It never ceases to amaze me just how passionate some crypto enthusiasts can get.
I kind of expect it when we give a disappointing grade to a coin they love. Like bitcoin’s C+, for example.
How to Avoid Crypto Crazies
When we first came out with that last month, you could almost hear the deafening, collective groan pouring out of the web.
But it seems the fury can be equally intense when we give a good grade to a coin they hate.
In fact, that’s what we just saw this past weekend with another explosion of buzz on the internet. This time, though, it was all about an upgrade we gave to NEO, a coin that aims to take away market share from Ethereum, the second-largest crypto in the marketplace.
When something like this happens, it’s actually a bit scary. Here’s how it goes…
The Big Money Starts to Move
First, I wake up — usually around 4 a.m. But by that time, the action has already started in East Asia, mostly Japan and South Korea.
I see a rising chorus of insults and counter-insults hurled by bloggers at each other, at us and at no one in particular. They do it on Twitter, Telegram, Reddit, Steemit and more.
I’m not surprised. A lot of money is at play. Japanese own 56% of the world’s bitcoin. That’s more than all the folks in all other nations put together.
Koreans are also big cryptocurrency traders. Many of them have already made fortunes in cryptocurrencies, and they’re high rollers.
Second, the din swings over to Europe, especially the U.K. It feels like a tsunami of glee and anger, chest-pounding and cussing sweeping across the globe.
Next it hits the United States. That’s when bigger money starts to move. And that’s also when it starts to get scary.
I really don’t like to see anyone buying a cryptocurrency just because everyone else is buying it … even if everyone else is buying it because we just gave it an upgrade.
So let me give you some important caveats…
4 Crypto Caveats
Caveat 1 is about change. The pace of data and news in the crypto world is fast; in the crypto investor market, even faster.
So don’t be surprised if our cryptocurrency grades change frequently. And don’t overreact when they do. It could be temporary.
Caveat 2 follows on the heels of the first: Outdated Weiss Cryptocurrency Ratings have little more than historical value. Folks who act on old stuff could wind up in deep doo-doo, buying when they should be selling, or vice versa.
Caveat 3. Don’t trust “secondhand” Weiss Ratings. I know folks like to share with friends and family. But we’ve lost count of the number of false or doctored ratings (supposedly ours) that have been scattered around the internet.
Caveat 4. Prudent trading decisions require more than just one piece of information. Be sure to follow an investment professional with many years of experience.
Cryptocurrencies Are the Real Deal
The opportunities in cryptocurrency trading are not bogus or trumped up. They are real. There are indeed massive profits being made daily. Ditto for losses.
So don’t miss this opportunity. It is still very early in the game. Just be sure to stay cognizant of the risks.
Good luck, and God bless!
Martin D. Weiss, Ph.D.
Founder, Weiss Ratings
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