TL;DR

The “Uptober” hype shows the crypto market’s vulnerability to pump-and-dump schemes, repeating past financial crises where artificial booms invariably crash, leaving investors with heavy losses.

Story

Another day, another crypto hype cycle bites the dust. The image shows a flurry of excited posts about an apparent resurgence of the cryptocurrency market, using terms like “Uptober” (a play on words suggesting an October price surge). It’s the same old song and dance. Remember the dot-com bubble? Enron? 2008? History repeats itself, only the costumes change. This “Uptober” frenzy is likely nothing more than coordinated hype, aiming to pump up prices before a crash. These pump-and-dump schemes ‣ Pump and Dump: Artificially inflating an asset’s price through hype, then selling it off at the peak for profit, leaving others with losses. work by preying on greed and FOMO ‣ FOMO: Fear Of Missing Out.. They lure in unsuspecting investors with promises of quick riches and “guaranteed returns.” Then, when the orchestrators have offloaded their holdings, the bottom falls out. Victims lose their life savings. We’ve seen this movie before. Don’t be the sucker at the end.

Advice

Ignore hype. Do your research. Only invest what you can afford to lose completely. Never trust promises of guaranteed returns—they are the hallmark of a scam.

Source

https://www.reddit.com/r/CryptoCurrency/comments/1nopnh3/were_so_back/