So right now the market is unpredictable. Even in this condition as we all can see most YouTubers and even Kucoin, and Binance exchanges promote meme coins. What would you guys do about this meme coins project? are you guys ok to invest in these coins or rather not invest this time? because most famous coins like shib, and doge are now in the dip as we can see.
Investing in meme coins nowadays particularly in this bear market is something we need to avoid because it will only bring losses in the end. Though it seems profitable at first like we used to see dogecoin and shiba inu before, but look at where they are now, their value have been very low and might lose their value eventually if they are not relevant anymore. If you want to invest for sure profits, just stick to bitcoin. Although the profits seem to happen for long, but you know it will never be undervalued.
There is a very high risk of investing in meme coins during a bear market, because it is not necessarily the case that the hype that occurs in meme coins
will happen again. Moreover, the performance of meme coins is getting more and more worrying now, I don't see meme coins will recover again.
As you said if we want to invest it is as good as choosing Bitcoin, because Bitcoin is the safest choice for investment, especially when a bear market
occurs, only Bitcoin has a very high chance of recovering. Because Bitcoin is different from meme coins, Bitcoin does have very strong fundamentals,
Bitcoin has indeed been proven to always be able to recover even though the price falls very deep during a bear market. So we must be wise in spending
our money, choose crypto that is proven to be safe, don't let us make the wrong decision by investing in meme coins in a bear market situation like today.