Let assume you only have $1000 and you can put this money in 1-5 projects but they all have to be either old tokens or new tokens that you'll be buying. Which one will you go for, for those that will think they can choose the two type of projects, that won't be possible. I'm trying to see where the attention of investors go when selecting tokens to invest into for the altcoin season.
Ideally, I would not want to invest in either old or new tokens. For me, it's like trying to choose which shit is better: dog or cat.
But since you pose the question this way, I would prefer (hypothetically) to invest in new tokens, because the effect of novelty will influence investor interest and these projects can make a short-term profit due to the hype on them. Old tokens look like slowly dying projects that are no longer interesting to anyone and will not be able to cause the excitement that was at their start.
I prefer old ones for exact same reason, old ones already got what they wanted, so we know their situation, new ones are a bit more unknown and while they may go up, they may stay the same or go down as well, I do not like to invest into unknown.
The best way to approach investing (for me at least) is to invest into things you know, and in this case we know more about crypto and we should consider the situation to be all that important, and the best way to go about it. Of course it is going to end up with some trouble if you are not careful, but it would not be all that hard to handle neither, it would be quite possible to make it work. All in all, just invest and hold the big name coins, and you should be doing fine eventually.