Cryptocurrency and blockchain projects are achieving unbelievable valuations in droves. The total capitalization of Bitcoin and other top 5 cryptocurrencies has reached over $500 billion. It may be speculative to a certain extent, it has actually made many people extremely rich. And there is no sign of slowing down of the current trend. Others who aims to achieve the same amount of profit are looking for the next big crypto in the market. Bitcoin is still a worthwhile investment but there are hundreds of other currencies in the market called “Altcoins” who are actually gaining faster than Bitcoin. More often than not when a new coin is introduced with its initial offers the investors a chance to multiply their money by a factor of ten or more. But it is hard to predict which coin would attract more attention to the others. So, when looking to invest in the next big cryptocurrency be sure to look into the following factors –
If you want to invest in cryptocurrency then the best thing to do is looking for the new coins which are priced below a dollar. This is really good for the investors who do not have that much of money to invest. If you are really interested in investing then do not take the risk of investing in only one currency minimize your risk by putting your money on multiple currencies. There are chances that because your buying price is so low you could see the value of the currency increases manyfold.
During your research you need to find out which coins will likely to be adopted most. You should choose those which have the best chances of being adopted as a currency. This will help you to estimate its intrinsic value when it will get adopted as a mainstream currency.
The new cryptocurrencies driving factors are the amount of buzz it is creating. The best way to find out is to visit the Bitcoin Reddit groups or one of the many other social media groups of cryptocurrency. Just see which of the coins have the most number of followers and people are talking about most. This should guide you to look for these coins for further research.
Price and Volume Charts
Before you buy any coins do not forget to check the price and volume charts. The one you should be looking for should show accelerating growth for price and volume.