BTC, ETH, UNI, ATOM, COMP By CointelegraphFebruary 1, 2021
Over the past seven days, the crypto market saw an uptick in volatility as (BTC) and Dogecoin (DOGE) price rallied higher simply because of social media activity. In situations like these, traders who make their investment decisions based on emotions tend to incur heavy losses and this is exactly what happened last week.
Dogecoin’s (DOGE) recent pump and dump caused several new traders who bought due to FOMO to lose money within a short time and this scenario is likely to play out again as social media groups have decided that collective pumps of altcoins is a new method of investing.
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