Dont get court hodling a bag of S**T

in #alts6 years ago (edited)

Lately we have been seeing day after day of positive news, Bitcoin to 100k, 250k, $1000000 , big bank adopts crypto, wall street frothing , CEO loves crypto, consensus etc so much good news yet the price has slowly been dropping. My views are that we have all heard this before so the market is getting immune to hearing it. I still think the second half of this year will have some solid price growth we have the nasdaq launching an crypto exchange and Coinbase continuing to make it easier for institutional investors to come in and so much more. Project are becoming higher quality and investors are getting wiser.

Institutional money will come i don't know when but its coming. When it does its only going to legit well run projects so these are some question you need to ask yourself so you dont get stuck with a bag of dud tokens/coins.

  1. Does my token make the dapp inconvenient.
    If people use the dapp will it be easier to use the token or use the native coin to the dapp aka Ethereum eos etc. If so i promises you they will slowly make the token disappear.

  2. Will people even use the dapp.
    So many dapps are trying to fix a problem that doesn't exist or has a much better non crypto app.

  3. Is it really worth the market cap its got, even if it is good.
    Some market caps are crazy high even on good ideas compare it to the stock market and see what a similar company is worth.

  4. Competition
    How many other tokens are doing the same thing, look at how many crypto debt cards are promised and none have delivered.

  5. Working project
    Does the coin/token have a working project? and how long has it been and when will it be working.

  6. Will it be around in 5 years time
    Some dapps might be a good idea but remember no one is using these dapps atm, giving time for new dapps that can do the same plus more to be developed.

There still might be anther round of speculation buying of low cap alts, thats if your lucky. 95% of current project will be gone or worth a lot less then today in 5 years time. Unless you are god like at trading i suggest having a deep look into the project you are invested in, have a mid to long term view or your going to get burnt.

https://www.satoshiscoop.com/

Cryptoslice Facebook: https://www.facebook.com/cryptosliceaustralia/

This is not professional financial advice please do your own research before making any investments.

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