The bear market has been hard for the majority of cryptocurrency projects out there, forcing some teams to completely abandon theirs until the market starts its next hype cycle. That being said, this is the perfect time to analyze the majority of projects and figure out which ones are focused on the currency and which ones are focused on the technology. I would like to talk about the things you need to pay attention to when it comes to purchasing a masternode.
- Communication between the team and the community – keep an eye on how active the community managers and developers are on social media and how often they release AMA (Ask me Anything). Bonus points if you can spot some changes in the number of team members or their behavior.
- Updates – this includes releases according to their roadmap, responding in time to acknowledged bugs or complaints and always trying to improve the project itself.
- Vision – keeping the initial idea, not promising ridiculous features that seem way too good to be true in a really tight time-frame, trying to either improve the use-case of the project or increase adoption of the network.
- Actual improvements to the code – how often do they push updates to their Github, what kind of updates ( being able to read basic code is very important in this sphere) are being pushed, how often are they pushing updates to their repository compared to last year, are they stealing code from another project or they have some kind of partnership with other crypto projects etc.
- Partnerships – Are they planning on real-word use cases, how many partnerships they already have, what kind of partnerships, what are the plans for mass adoption etc.
These are the 5 things every investor should look for especially in the bear market. In a bull market its easy to make money, but the bear market is where you can see which projects are worth your time and money.