I wanted to compare popular projects over the past year and see how they faired. This admittedly was in response to some Bitcoin maxis that were ragging on altcoin investors saying that we would be paying for the transgression of investing in altcoins versus Bitcoin this week.
And honestly just a quick read of the charts- if you invested smartly, you are still up significantly over Bitcoin- even if you didn't take profit before today.
In my opinion, this isn't 2018, a great many altcoin projects have significant development, partnerships, endorsements, support and very active communities. Even if we enter a strong bear market, regardless of price, I expect the top projects to continue driving on, building, innovating and growing.
The market admittedly is seeing a bit of a quarterly downturn now, but this also is an opportunity to see which projects resilient and which ones are vaporware (ie. not real projects after all).
Things to consider when investing into altcoins-
And honestly just a quick read of the charts- if you invested smartly, you are still up significantly over Bitcoin- even if you didn't take profit before today.
In my opinion, this isn't 2018, a great many altcoin projects have significant development, partnerships, endorsements, support and very active communities. Even if we enter a strong bear market, regardless of price, I expect the top projects to continue driving on, building, innovating and growing.
The market admittedly is seeing a bit of a quarterly downturn now, but this also is an opportunity to see which projects resilient and which ones are vaporware (ie. not real projects after all).
Things to consider when investing into altcoins-
- Active development, visit sites like Github/Gitbook which is the industry standard for logging development. You want consistent activity
- Active community engagement, visit Discord, Telegram, Reddit. In bearish cycles/markets these might be quiet, but you should still be able to reach -someone- and get an idea of where community sentiment is and how responsive moderators or project team members are. If you see no messages for weeks .. bad sign.
- Branding and marketing should be relevant/on-point. This is an extremely crowded space and the number one thing we all fight for is ATTENTION. You need to capture the attention of the market and you can do this many ways but if you see a project or token with a boring name, no meaningful logos or marketing or poor artwork, skip it unless it has major value proposition (looking at you Curve with that awful logo and dAPP but absolutely wonderful services)
- Audits are seriously important, especially in the DEFI space, but very important in all areas if you are interacting with websites or apps. Look for projects that care enough about you as investors to pay the money and dedicate the time and resources to getting audits. No audits can suggest a quick money grab or an inexperienced project team.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.