Not much has been happening in crypto lately! Probably due to the bears are in play. Although, the situation would have been a lot different if bull market was in play. New projects, new modules, new format and probably new sorts of coin would have emerged (like meme coins). The last bull was indeed exciting! In fact it was a wild one lol. But it was a great lesson to be learned! Not everything is worthy as it seems.
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Even though bear market period is going on in crypto, there seems to be few projects who are slowly making their moves. I came across few of them. Few of my fellow crypto friends are recommending me to take a look out to them. While even though some of them seems promising and at a very early stage which arises the question. Both fear and uncertainty regarding any sorts of investment in them and that even in this bear market.
Fear & Greed Index
As you can see the analysis is not really showing any sort of comeback anytime soon. Well as a matter of fact it is around twenty at the moment. Which makes it even more dangerous. As there is a strong possibility for the market to go below 20 and if that happens we are going to see a huge crash coming down the aisle. And this time many folks are holding onto a thread. Any crush as of now could could literally bring chaos to the market.
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At this point I would rather save some stables and see how things turns out in the coming days. I am also worried about this whole scenario. As it might go completely the other way around. And if that happens than my decision of waiting with stables would be in vain. Not completely vain but I would be left out of an opportunity to make some bucks out there.
Getting early access!
Apart from all this, one issue which has been provoking me a lot in investing is the chance to get in early in a project. I mean in its Alpha stage. That makes an investment very much worthy if it gets to be a successful one but on the other hand if it goes sideways than you completely loose your funds.
One of the project that I am talking about is MYRIA. Lately it has been creating a lot of buzz across crypto space. And I have to be honest, the marketing strategy of this product is indeed wise and pretty hefty I would say. The reason I am saying it is because I heard about this project from online sources HIVE folks, Youtube and also from a real life friend. That really clicked my mind and which got me real excited about. Since it is a NODE project, my friend owns 2 Gala nodes. Which is indeed his retirement fund lolz. On another note I am still not convinced in investing into this project (Unless someone can clear this up or direct me to the right direction that would be really thankful of you) Since there are lots of hidden information which are yet to be revealed. And to me that is indeed scary. But I hope all the investors on this project get to make some quick bucks out in here ;)
Not only about this project but for every other new project I get to see few things which might come in handy
- NO FOMO : Can not get excited. As there are lot's of if's and but's included in this sort of situation. What if the roadmap is not clear? What if the team gets away in uncertain situation? Happened in few projects which I got in and that was not pleasant!
- Take decision based on Facts : A good project can bring a good fortune. One lesson which I learned over the past years in crypto, if the team has nothing to hide than why not reveal themselves. Yes, one of them might have a problem with security and bla bla but all of them? Come on that is kind of risky don't you think?
- Overall market situation : As of now the best possible scenario could be waiting with stables and see what awaits. I might be completely wrong about it as well but I want to be in the safe side as of now.
Greed can be harmful at times. Better be careful about that. Also do not forget to take any opportunity which is thrown at you. Just a fact : We can not have everything! Some of them will just slide by us. Don't bother. Many more opportunity will arrive in the coming days! Cheers!
Do you have any new projects that you are looking into. Do let us know?
Best regards
Rehan
