A wise investor is the one doesn't jumpy and easily fall for FOMO. You are right about investors to need to be pickier than before since the market today is oversaturated so they need to be wiser. The scammer is also more tricky than before too.
Fear of losing profit is what makes most investors rush to make an irrational decision at the wrong time, if the investor is wise and courageous, he should make his decision after a long time of thinking and after seeing the advice of many experts. Also, investing in new currencies carries a lot of risks, the investor should be more experienced and aware, so everyone should make his decision after studying the project.