk am. For my own side, I go say altcoin be like gamble them nor dey sabi am. Na just luck. Cause you fit do all your market research and analysis finish, one tweet go just make the coin drop reach ground.

[letteredhub]

I almost made a bad investment decision today, i was at the verge of investing on a low value market cap altcoin not to mention the name.
 I was just searching for a coin that I can invest a little funds on to hold for the next five years, I had already picked up my phone to complete transaction before it occurred to me that I should always make informed decisions, it was then I found out that I was just carried away by the price of the coin ☺️, with this conciousness I decided to do a little research and analysis, I found out that the coin is on a massive decline with a strong double top pattern heading towards the neckline ,which is a strong indication of a future down side move. So in cause of this experience, I learnt a very important lesson , always do an in-depth research and analysis before committing funds to an investment decision.

 

Altcoins investment no be for long term investment plan, na normally for short period's wey we no person fit just dey certain on how short the period suppose  be like but you just gat make up your mind say anytime profit show face na to jump out immediately. Five years you mentioned no be beans oh, and I go tell you say if you really get that mind to hold your portfolio for five years then bitcoin na the right coin to put that money into. Anything long term plan for cryptocurrency think bitcoin and nothing else because the country n done prove eim worthiness of being trusted and if you check you go see say na eim be the leading cryptocurrency since eim creation till date no shaking.

[EluguHcman]

It would had been better you tell what crytop Coin it was so that everyone could take concious note but that is by the way.
I already sensed it is one of those AltCoins which are not reliable and are dumped with the volatility potentials to loose your funds at all costs.
OP, if you have not Invested into Bitcoin then you must have been missing.

[Samlucky O]

I almost made a bad investment decision today, i was at the verge of investing on a low value market cap altcoin not to mention the name.
 I was just searching for a coin that I can invest a little funds on to hold for the next five years, I had already picked up my phone to complete transaction before it occurred to me that I should always make informed decisions, it was then I found out that I was just carried away by the price of the coin ☺️, with this conciousness I decided to do a little research and analysis, I found out that the coin is on a massive decline with a strong double top pattern heading towards the neckline ,which is a strong indication of a future down side move. So in cause of this experience, I learnt a very important lesson , always do an in-depth research and analysis before committing funds to an investment decision.

 

That Is good for you. We alway preach about shitcoin that has no value and how they have ruined people's investment, but I see that it's still a temptation or suicidal attempt to hit jackpot in on an unrealistic dream. So many of us have tried it and it didn't work out well so it's not something worth investing. although I haven't seen the coin in question and hoping to see before I can throw more light to it.

[Brainiac01]

Yeah I agree with you on this Indepth knowledge of this things should be made, with the lift from FGN I think we'll see more of the fake coin and even worst more influencers rooting for the project. You'll see more this year. If you don't know more about it you can always ask someone who's into the space. My pastor saw similar coin sell recently and was wise enough to confirm from a friend of mine who quickly notify him that it was not what is look like.

[Promocodeudo]

I almost made a bad investment decision today, i was at the verge of investing on a low value market cap altcoin not to mention the name.
 I was just searching for a coin that I can invest a little funds on to hold for the next five years, I had already picked up my phone to complete transaction before it occurred to me that I should always make informed decisions, it was then I found out that I was just carried away by the price of the coin ☺️, with this conciousness I decided to do a little research and analysis, I found out that the coin is on a massive decline with a strong double top pattern heading towards the neckline ,which is a strong indication of a future down side move. So in cause of this experience, I learnt a very important lesson , always do an in-depth research and analysis before committing funds to an investment decision.

 

If you chose not to mention that's fine, am happy that you realized yourself early, most people make this kind of mistake, investing in a coin is not a bad idea but the problem is, how well do you know such coin, what's the possibility of such coin being well recognised in the market in the next 4 to 6 years of your investment, if you notice that the profit of a coin in terms of long term hodling is zero, why then investing in such coin, I think trading towards that lane will amount to high level of foolishness, I must congratulate your courage and resilience to even think of investing in altcoin at this time, since you know the approach to follow already, continue doing so, to avoid being a victim of circumstance.

[Kliss]

That's great awareness, It's crucial to make informed decisions when it comes to investing, especially in the volatile world of cryptocurrencies. It's easy to get caught up in the excitement of a low value altcoin without considering the bigger picture. Doing thorough research and analysis is a major key factor in understanding the potential risks and rewards of any investment. It's Was  fantastic that you took a step back and realized the importance of making informed decisions. Remember, knowledge and how informed you are is a powerful tool when it comes to investing.

[icebar]

If you won invest for cryptocurrency but you no sure which one to choose, you fit ask questions here and people go fit advice you. You self try find out the coin market cap, and we dey talk about am every day to encourage people make dem research before dem buy cryptocurrency. If you no do your homework before investing, you fit regret am later. We thank God say you get sense for this matter when you still young.