I prefer old coins with strong fundamentals to invest in when the market is down. new coins run the risk of being useless, unvaluable and difficult to recover. we see how many coins in the pancake lose their value even die.
just like you, I also prefer coins that have clear fundamentals and real functions, so it will be easier to follow developments and set the right timing. For me, most new projects (not all of course) have a high risk because they are often only played by hype, indeed the price can pump hard, but the possibility of falling is also equally large.
Of course, there are people who like to ride the waves of new projects, that's the right of each, because everyone has a different tolerance for loss. Basically, we have to know whatever we are going to invest in, don't just get carried away by market hysteria.