From $1 to $10: How to Identify Coins for Explosive Investment Growth⁉️⁉️
How can a beginner know which coins will rise and go up in price?
This is one of the most asked questions by newbie investors as they spend time reading articles to look at price predictions of different crypto assets.
The crypto space is unpredictable which means it’s not easy to predict what the price of an asset will be.
👉There are different stories about how people grew their crypto portfolio by selecting and investing in coins that were under $200 million in market cap.
👉The popular strategies used to pick are usually very technical: concepts like project tokenomics, Market use case, Marketing and Social hype are some of important basics of doing research on coins.
However, this requires a lot of understanding about technical concepts used to explain the project.
This poses a problem as to how beginners will know if a coin will do well
The answer to this question is to check the market cap, does the community holding the coin still think it’s a good coin to buy or are they looking for an opportunity to sell their coins
If you are trading with a much larger capital, it’s smart to invest in one of the top two cryptocurrencies by market cap, choose to buy and hold bitcoin and eth.
When you notice that there is a lot of hype around a certain crypto project, it’s a great option to look for coins that are in the same industry but lower in market cap to buy.
Another thing is as a beginner it’s not the best option to start diversifying your crypto portfolio if you don’t know what things to look out for.
A better option is to stick to the coins that have been in the space for a longer time and as your investments start to grow, then you can diversify with part of profits based on potential risk tolerance.
