- Shitcoins promise 10x gains very quickly, but shitcoins aren’t your friend
- You’ll end up losing more chasing gains with shitcoins than playing the long game
- Ditch shitcoins and focus on smart long term crypto investments if you want to win
Unfortunately, in the crypto world there are a lot of people that are simply looking to make a boat load of cash as fast as possible. This is exacerbated by crypto YouTubers that get paid by projects to hype up their shitcoin to all their followers while they’re getting paid and dumping their own bags at the same time.
If you really want to make it in the crypto world, then you need to stop chasing overnight 10x gains and start focusing on long term 10x potential. You’ll end up winning more trades and with a better bankroll at the end of the day – here’s why!
It’s Incredibly Hard
The first and foremost reason as to why you should give up the dreams of making a million bucks in a couple of days from one shitcoin is that it’s simply too tough. There are millions of shitcoins out there, and unless you by some miracle pick the one that gets pumped, you’re going to float around for days.
In the past 24 hours, only two shitcoins have managed to achieve more than a 10% rise, let alone a 10x. Aave is up 84% in the past 24 hours, while UMA is up 17%. If you take a look at the past 7 days that number jumps to 6 coins. In the past 7 days AABC is up 75.88%, WAVES is up 20.38%, OCEAN is up 18.99%, FIL is up 18.71%, RSR is up 18.58% and XLM is up 10.04%.
As you can see, none of the 24-hour movers can sustain the gains for a week, highlighting the fact that it’s likely a pump and dump.
More Losses Than Gains
If you’re thinking, but 6 shitcoins up more than 10% in the past 7 days is still pretty good, you’d be wrong. There are 17 shitcoins that are down more than 10% in the past 7 days, while there are only two down more than 10% in the past 24-hours. This just shows that making money fast is incredibly hard, and if you don’t pull the trigger at the right moment, you could end up down 37.64% or 11.77% like AR and CRO bag holders currently are.
Take Your Time – Don’t Rush
If you really want to make money, your best bet is to pick out a few solid coins that have utility and live use cases. These are the coins that will be around in a few years’ time and they’ll be the ones that people eventually pile into because they’re required to access certain features, companies or products. Buy buying these top coins now, you’re ensuring that you’re set up for the long term.
Sure, buying 1 Bitcoin right now won’t make you a millionaire in 5 years, but you’ve got a pretty good shot at a 10x in 5 years. The same goes for so many other top coins out there. So, if you want to get a 10x coin, buy a top coin that has a real-world use case and hodl it for a few years – it’s the best way!