If you were lucky enough to buy Bitcoin early on, the chances are that you are retired now. No other investment in the world has performed like BTC over the last few years and those that saw the revolution coming are now multi-millionaires. This success has led to an influx of investors trying to find the next big cryptocurrency so that they can make thousands of percent returns in only a few years. In this article, I will give you the best tips to help you to find the next Bitcoin.
Finding the next big cryptocurrency can take up a lot of time as hundreds of new coins are coming to the market each month. Not all of these will be successful so it is vital that you do not go all in or you could end up losing everything. There are still many risks involved with cryptocurrencies such as regulation which over 2018 will be the hot topic and if the regulations go the wrong way for the currency that you have bought, it could be worthless.
Below are my top tips for finding the best new cryptocurrencies of 2018:
If you are looking to make big bucks by buying cryptocurrency one of the best ways to do this is by looking for new ones that are priced at below a dollar. This is a great tactic for investors that do not have great deals of money to invest. If you do use this tactic it is important to spread your risk by investing in a number of cryptos and not just one. Due to the fact that you are buying so cheaply, it is possible that a number of these may treble or more in the value over a short space of time. A prime example of this is the likes of RubleBit that increased 522% over 7 days along with Cyder which saw an increase of 7,412%.
#2 Currency Adaptation
When carrying out research you will need to ascertain which coins will be the most adopted. You want to choose ones that have the best chance of being adopted as a currency. By doing this you can make estimates of the intrinsic value once the coin reaches mainstream adoption or a set level.
#3: Buzz And Following
One of the biggest driving factors of new cryptocurrencies is the amount of buzz it creates. One of the best places to find out this is by visiting the Bitcoin Reddit group or one of the many other cryptocurrency social media groups. See which ones everyone is talking about and use it to help guide you to the ones you should investigate further before buying.
#4: Highly Circulated Supply
One factor you need to pay close attention to is the maximum supply level. You want to try instead to go for coins that are highly circulated supply as they have a better chance to go up in price if demand increases due to a limited supply.
#5: Price And Volume Charts
One of the best sources of information to check before buying a cryptocurrency is the price and volume charts. Look for ones with accelerating growth for both price and volume to find one that has momentum behind them.
If you are investing in cryptocurrency or ICOs is it a high-risk investment. If you get it right along with the right regulation falling into place, you could set your family up for life. It is extremely hard to make predictions because there are so many fast-moving parts which are why spreading risks is the best investment strategy.
What do you think of the author’s tips? What other advice would you include? Let us know in the comments below.
Images courtesy of Shutterstock
Powered by WPeMatico