Quote (dvls @ Oct 28 2021 02:27pm)
i know a few people who have made a very heft profit off of analyzing the coins and have made fairly accurate predictions for a profit.
even if it is gambling, its better chances at making profit than real gambling is
I don't think they made profit by analyzing, they made profit by being lucky just like I did and thousands of other people did. Their "analysis" very well could provide the exact opposite result next time. It's meaningless. Anyone who has been in the market for a fair amount of time knows this. All you have to do is look at DOGE's history to prove this, as well.
Yeah, I "analyzed" the chart in May and profited off of it but in the end all I was really doing was throwing money in and hoping the timing was right. That's all anybody was/is doing. And if I would've done the same thing a few days later, I would've lost most of my money very fast. These aren't stocks, and it's hardly even worth calling these crypto. They're just a tool for gambling. There's just no meaningful analysis to be had other than general momentum trading and the technical analysis that you'd do in momentum trading really doesn't apply to these coins at all from what I've seen. Too many kids jumping into the market in the past year and thinking they understand how these things work because they got lucky with shit coins imo but I guess I'd be curious to see what "analysis" we're actually talking about here and if there's any true consistency to that analysis because maybe I'm missing some secret sauce?
Quote (Alyssasaurus @ Oct 28 2021 02:40pm)
true, follow the hype i guess
Yeah I'm certainly not bashing anybody who's trading these coins because there's definitely money to be made but there's just no legitimate analysis for these imo you either get lucky or you don't. There's no smart trades or plays here, it's just throwing cash in at the end of the day
Edited: to be less of a dick because I'm trying to stop being such a dick
This post was edited by Greeley on Oct 28 2021 02:21pm