It depends on which altcoins you mean.
Try looking for undervalued altcoins with strong teams and backgrounds. You don't even have to hunt for something entirely new; you can still make good money by investing in altcoins from emerging Layer 1 (L1) projects like decentralized exchanges (DEXs), NFT marketplaces, casinos, and others. These often grow much faster compared to the main layer.
And for those you want to say, there are 1000's of base projects, all i want to say, is that if any anon land into a new layer and looking for use the chain they will probably use these 3.
I've already made a life changing money by this "tactic", although it's simple, it requires patience and self-belief as you wait for your coins to reach your target price.
And yes, there are still many Layer 1 platforms with potential, and within them, numerous projects that can help you earn big $.
Whether it was from Layer 1 or not, it still depends on the choice of altcoins and also on how we manage it and the strategies. If we can make a buy a cheaper price and are able to sell them high, profit will certainly come. In fact, many people invested in known coins, and yet, they still suffered losses due to mismanagement of funds and also of uncontrollable emotions.
Well, taking the opportunity of buying while the market is corrections seems to be our ticket to earn more but as I said, that will depend on the project we choose.
Thus, it is important to always do your due diligence before jumping on any hype on this market.
As we have thousands of alts, only few of them have bright future, and mostly, only those with solid foundation to begin with.
You will have insights on how they will survive in this market by checking the dev team themselves.
Are they actively developing the project? Are their outputs visible to the community? Are they useful to begin with?
Just few questions you need to contemplate with before thinking of buying in the trading market.
