Will Tron (TRX) Leave You Holding the Bag?

3247 6 1 1 1 1 (5)


Hello dear reader, by this time we all have probably heard about Tron (TRX). This thing has been hyped non-stop since it's inception. It seemingly doesn't matter what actually happens to the price, you always hear the same things: "It's going up", "$100 eoy", just a small sampling of the inane comments you'll see on any message board "discussing" TRX. I put that in quotations because it is always less of a discussion and more like countless attempts to sucker others in.

Tron has been all about hype marketing since the beginning. Justin Sun reeled investors with his clean-cut pop star looks and convinced them the future was Tron (TRX)! Soon,  John McAffe got in on the action spreading the word about Tron (TRX) to all of Twitter (NYSE:TWTR). It worked! Boy did it work! $14 billion dollars later it was high fives all around.

Elated with the direction of this project the ICO buyers were sitting pretty, some of them holding millions of coins and massive unrealized gains. Soon cracks started to appear. Parts of the whitepaper were revealed to be plagiarized and buyers started to ask themselves if Tron (TRX) even had a product at all. Well shocker, they didn't, they don't and yep... they probably won't. Ever. From there previous investors started to sell, and they didn't stop selling. The endless cycle of jargon-filled video conferences did nothing to stop the decline.

Today, Tron (TRX) sits at a measly 0.03 USD from its all-time high of .25. Those holding the coin from the very beginning still have a small gain, anyone who bought mid-December or later, and is still holding, are suffering losses. But most of these holders have likely sold at this point, or well before, and saw a tidy profit. What this leaves us with is a cult of holders who bought the tip or caught a falling knife on the way down. Seriously, the hodl gang has nothing on these guys. Every day they are beaten mercilessly by trading bots scalping fractions of pennies. Selling isn't an option because the loss would be massive, so they continue to hold, it's a bloodbath. Occasionally the bots will start to move the algos up a tad and the TRX cult gets fired up.

Get your bags ready

"Time to load the boat!", another 25,000 Tron added to the position. The .21% gain on the day was too enticing, this is surely Tron's moment. It's about to explode!!! Predictably, the rise is short lived and Tron (TRX) begins to bleed again, 1 Sat at a time, fractions of a cent. The result for buyers is just a bigger bag and a lot of false hope. TRX believers are going long, and they are staying that way, unaware of the fact that they are just the prey of algorithms on these hunting grounds.

We can all take away a lesson from TRX though. We see this story play out over and over in both crypto and stocks. The speculative bubble is driven up and like moths to a flame victims pour in. It is important not to get sucked into the hype and rumors. It can be very easy to let greed overtake reason.

This is the case with TRX holders, especially the ones that bought at the top. The FOMO has become a permanent mentality and you can find them plugging away on message boards and forums every day trying to bring back the good old days. More rumors, more hype, more coins added, and more blood for the machine. I'm sure some will dismiss all of this as FUD and I could be wrong, maybe TRX will be trading at 100 USD at the end of the year, maybe even more.

That is unlikely to happen though. The enormous 100,000,000,000 coin supply will keep demand minimal and it is clear that no product will ever materialize. A token with no purpose. More holders will lose hope gradually and finally lose their bags at a loss.

There is a moral to this story and you can avoid these sorts of situations in your portfolio quite easily. Doing a little due diligence can go a long way. A simple Google search may turn up immediate red flags on that coin you were frothing over just a few short moments ago. Inject a healthy amount of skepticism in your investments and don't act on unsubstantiated rumors, suss the situation out, and look for proof or solid sources other than @make$money_23 or @knifedag. Research the technology that is emerging today. It can be time-consuming but a better understanding will save you from fast-talking jargon and nonsense propositions of impossible promises.

There are a lot of outlandish claims made with big words out there and to the laymen, it can be so bewildering they drop research and buy in blind faith. This is by design, it isn't an accident and it's a scam as old as time. TRX is just a modern snake oil and the internet is Justin Sun's stage for a sales pitch. This brings us to the final point of this piece: Admit when you're wrong! It is ok to make a mistake in a trade. In fact, it's inevitable. It will happen no matter how good you are. Admitting it to yourself early and shifting your position can keep that headache from becoming a migraine.

Disclosure:

I have received no additional compensation other than the Ethereum that Hade Technologies pays to produce Exclusive Content.

Comments (5)

image

Many think Tron scandal could wipe out the crypto market when it becomes realized. I don’t think so. It’s still small relative to scope of market, but the issues are serious and it just further puts a dark cloud around the industry.

   0   Reply (4)   Follow(437)  

    image

    I agree Brian

       0  

      image

      Test

         0  

        image

        John Mcaffe is something else

           0  

          image

          Cool

             0  

            Recent Updates

            •   
              Mar 6, 2019 11:15 PM

              DENTSPLY SIRONA Inc - Consumables Revenue

            •   
              Mar 6, 2019 11:15 PM

              DENTSPLY SIRONA Inc - Europe Revenue

            •   
              Mar 6, 2019 11:15 PM

              DENTSPLY SIRONA Inc - United States Revenue

            •   
              Mar 6, 2019 11:15 PM

              DENTSPLY SIRONA Inc - Rest of World Revenue

            •   
              Mar 6, 2019 11:15 PM

              DENTSPLY SIRONA Inc - Technologies and Equipment Total Net Sales ex. PM sales Revenue

            •   
              Mar 6, 2019 11:15 PM

              DENTSPLY SIRONA Inc - Technologies and Equipment Revenue