Hi all my crypto friends, 

Today I'd like to briefly discuss the need to beware of trusting too much on all alts to generate money during this bull run.

Please bear with me while I draw on my experience from 2017/18. At that time Bitcoin was reaching all time highs and people like me were looking for coins to invest in that would replicate the meteoric rise in value of Bitcoin, Ethereum, Monero, Dash, etc. In other words, we were all looking for the next moon coin. Some did indeed manage to invest on coins such as Tron or Cardano or Verge which kept going up until the early part of January 2018. I remember reading at the time that if you had invested about $64 into Verge before the bull run, in early 2018 you would have become a millionaire.

With that in mind I did invest in a variety of alt coins reasoning that, the more diversified my portfolio was, the more chances to pick the right moon coin. Problem with that was that most alt coins, realistically, are useless and will probably never last for more that a few years. In other words, their real use case is non existent or their utility greatly exaggerated. And I'm not even getting into the scam coins, which there are still many around.

Unfortunately, my greed pushed me to not sell all the coins that were doing great up until March 2018. My thought was, they'll keep going up, why sell now? I now realise how foolish that reasoning was, when considering ALL alts I had invested in. Some of these coins went into oblivion within a few months, whereas some other lasted one or two years before disappearing or being worthless (KIN anyone? LOL). If I had put all my money into Bitcoin or Ethereum at the time I'd now be very rich.

Now, I'm not saying there won't be new moon coins with this bull run; I am certain some will skyrocket up to Jupiter. What I am saying is that you need to DYOR (do your own research) on any coin you're considering as an investment and that such research has to take into consideration several factors. I look at the age of the project, the founding team, whether the team is still all there or if they've had internal fights. I also look at things that point to a quick pump & dump scheme, such as the team shilling like there's no tomorrow instead of concentrating on development and real marketing. 

When you look at some of the alts that are already doing well in January 2021, you can see great fundamentals and great teams. Conversely, some coins that promise the moon are only one step away from total collapse. 

So please, always DYOR before investing into an alt coin and don't be too greedy like I was. If you can afford it and want to put $50 into a potential millionaires-making coin, by all means go for it. Just don't invest too much money, especially if you can't really afford it, into any alt coins. 

What are your thoughts? What alt coins do you think will do really well this bull run? Please leave your comments below and consider tipping if you liked my article. Thanks!