Bitcoin, Ehereum, Ripple, Litecoin and a few other high visible cryptocurrencies have made early investors very rich, very quickly. If you were lucky enough to buy Bitcoin early on, the chances are that you are retired now. No other investment in the world performed like BTC over the las few years and those that saw the revolution coming are now multi-millionaires. However, this doesn't mean that investors will not look into the next lucky coin while the crypto craze lasts.
Below are the tips for finding the best new cryptocurrencies of 2018:
PRICE
Look for cryptocurrencies trading at less than a dollar. There are couple of reasons why to look the cheaper prices. One of them is that a price below a dollar creates the illusion that the cryptocurrency is "cheap", especially for investors with little funds to invest. Another, is that smaller numbers can more easily double and triple than larger numbers can. If you do use this tactic it is important to spready your risk by investing in a number of cryptos and not just one.
CRYPTOCURRENCY ADAPTATION
One thing you should do is to check cryptocurrency websites to asses which coins are most promising. You want to choose ones that have the best chance of being adopted as a currency. By doing this, you can estimate the "intrinsic" value of each coin, once it reaches a certain level of adoption or a set level.
FOLLOW COMMUNITIES
Check Reddit groups or any other social media groups and follow such communities that consist of "innovators" and "early adopters". See which ones everyone is talking about and use it to help guide you to the ones you should investigate before buying.
HIGH CIRCULATED SUPPLY
Look for cryptocurrencies with a high circulated supply versus the maximum supply. The reason is obvious: These cryptocurrencies are more likely to rise in price with rising demand, as there's little supply left to match it.
PRICE CHARTS
It is also important to check volume and price charts. You want to consider cryptocurrencies with a char of accelerating price and volume growth, as this kind og chat is a confirmation of momentum for these currencies.
Following these tips should be taken with extreme caution. If you will invest be cautious as it is a risky game and it's hard to predict when the hype will fade and coins will become near-worthless.
