"Which coin to buy? Give me a suggestion. " I have faced this question a lot and I did it numerous times. There was a time when I used to run for what others were buying. I must dive into them. Also, many trading signal groups were used to give free signals (some were paid too and those were beyond my means) and we used to follow them. During the bull run everything was normally moving up, so everyone made money too from those signals without even the need of researching or knowing anything behind those projects.
But everything doesn't go as smoothly as it always seems to. Some projects that have shown high hopes, turn into flop ones. Instead of profit, took losses. Market crashes made us see the red blood bath. I have seen my portfolio losing more than 40% of its worth, took the loss. These were the past scenarios. In bulls, you can make profits just by finding some potential projects. But in bear, it's very hard to figure out which one is going to bloom or which one is going to sink. Another hard thing to figure out is when it's a bull or when it's a bear. You don't know which one is going to attack when and how.
So from my past trading experience, I always stay away from giving any advice to anyone to buy anything. I can say that this project is looking good, it has potential, these are my logic behind the potential. These are the max things I can say, nothing more than that. Because I don't want to be the reason for anyone's regret if that project flips. I have seen this thing, people buy from hearing someone and later regretting listening to them. They will remember the loss but will forget the profit someone else led them to. In that case, it's his credit to take that risk, funny right?
I have seen projects like Cubfinance. I can still remember the enthusiasm among the BDC people, we were investing whatever we were able to manage. Crazy nights! Later it turned out profitable for some, some took the exit while neutral and some took losses. But one thing Cub taught me is the defi project rules. That was my first and longest defi project. And then came projects like Comos, banana, panther, and so on. Some were like a super flop and some were good. The first defi I saw was Pancakeswap, which had some great potential and it boomed too. If anyone had researched about it at its early stage, would have found some great potentials to invest in and could have made some good profit too. Some did too.
So you can't really predict which project is going to boom, that's what we all expect before putting our hands. All we can do is find out the potentials, look at the things it is bringing to us, reasons to get interested in investing. If we are convinced of the reasons then we should move forward. One thing I often say to myself is, "If I could really predict that this project would surely boom then I would have sold my house and invested in it, same for the others." Isn't it true? If you know that hive is going to touch 2$ in the next week, wouldn't you try to invest your level best to catch that opportunity? As I can't predict with this level of surety is the reason why I stay away from giving financial investment suggestions.
There is a crypto term 'DYOR" which means Do Your Own Research. Always follow it and another thing I have followed from the beginning is that "Invest what you can afford to lose." This way you won't be affected much by the losses you would take. if you chew something out of our capability then it's going to hurt if something goes wrong, so be careful.
