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Bitcoin is near ATH again, people will get scammed

By Aldeneer | Techrosmos | 5 Mar 2024


Good news:

Bitcoin, the world’s largest cryptocurrency, is once again making headlines as it approaches its all-time high. As of today, Bitcoin is trading just below its record high, and people predict that it is likely to surpass this level soon.

While this surge in Bitcoin’s value is a cause for celebration among us, it also opens up opportunities for people to get "scammed". What do I mean by that?

FOMO:

Prices this high will likely make bitcoin a top subject in mainstream media again which means that more inexperienced investors will flood the market again and get burned. They will think that bitcoin will go to the moon (100k or more) and they will be rich overnight. Of course this won't happen and the price might fall on its head very fast, it is crypto after all. Those people will then whine about how much they got scammed.

Also the rise of BTC's price will drive the demand for meme coins and other scam coins. People want a new bitcoin or ethereum and those coins will look like a new money making opportunity. 

Fear of missing out is a strong drug. Don't fall into it.

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Aldeneer
Aldeneer

I am a blogger and I want to do something to earn some crypto during this bear market...


Techrosmos
Techrosmos

Blog about cosmoshub cryptocurrency environment and other crypto related stuff. Combines $ATOM related topics with my rants.

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