A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Firstly, not all altcoins are able to survive during this bear market, even if they can survive, they may not be able to reach their ATH again, as usual, commonly for altcoins that have quite similar ideas to others and are not powerful ones.
Secondly, they are supported by FTX mostly. This is also the main reason why this altcoin may be falling down and cannot rise up as expected again. We also know that the FTX team is struggling with their project hard for now, moreover with their condition right now, I ma not sure that they may be able to support us again. The event they are supporting, will not give a big influence tot heir price.
Thirdly, if your friend is selling their cons, does this mean that they are lost from their initial price? If the loss is not too much, it is better to switch their investment to the Bitcoin, this is more promiisng than altcoins like them.