In other words, what makes you decide to follow a project?

I would say to a larger degree now, but it may possibly change in the future with new project. But for now, I would say the rest of the market follows Bitcoin's trajectory

If you pick the right ones, then you can make a huge profit for sure. But if you pick the wrong ones, then you will lose faster than you can say altcoin

I would say EOS, XLM, NEO, LTC, and things of that caliber

It is easy to judge the whole industry in black and white dichotomy if you don't know much about it. Just like any other investment, it requires studying and patience. Last year, so many people got lucky with timing but it was extremely over-valued and now it is a healthy point to be at as a whole market.

It ain't over until it is! 

I would say it is important - to have at least beta version of a working product. Investors no longer invest in pure ideas. They want to see something concrete.