Almost everyone is interested in knowing which crypto project will “go to the moon”. And why not as knowing the answer can be the difference between becoming a millionaire and remaining penniless.
During a bull market, almost every project looks like a winner as investors are euphoric when the market rises as a whole. Thus bull markets are not a good time to determine which project is more resilient than others.
When a bear market comes in however, weaknesses in projects start to pop up. One of the first companies to go are the scammers who never intended to make good their development promises. These people are usually not worried about their reputation so it is an easy decision for them to pull the rug on their scam before their earnings are lost due to the bear market.
Next to go would be legitimate projects that are well meaning but lack the expertise, experience, or the resources to survive. Unfortunately, you need all of these to be able to sustain your project through a long period of time.
An alternative to totally shutting down the project is to put it in hiatus. I have seen a number of projects and even companies that went on hiatus. Maybe my experience is limited but I have never seen any of these start up again. As an investor, I would treat these projects in hiatus as closed projects and would not expect to get my money back.
So how do you spot a resilient project in a bear market? The answer may well be “Continued Development”.
If a project is still developing even during a bear market, then this means they have enough alternative resources to do this and have full belief in their project irregardless of the economic situation outside.
Now take a look at the projects you support. Did they go on hiatus or close down totally? Or did they double down on development anew consider the bear market business as usual? I’m happy to say that Cardano is in the latter camp. This is the mark of a truly resilient crypto project!
In conclusion, if you want to ride through this bear market and become a winner when the market turns back up, look for projects that continue to develop. If you are patient and play your cards right, you may just get a tidy profit in the end.
In other news, WISH Pool has continued with its donation to the educational charity Ngee Ann Polytechnic Fund.
WISH Pool is the creator of Cardano SPOT Check, an online resource for Cardano Stake Pool Operators for maintaining their nodes. We are part of the Ardana ISPO and were a recipient of the IOG delegation in 2021 and the Cardano Foundation delegation in 2022. If you like this article, we greatly appreciate if you will delegate your ADA to WISH Pool. You will be earning interest rewards while indirectly helping the lives of disadvantaged children. This is because we pledge to give at least 10% of our own profit to educational charities so that successful students can help get their families out of poverty. Let’s help grow the community together!