Many cryptocurrencies are available in the market for scamming users. They often run multiple presale events and, once they receive investments, they disappear with people's money. Then, they start a new project under a different name to scam again. These actions are unfair to crypto users.
If you are investing in altcoin, it’s better to look for the once that have been in the market for long time, if you think you can make crazy amount of money from new projects, then you have to be prepared to be scammed, because most of the new projects entering the market are created by scammers, and some that are real might get low turnout due to most people being scared of being scammed or lack of proper marketing, but I will say investing in bitcoin is far better than investing in both old and new altcoins, because they can fail us, just that the rate at which new altcoins fail is just more than the altcoins that have been long in cryptocurrency space.