Lessons from the collapse of LUNA in the crypto world
1️⃣ Never invest more in cryptocurrencies than you can afford. This should be the first condition for every crypto investor. Even the strongest currency and project can fade and disappear within days 👍
2️⃣ Conduct detailed research about the project you will invest in
💢 Below are the indicators that I use when I conduct my own research about the project:-
✅ Experienced team members
✅ Continuous development and construction
✅ There is no price speculation from team members. This is a dangerous and disturbing matter 🥴
✅ No fake hype from the team, spreading roster rumors, sharing moon sheets, excessively exaggerated comparisons, etc.
✅ You have a clear roadmap and vision
✅ Strong backers venture capital, foundations, etc
✅ Good community
3️⃣ Be skeptical. Ask questions. Find an appropriate answer to the issues discussed by people. If none of the team members can give a satisfactory answer, be careful.
4️⃣ Check simple metrics in tokens such as circulating supply, burn, print, vesting schedule, seed, private sale price, portfolio analysis, calculations, and token flow in the explorer. This can provide you with a lot of useful information.
5️⃣ Monitor the behavior of team members. See how they handle communication with the community. If they close down even a logical question, this is a big red flag 🚩 Beware.
It is always better to enter at the lows and collect in price stages from the low areas 🤗
