It seems that every three to four years cycle new altcoins always takes a position in top 20 list on coinmarketcap, those who are leading the top 20 of 2017 are done for right now, only very few remains, now it seems this is what's going to happen in 2024-2025 too, now tell me why investing in a new project a bad idea? Cos I plan to look into new projects for the future instead, what do you think?
For me, this will take as a lesson for everyone, especially for those new people that starting to explore cryptocurrency and doing some investments.
There is already lof of projects that have been proven over time, most of them are just good in the beginning, pure hype and they just want to steal money from the people.
I am not telling all altcoins but just be careful, avoid marrying your altcoins, and learn to take profits too.
Good advice but it is a shame most people will not try to put it into practice until it is already too late, even if we advise newbies to always be ready to get rid of their altcoins at any moment, newbies cannot help but to get attached to their shitcoins, and instead of getting rid of their coins decisively when those coins are going down they keep holding them thinking about a recovery which never happens, and we have a fresh example of this in luna, which gave people weeks to get out before the disaster happened only for them to miss that window and lose almost everything.