Almost all crypto is down 80% from All time Highs of late 2017 and Early 2018. IMO It is on sale, but be aware there is a lot of garbage out there. I recommend picking projects that have merit, real use cases and a community following, plus decent activity on GitHub.
My highest conviction: NEM for many many reasons, but I am not here to shill NEM, but I will give you a Macro picture of the crypto currency industry.
This might surprise you, but most people in crypto are not savvy investors! They are system 1 error prone sheep ( system 1 error = react emotionally not logically; system 2 error logical mistake), these people buy when the price and valuation is high out of FOMO and sell when it is low out of FUD; instead of the other way around.
Now is probably the BEST time to BUY, not at all time highs.
These people don’t truly understand the underlying tech and potential so they have no way to assign value.
So they go with the flow and panic sell when it is low. This is a useful thing to know,
since this brings A LOT OF VOLATILITY and opportunity into the market. This volatility allows you to BUY LOW, and SELL HIGH, or average out a good buy in price. The volatility is how traders make money.
So you need to ask yourself are you an investor or a Trader. Trader may hold the trade for a few minutes, hours or days, months. But an investor holds the position for years. Investor buys at lows/ dips and averages a good entry long position based on technical and fundamentals. If you are a trader then use this extreme volatility to trade. If you are an investor, then do your homework and stick with your choices for a few years unless there is new information to make you change your position. And if price drops but fundamentals have not changed then you got yourself a SALE. You get to buy in at a lower price entry.
I am the authority in the crypto industry at least for my friends and family. Funny thing is: They ask me what to buy only when market is near tops, and they ask me to talk them out of selling at bottoms. Having been in the space for a while now I am used to the crazy volatility and benefit from all the experience. It took me over 10 years of stock investing to get good. It took me over 15 to get really good. For crypto I say it takes a couple of years to learn a lot of lessons you can’t learn in any other way than to experience them first hand. Learning how to store your coins safely, how to avoid paying fees or unnecessary high capital gains, air drops, forks, bull/ bear (FOMO, FUD) cycles, what news sources to trust, how to evaluate projects, how to assign relative BTC value.
One important thing to keep in mind as a huge potential catalyst, The wall street hoard is coming and soon, IMO. As soon as there are clear regulatory rules or guidelines that makes some sense, the wall-street billions on the sideline are going to pump this industry well past a trillion. Fun fact to keep in mind: every 1 billion that enters the market = ~$20 billion appreciation in the market value.
So $50 billion injection will bring the market back to all time highs. In my valuation NEM should be top 3 or 4 coin by market cap.
For your consideration ADA # 7 crypto by market cap vs. NEM