There are many factors when it comes to finding the right coin to invest in. The very first thing you should do is read it’s trend. Check it’s history, find the last time it reached its peak, is it on a downward or upward trend, find it’s lowest price. Once you figure these main points out, it now becomes a lot easier to decide “is this the one I invest into?”
If the chart shows it has already hit a high price, but dropped down to it’s lowest and has been stagnant for a while, most likely it’s value will rise and most likely it shouldn’t go any lower if it’s near it’s lowest point it’s reached in its history. So this would be a no to little risk investment and I believe you should take your chance while you can. There’s been many times I bought multiple coins for very cheap because I read the chart correctly, but because I’m new and still learning I sold because of impatients. Now ReddCoin is 600% higher just 3 days after I sold it to get into another coin. So if you read it correctly, most likely your prediction will be correct if the coin has a lot of volume.
If you see a coin value going on a consistent rise for a few weeks, it may be a good idea to get in but be careful to get out if it hasn’t established itself well enough against the other top coins.
If the value of a coin has shot up 100+% within the past day, id recommend staying back, because you may be to late. Best bet would to continue to watch it for the next 1-3 days and follows its trend. If it continues to rise and drop by 5-10% every hour throughout the day, then that is a PERFECT OPPORTUNITY to day trade and could double your money easily if done correctly. That’s why I say read and study the chart for a few days so you’re comfortable in your prediction for the future. Like I said, most of the time your gut feeling is correct. Or your “intuition” as you may call it. So be patient and hold it. If the price stays the same for a couple days then GOOD! Because that’s a sign an increase coming soon! If you’re that impatient, keep that coin to the side and buy some others if you’d like. But I hope you’ve been researching a few at a time to increase your knowledge more quickly.
IF YOU HAVE ANY QUESTIONS OR TIPS PLEASE LEAVE A COMMENT! I’d love to hear your ideas and tips! I’m trying to learn my best just like the rest! Happy trading 😁💰
-ALEX
I found this very informative, thank you. Bitcoin has been falling in price the past couple of days, do you know why this could be happening? I've only recently started learning about this new digital currency and I find it very intriguing.
I’m glad I could help as many as I can! And I’m really not too sure why Bitcoin is dropping, but I see it as an opportunity to invest some more while you can, because if the rumor of Amazon accepting Bitcoin as a source of payment sometime 2018, it’ll surpass its old peak of 20k with ease. I’m not too worried because now everyone is talking about Bitcoin or at least knows about it more than 5 months ago, it’s here to stay and I believe it’s potential is great for our future when it comes to technology and social networking.
Wow thank you for that paragraph! I see that you have trust in bitcoin which is awesome since having a crypto currency in which the government cannot get involved in is seriously epic