When people saw the value of Bitcoin, they also created various altcoins. Some people who make a profit from investing in Bitcoin will also choose to invest in altcoins.
In such a messy market, can we still allocate assets to cryptocurrencies? What should be done with altcoins?
We can't do anything with altcoins, there is no ban on creating new coins/tokens. Good projects will attract users and will survive. The garbage project will of course soon market layoffs. Anyway, the crypto market is flooded with scam projects, low quality projects,... and has no limits. Your job is to find high quality projects. It's not that simple!
One of the first questions I ask myself when I look at any new crypto is "does it have a use case/utility?" If this question cannot be answered, then I move on. I am not saying I wouldn't come back to it later if I see new news or learn something new, but I like my tokens/coins that have use cases. What do you think of Black Eye Galaxy ($BYG)? Upcoming NFT token that can be used "in-game" for collecting planets which the collector can use to stake or mine and get returns.