How do you find the next big opportunity in a market downturn?

[hustlebuddy0]

As crypto enthusiasts, we're always on the lookout for promising projects, especially during market dips.
At the moment a lot of experts have been suggesting that projects like ICON (ICX), might be a good option. 

From what I've gathered about the project on the internet, it looks like a Layer 1 blockchain platform that's trying to simplify cross-chain application development, and also provide financial services, like lending and staking.

I like to think there's a reason why a lot of people see potential in the project, and maybe this just means I have to do a lot more research to find out.

[Ujok]

I just heard about the project you mentioned, does the project issue coins or just provide loans. It seems like a very interesting project to join, can you provide a more complete explanation so I can understand more about the project or can you share the project site here.

[Freemind]

The best way to find the next "big" project is to keep looking for it. Doing frequent searches on CMC and CoinGecko for example and also on websites and blogs dedicated to cryptocurrencies is always good, but not only to continue learning and learn about the latest news in the industry, it will also help us learn about projects that have not yet been launched, so that could give us time to study these projects and maybe a certain advantage if we decide to invest in them. It is something that will not take us too much time, for example, every day, so as not to miss the news that appears.

[LogitechMouse]

Re: How do you find the next big opportunity in a market downturn?

Finding the next big opportunity in cryptocurrency requires research, experience and knowledge as well. Of course, you need money as well, but having money with no knowledge at all is useless.

Now if you find the opportunity, I would suggest to diversify it into different cryptocurrencies to mitigate the risk that you might face. Focus on the coins that have a huge community behind it and has a real use-case, and will benefit the investors. Think as a long term as well. Big opportunities like the Bear Market season can happen once every 4 years so just imagine waiting for 4 years and you will not take it.

[electronicash]

yet another L1 project. there are so many of these already and if you want to find a big opportunity among the L1, you will rather be investing to the top L1 project like the ETH, BNB and SOL. its hard to see hope for new token when its not added to big exchanges.

you need to weigh whether investing this ICON (ICX) is less riskier in investing top L1 projects because there are popular ones that you can ease your mind having to hold it for long term than this ICX that might just end up abandoned.

[Asiska02]

Re: How do you find the next big opportunity in a market downturn?

Finding the next big opportunity in cryptocurrency requires research, experience and knowledge as well. Of course, you need money as well, but having money with no knowledge at all is useless.

Now if you find the opportunity, I would suggest to diversify it into different cryptocurrencies to mitigate the risk that you might face. Focus on the coins that have a huge community behind it and has a real use-case, and will benefit the investors. Think as a long term as well. Big opportunities like the Bear Market season can happen once every 4 years so just imagine waiting for 4 years and you will not take it.

This user wants a coin they can invest into and take profits out as soon as the bear season is over, they’re not looking after coins that they’ll keep in portfolio for a long term before they can now withdraw their profits. If he wanted a coin to invest in, he won’t have wait till the bear season because the season is not certain and a lot do happen during those times.

Knowledge is important in the crypto space and anyone without the knowledge will only just waste and risk more of his investments into projects that are not worth risking on. Altcoins are risky but that’s doesn’t make one generalize them and not point out the ones that are not as too risky as some.

[Aanuoluwatofunmi]

As crypto enthusiasts, we're always on the lookout for promising projects, especially during market dips.
At the moment a lot of experts have been suggesting that projects like ICON (ICX), might be a good option. 

From what I've gathered about the project on the internet, it looks like a Layer 1 blockchain platform that's trying to simplify cross-chain application development, and also provide financial services, like lending and staking.

I like to think there's a reason why a lot of people see potential in the project, and maybe this just means I have to do a lot more research to find out.

We cannot predict for the exact situation of things that is with some of these projects, because they are in most times promising and some are not, but when we are not in the right position of taking risk on them, then we shouldn't go for them, another thing we should consider is the way we are being informed about some of these crypto projects, being a blockchain technology project does not make it worth going for without disappointing.

[Aanuoluwatofunmi]

I like to think there's a reason why a lot of people see potential in the project, and maybe this just means I have to do a lot more research to find out.

People take their time in making findings over any crypto project before they invest on them, this is done cause they don't want to waste their money on what does not worth it, some of them will also position their self for investment after making the required selection on best asset to invest, buy the dip and hold, they are not just doing this for any reason, but 45because they understand they will have to in other to secure their investment.

[hugeblack]

From what I've gathered about the project on the internet, it looks like a Layer 1 blockchain platform that's trying to simplify cross-chain application development, and also provide financial services, like lending and staking.

The last few months have taught us that these bridges are poor in terms of security, easy to hack, and an employee can steal your data, so do not trust any cross-chain application with a real investment. If a decentralized project appears, it will be successful, but all projects that claim to do so have a central point of failure.

[bitterguy28]

I like to think there's a reason why a lot of people see potential in the project, and maybe this just means I have to do a lot more research to find out.

People take their time in making findings over any crypto project before they invest on them, this is done cause they don't want to waste their money on what does not worth it,

obviously no one wants to lose money but you would be surprised by just how much misinformed a lot of people can be yes they will do research but sometimes these people will be consuming the wrong information and will therefore make wrong decisions not everyone who invest are investing in the right things this is why you should never listen blindly to anyone and instead dyor to ensure you are getting the most accurate information possible to make an informed decision

[joniboini]

instead dyor to ensure you are getting the most accurate information possible to make an informed decision

I think that's the biggest hurdle for most people. I believe they should at least use 2 sources to compare different data, but then they need to make sure that their sources are good or not. To do that they'll have to research each resource further and so on. This is why people turn to social media and influencers because they provide some analysis to back up their claims, not realizing that the data is framed in such a way to support the influencer's message. People don't have the patience and time to do their research properly, especially with how quick the crypto market can be.

If OP is seriously asking for tips and not doing another marketing activity for the project mentioned above (I guess that's why he got a strike), I'd like to hear how he singled out the L1 project above when there are tons of new L1 projects being spammed on social media.

[Z-tight]

It is hard to find new projects that are going to be successful, a lot of new projects turn out to be a complete waste of time for investors. I don't really have so much interest in new projects, i know that some people like to gamble with a lot of them, but be careful if you are one of those people, buy with an amount you can afford to lose, or wait until it is altcoin season before buying.

[Cryptsafe]

It is hard to find new projects that are going to be successful, a lot of new projects turn out to be a complete waste of time for investors. I don't really have so much interest in new projects, i know that some people like to gamble with a lot of them, but be careful if you are one of those people, buy with an amount you can afford to lose, or wait until it is altcoin season before buying.

New project these days are not worth to put a bulk gig in. They can not be trusted but just a few and that can be discovered if only you do your own research properly and not everyone would have that time to do such so in that case top coin which are virtually old coin would or should be the option for the moment if one would want to invest without much thoughts of developers absconding with their funds. For this reasons one would have to invest with their spare funds or with funds they could afford to loose when making investment decisions on their part.

[Mia Chloe]

It is hard to find new projects that are going to be successful, a lot of new projects turn out to be a complete waste of time for investors. I don't really have so much interest in new projects, i know that some people like to gamble with a lot of them, but be careful if you are one of those people, buy with an amount you can afford to lose, or wait until it is altcoin season before buying.

The problem right now is that the crypto ecosystem has been flooded or rather filled up with a lot of scam and pump and dump coins and tokens. Of course some people still profit over it and most likely it's the owners of the project and the very earliest investors. People who later rush into investing in coins and tokens like this only end up adding up to the pump and if they are not quick enough, the sole investors dump the coin or token before these other persons get the chance to sell off their's .

[Z-tight]

New project these days are not worth to put a bulk gig in.

I agree with you, most times the developers of these new tokens or coins only created them because they want to make money from it, so once enough investors are deceived to put their money into the project, they will rugpull and keep the money to themselves. So many of these developers are behind different projects, if they successfully scam in one, they move to the other.