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How to identify a new promising cryptocurrency

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If you were lucky enough to buy Bitcoins at the very beginning of their history, most likely, now you are leading a comfortable life. No investment in the world has brought as much revenue as Bitcoin has brought over the last few years, and people who believe in the approach of crypto-revolution have become multimillionaires. This incredible success has led to the fact that recently many investors are trying to find the next cryptocurrency, with which in just a few years (or months) they will be able to increase their income by thousands of percent. Many managed to do this at the beginning of the ICO boom, when many tokens unexpectedly grew in price tens of times. However, unlike Bitcoin, most of them just as quickly and unexpectedly collapsed. So what do you need to consider in order finding the next Bitcoin?

The discovery of the next breakthrough crypto currency can take quite a long time, as hundreds of new coins appear on the market every month. Not all of them will be successful, so it's very important not to go all-in, otherwise you can lose everything. With a cryptocurrency, a large number of risks are still connected, one of which is regulation, which promises to become a very hot topic in 2018, and investment in any of the cryptocurrencies may completely depreciate.

Below are the basic tips that will help you determine the best novelties among the cryptocurrency 2018:

No. 1: Low price

If you want to make good money on buying cryptocurrency, it's best to pay attention to new coins worth less than a dollar, since cheap coins are more likely to grow. This is a good tactic for investors who do not want (or do not have) opportunities for large investments. Having chosen this tactic, it is very important to distribute risks by investing in several cryptocurrencies rather than one. Since you buy coins cheaply, there is a possibility that some of them will grow several times over a short period, while others, on the contrary, will fall. Examples of rapid multiple growth in the cryptocurrency space is more than enough.

№ 2: Possibilities of use

Investigating the market, it is necessary to determine which coins will be most in demand. You need to choose those who have more chances to be used as money or perform other useful functions. Moreover, the best chances are for cryptocurrencies, which can provide users with something new. If the coin does not carry any unique features - it will be difficult for it to break through many similar forks.

№3: How many people talk about it

One of the main driving factors of the new cryptocurrency is the amount of noise created around it. The best place to test this feature is the forums, Reddit and various cryptocurrency sites. Observe which of the currencies is spoken more, and use this information in your study. In addition, do not believe every word. Even widely advertised projects may not be what they seem, and in the long run, they probably will collapse.

№ 4: Creators

Another factor that should be addressed is who created this cryptocurrency. If the development team is public and it has people known in the cryptocurrency community - the chances of such a project are significantly increased. If the developers have not previously participated in cryptocurrency projects or even are anonymous, and even more so, if the source codes of the new cryptocurrency are not available - it should be taken cautiously.

№5: Dynamics of stock charts

Undoubtedly, one of the main sources of information is the price and volume charts. It is necessary to pay attention to the graphs with stable growth of these indicators. If the cryptocurrency periodically shows the tops with a subsequent drop, it is likely that the manipulators have been engaged in it, and there is no real demand growth.

Conclusion

Investing in the cryptocurrency or ICO, remember that this is a high-risk investment. If you make the right choice, you can provide yourself and your family for life. However, you can just as easily lose almost all the investments if you make a mistake in choosing. It is extremely difficult to predict the cryptocurrency market due to a large number of rapidly developing projects and various incidents, which is why risk allocation is the best investment strategy.

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