I followed CryptoMoonShots so you don’t have to!
2 min read
We all agree that rule #1 of crypto is: Buy high and sell low.
But rule #5 I also found interesting: don’t believe anything mentioned on “CryptoMoonShots.”
In late March and early April, I wanted to investigate this and virtually bought the 14 most talked about coins to follow up. These coins had several topics and the most comments/upvotes during that period.
Meanwhile, we are about 2 months later and I found the results quite surprising. My total (virtual) investment of $1400 is currently still worth $1200, a loss of 14%. I had expected much less.
Looking at the results in detail it already makes more sense. Most of the coins are heavily in losses and 2 have already been rugpulled by now. All also follow practically the same pattern, short pump and giant dump following it. There is just the coincidence that Child Support had a good timing of purchase, if you had bought it a fraction later you would have had a heavy loss here too.
This is all without taking into account costs, transaction fees, low liquidity & variable taxes when selling which can be adjusted at any time.
So I think I can confidently conclude that you better stay away from CryptoMoonshots and better lose your money the traditional way like the rest of us regards here.
Disclaimer: My rules are made up and you can do anything you want.
submitted by /u/imbarrydylan
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