Topic: How do you determine potentiality of any Altcoins? (Read 12293 times)
The product or services they are render is very paramount in determining the prospect of a coin. The teams commitment, their adherence to marketing mix (4Ps), Promotion, product, packaging and price. These are my criteria in investing in a coin. Any coin that has pass mark on these, is good to go.
My answer is a community behind some coin. Take a look at this forum, for example, it`s made for bitcoin supporters and here you can see how strong bitcoin community is. You can judge any project by the strength of the community, only with that project can make a progress, without it doesn`t have perspective. A community can be big or small, don`t judge it by the size, get into it, talk with people, devs, and you will see how strong they are, and how they handle with problems. If they are good then stay with them no matter what!
I determine it in following way. I put fibonachi on a chart, but I have another interpretation of this tool. Thanks to this tool I can fin future point of reversal. For example 9370-9300 is my zone to open long position to get 2000 points. And now I have short position on btc
This strategy is used even in gambling but as practice shows, you cannot count on it only. I think compiling all the information about the cryptocurrency, applying filters to it, is the better variant. The probability to make a mistake in your choice is lower in this case.
I also try to follow the market changes and check for the news referring to the crypto world.
I usually look at how devs handle the community and fudders. Of course, this is not mean to determine good or bad project but to see how potentiality of that Altcoins.
A solid altcoin has a chill dev team.
A solid altcoin has a chill dev team.
For me, the most important is the product. I do not really care about the price or a whitepaper, even community is not bothering me. But the product should be functional, bring value and be competitive with centralised analogs.
As I thought, to determine what to pay for that coin to do for the project, does the project solve any problems in the future, whether the supply is large or not, pay attention to the team Is the project a professional or not?
Personally, I think the best way to determine the personality of any altcoin is how useful the coin is and the team supporting the project to ensure the progress of the project.
Firstly I look out for the team and see how active and interactive they have been and also I consider their working products and the demand for that product is once out of the many factors I consider
Coins that have potential are coins that are useful for the future. The price of coins and their growth when entering the market does not guarantee that the coins will last long. Not only that, but good coins must also be supported by a great team that always develops the progress of the project.
To determine the potentiality of a coin, I consider the price as well as the use of the coin. Imagine if the coin is used on an exchange or a very important commodity, it will be useful in future even if it won't be now.
To determine a potential coin, I prefer to look at the development not in price. For example, I am holding ICNQ coin from the last year! The current value of this coin is ridiculous as it's price was 2 EURO in the ICO! But I believed and stuck in this project because they never stopped developing!
The question first is what kind of crypto user are you? Are you a trader or a hodler? The reason this is important is because both have different ways in determining the potential of the token in which the will earn/gain something. For instance a trader will only need to check if the altcoin has great volatility as it will make or break their trade, then they will need to analyze graphs and market trands for signals. On the other hand a hodler would need to check the community of the project, its roadmap, news and reviews, market trends and so on.
As you can see there are different factors between the two which is why determining first what kind of user are you is much more important than determining the potential of an altcoin.
As you can see there are different factors between the two which is why determining first what kind of user are you is much more important than determining the potential of an altcoin.
Not always the prospects and success of the project determines the price of the coin. For example, bitcoin has nothing but a big name. People invest in it because it has the largest capitalization and has a high popularity. In other projects, the marketing part is important, for example, as in Binance. If the developers are constantly improving the project it will be the right investment. And it does not matter the price of the coin on the exchange at first.
I determine it in following way. I put fibonachi on a chart, but I have another interpretation of this tool. Thanks to this tool I can fin future point of reversal. For example 9370-9300 is my zone to open long position to get 2000 points. And now I have short position on btc
First, I look at the white paper but sometimes that is not enough because some white papers are really not worth it, the most important thing to research on is the TEAM behind the project, if that us OK, then you are good to go.
Everyone determines the potential of the project, but personally I look first at the developers, the idea of the project, what the project has achieved in time and what they plan to do further
Need to analyze well before investing. Btw, I have seen a project about gaming. It's SonicX. I recommend you to check their website.
One of the most effective ways to determine altcoin potential is from the project behind the altcoin, so it is very important to find out and do more research about the credibility of the Altcoin project.
First of all, I am always looking at exchanges where this coin is listed at and the trading volume. Secondly, I am reading the whitepaper and look at the product development level. The last but not least I need to be sure that the team members are following their roadmap.
There are so many factors to determine the potentiality of altcoins, one of such would be the use case of the coin, knowing what solution it brings, also check the total and circulating supply, the team backing out the project, the project road map from their white paper, the activeness of their social platform, with these you can tell if there will be potential to get from the coin.
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