Can COVER and Ripple still buy? Prerequisites for long-term investment


The prerequisite for choosing to buy when a project plummets is that the project is promising in the future. Otherwise, it will fall into another pit, which is counterproductive.
In the past two days, the information about COVER and Ripple projects has been relatively hot in the circle. COVER was hacked and caused a sharp drop; Ripple was in constant trouble because of being targeted by the US Securities Regulatory Commission.

Many friends have asked me if I should buy COVER and Ripple on dips.

The prerequisite for choosing to buy when a project plummets is that the project is promising in the future. Otherwise, it will fall into another pit, which is counterproductive.

No matter what method of investment is used, it is bought when the price is low and sold when the price is high. Long-term investment is no exception.

Since the long-term investment holding period of a product will be much longer than the short-term speculation, during this long-term holding process, the investment target held may face various internal or external risks. Some of these risks are noise, which will only cause currency price fluctuations for a short time, but some may be a fatal blow, directly leading to a complete collapse of the fundamentals of investment products, and the currency price eventually returning to zero. This fatal risk is the biggest risk and the biggest uncertainty faced by long-term investment.

Therefore, when we make long-term fixed investment, we must pay special attention to and avoid such fatal risks.

Let me take COVER and Ripple as examples.

After COVER was attacked, the price plummeted from around US$800 to only around US$20, almost to zero. Should we take this “opportunity” to buy for such a plunge?

Then we have to see if the risk that caused this plunge will be a fatal blow to the project, if it is, not only can’t it be bought, but it must be thrown away. If it is not, then it is definitely possible to start buying fixed investment. But what if you are not sure? I suggest that you wait and see the changes for the time being, and neither buy nor sell.

Yesterday, I carefully read the various information and announcements released by the government on Twitter. At present, the project party is actively dealing with this matter and emphasized that this matter will not affect the project’s established development plan. The project party will continue to schedule The new version will be launched in the first quarter of next year.

Generally speaking, I think the attitude of the project party is still relatively positive and is trying to get the project back. But from another aspect, as an insurance project, it is very ironic in its perception that it has been attacked, and this has left a laughing stock in the entire circle.

Under the influence of these two factors, can the future development of the project sweep away the negative image that everyone has built up in psychology, so that the project can regain popularity and be sought after again? I think it is impossible to judge now, the uncertainty here is too great.

Therefore, I suggest that investors who do not have this token should not buy it temporarily; and whether investors who already hold this token will sell it depends on their personal assessment of the project. I am also an investor in this project, I will choose to continue to hold the project tokens, neither sell nor buy, and continue to pay attention to the subsequent development of the project.

Ripple has recently been chased by the US Securities Regulatory Commission and has been in trouble. In my experience, once the US Securities Regulatory Commission starts specific actions, it will not give up without a result. Therefore, if Ripple is not dead this time, it will lose its skin. If lucky enough to survive, according to past practice, I am afraid that the CSRC will have to pay a huge fine.

After the US Securities Regulatory Commission began to take action, the follow-up actions of the major exchanges were quite like “the wall was pushed down by everyone”-they were removed from the shelves or stopped trading. Exchanges do this, I think on the one hand, from the perspective of interest, the current Ripple is a tasteless one. It is not cost-effective to spend energy on maintaining this transaction, so they just don’t want to play. Ripple’s involvement provokes the US Securities Regulatory Commission.

Furthermore, from a fundamental point of view, Ripple is now worthless. In the long term, it has no potential or room for development.

Therefore, no matter how you look at it, Ripple’s fundamentals have been broken, and there is no long-term investment value for such investment products, so it is not worth buying.


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