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August was absolutely wild in the crypto space, and in a market that is famous for it's volatility that should really say something. We've seen plenty of projects skyrocket and some of them fall back down while, somehow, most have continued to grow. Not only that, but most of these projects weren't ones that were predicted to surge, it was for the most part less talked about and generally lesser known projects like AVAX and AUDIO.
They've definitely come down from their ATH (at least these two) but they are still 2.5x or more of what they were at the start of august. They were going up before that but August was certainly their breakout month.
There are of course other similar gainers like SOL,ADA and LUNA that were promising and very well know. So when you look at it... besides the relatively positive news that all of them had at some point there is no actual correlation between them. Especially since their movements were also different in the fact that 3 of them were constant gainers while 2 of them had just a few days in which their value increased exponentially. If we add into this analysis other big movers like AR and REV it becomes impossible to compare by price movement and timing.
Note: I'm not doing a technical analysis here, I'm just trying to use logic to connect these big gainers of August.
Additionally, when we look at these projects, there was at least merit to their price increase as all of them had a goal that was quite unique and easily distinguishable from other coins/tokens, or they had significant breakthroughs in their roadmap. There have been projects that skyrocket without even an explanation as to what the project aims to do... DOGE and SHIB being among the many, thankfully those have been quiet during this bull run with small gains so they weren't a factor this time around.
Most people know already, but when it comes to low market cap projects it is a huge gamble trying to find the next "moon", people still do it but that doesn't mean you should too. The fear of missing out is ever present but shouldn't control our buying/investing. One must stay level headed even in the face of lost profits. Looking at these movements only one conclusion comes to mind.
Investing in good projects/proven ones, or at the very least ones that you believe are disruptive, is the best way to grow your investment. Even if all you want is moonshots. Investing in good projects at the right time will net you that moonshot you want... though I don't recommend it in any case.
And as a last note, believe no one that tells you something is going to moon... he doesn't know that, cause no one does. It's most likely a scam and a way to extract money from you cause you were greedy. All that's needed is a bit of searching on google and the use of a trusty slogan:
Thanks for reading!
