Now too many projects nowadays make it easier for us to put money in, but what I usually do is invest in new projects with a large number of social media followers, if it's on a telegram or discord group then we can know whether the discussion is natural or just settings.
That's right that there are too many projects nowadays which means you will have a high chance of getting scam if you invest in a project with high followers as it could be a bot or alt accounts. Many projects nowadays are scam that is why joining signature campaigns from bounties is not a good choice to do in the first place. Though Bitcoin is not an altcoin or belong in this board but it is much better to invest in it or buy stable coins if you think the price will decrease.