Of course, an increase of price of any coin will not determine it's full potential and there is a big risk that it is a trap. Usually the organization that can do this kind of tricks are those who have huge amount of money in order to manipulate the prices without being notice.
If you are a wise investor and a professional trader. There is a big chance that you not will fall to this kind of trick but it is different if we are talking about new comers or newbies that want to explore the crypto currencies. So it's better that we need to be careful in everything that we are going to do so we will not lost our hard earned money that easily.
Topic: How do you determine potentiality of any Altcoins? - page 10. (Read 12293 times)
There are many factors to consider in determining the potentiality of any altcoin and most of them had been mentioned already but I like to emphasize more on the people factor, i mean the developers or team with their dedication, experience and capability and the community or supporters with their commitment and unwavering support behind the project. If these two factors have some issue(s), then I think it will affect the future prospect of the coin becoming a hit in the future.
I have 50 more altcoins that do not have a selling price and there is no market for that, it is very difficult for me to find the right method for selecting quality new altcoin. I tried various methods for altcoin selection but it still ended badly.
I agree that price couldn't be the indicator that the coin is doing fine, we need to see where does the high price coming from, if it's from whales then its a pumping but if the price got high and stabilise then maybe a lot of people see that coin is a potential coin, but to know which coin got potential its better to see the growth and the roadmap, see how the developers plan for the coin and how well the users react to it
Dirst of all a working product with several use cases would be cool, teams commitment and theit motive to expand and extend services or products to new consumers through various means, partneships with other companies. To me a good should have all these.
First I looked at the coin and what it's place is on the market in terms of capitalization , and would have looked a road map for the coin , but I think those coins are now in the top promising!
For me these are function and project team. Potential coins should have a wide functionality to perform in this wide world. Also, great team project is to ensure that the project is not out of way and really deliver what has been planned.
Before investing, I made a look about team members, Projects background, whitepaper etc.If I am satisfied with these, I'll invest some amount to see how good this is.I think we all invest and hope the price rise soon.If the coin gets dump day by day I don't think anybody will still use that coin.
I don't think price growing show potential of any altcoin. Of course it's really good to see price of any altcoins out there growing day by day but maybe it's just a fake pump made by the whale to catch smaller fishes. I think potential of altcoin depend on the project behind. There are so many altcoin created with good purpose but only few altcoin can do what they said in their idea and roadmap, we should take a look at their product to see if it's a altcoin with good potential or not. Beside I think partner of project behind every altcoin is also an important part to show potential of an altcoin and number of exchange this altcoin listed as well.
Price not reflecting the project is worth to hold for long term. I think to determine the potential project is the company behind the project. Like Binance Coin, the token backup by good and reputable exchanger and i think this coin is worth to hold for long term
I don't think price growing show potential of any altcoin. Of course it's really good to see price of any altcoins out there growing day by day but maybe it's just a fake pump made by the whale to catch smaller fishes. I think potential of altcoin depend on the project behind. There are so many altcoin created with good purpose but only few altcoin can do what they said in their idea and roadmap, we should take a look at their product to see if it's a altcoin with good potential or not. Beside I think partner of project behind every altcoin is also an important part to show potential of an altcoin and number of exchange this altcoin listed as well.
Actually i don't think anyone can determine that perfectly, there a lot of unforeseen uncertainties that could make a project that looks like a potential one to turn to a disappointing one, also market plays a very important role in this aspect, generally, i think project that has a working product and active team could be regarded as potential although that is not only the yardstick to determine this, but it gives you a bit of idea.
Potential projects are no longer based on the technological foundation developed by the project and the potential of the project depends on support from celebrities or assistance from large exchanges. We can see that exchanges with very high success rates support IEO projects and most of them are profitable for investors joining the IEO.
We know lot of Altcoin on the markets with different prices. How you determine which is most potential coin? What method are you using? Few people's are thinking those coin price growing well its potential coin. Do you think same?
Hell, capital NO!Price rise doesn't really connote potentiality of a coin. We have seen in the recent past where certain coins came crashing within 48hrs and were outremember. Does anyone still remembers Bitconnect coin, Firstcoin or even Regalcoin, just to mention but a few? For me, what makes a potential for coins is the Use-Case value. This is the factor for me. For instance, look at what BNB is doing. It has become the absolute coin for buying in any IEOs Binance does. BNB price will continue to soar because of this.
I have same opinion with you. potentiality of any altcoins is by real use for the human.
Like for buying goods or services. And then the price will high.
several platforms already exist and try to be developed in the world. but the market response is not so good for such a platform. precisely with platforms such as banking, real estate and exchange, becoming more popular. Like for buying goods or services. And then the price will high.
Firstly, you need to check the project and it's members who should be actively involved in the project and then how soon they are working on getting things implemented. It takes months for a token/altcoin to gain market value and then more time for it to settle down in the market and earn profit. I've noticed that whenever a project introduces a card or makes a big partnership announcement, the price rises tremendously like it happened with Monaco and Docademic so I look out for similar projects and even gambling projects as their tokens are always highly valued.
Community — without community coin/token has nothing backing up and thus it can't increase in value.
We know lot of Altcoin on the markets with different prices. How you determine which is most potential coin? What method are you using? Few people's are thinking those coin price growing well its potential coin. Do you think same?
I don't think that price growth could determine potentiality of coin. For me, I determine potential coin by uses. Its true few coins growth is good enough even there is no uses. But it's only temporary or by manipulated. But if you choose potential coin which have uses and team are too active to develop their platform then it might give you good returns on future.
So before invest on any existing coins you should determine which is potential coin and how it is. Don't just compare growth of price for alts.
What's your thoughts about it? Let's share knowledge and correct me if I am wrong.
I don't think that price growth could determine potentiality of coin. For me, I determine potential coin by uses. Its true few coins growth is good enough even there is no uses. But it's only temporary or by manipulated. But if you choose potential coin which have uses and team are too active to develop their platform then it might give you good returns on future.
So before invest on any existing coins you should determine which is potential coin and how it is. Don't just compare growth of price for alts.
What's your thoughts about it? Let's share knowledge and correct me if I am wrong.
Some of the traders here in this field of business, their basis was the price of the altcoins which is wrong.
There are lot of them deceived by this concepts. Having a high price value in the market it doesn't mean its potentials
of course not. So I would agreed that it is base on the usages of the utility token just like Ethereum(ERC20) platform this
was proven and tested in the market.
Coolcryptovator, you have been around long enough to know that most altcoins are destined for a bad end. There are only a small number of them which have a backing of people using them for something or trading them with a high enough frequency to provide market liquidity.
If you are thinking about brand new altcoins, I would suggest avoiding them without exception and if you must invest in anything other than bitcoin, go for coins that trade with the highest volume on exchanges. You will at least know that you can sell the coin if it comes to that. You don't want a sell order sitting on an exchange for weeks waiting for buy orders. Could happen.
Right now I have got my eye on some of the more well known alts still trading at much lower prices than they were at the end of 2017, ones that haven't risen too rapidly during this little bump the market has experienced this month. I'm not going to name them, because I am a greedy and paranoid investor by nature, but those coins are the ones which will be the most profitable if purchased right now, and I've been doing that too.
If you are thinking about brand new altcoins, I would suggest avoiding them without exception and if you must invest in anything other than bitcoin, go for coins that trade with the highest volume on exchanges. You will at least know that you can sell the coin if it comes to that. You don't want a sell order sitting on an exchange for weeks waiting for buy orders. Could happen.
Right now I have got my eye on some of the more well known alts still trading at much lower prices than they were at the end of 2017, ones that haven't risen too rapidly during this little bump the market has experienced this month. I'm not going to name them, because I am a greedy and paranoid investor by nature, but those coins are the ones which will be the most profitable if purchased right now, and I've been doing that too.
I think there are a few factors involved:
1) Practical use cases
2) Innovation
3) A solid team (that isn't composed of stock photos but real people in the space)
4) Community engagment
5) Maintenance and upgrades to the chain
1) Practical use cases
2) Innovation
3) A solid team (that isn't composed of stock photos but real people in the space)
4) Community engagment
5) Maintenance and upgrades to the chain
It is ideal when the product development determines the price but usually it not the case. We have to look the bigger picture and not only the price increase. It could be rewarding if we see the future value of a product and invest in it on time.
This is not a question with an easy answer. To answer this question you have to take into consideration aspects like price variations, the development of the project, markets, wallets, reviews, gain expectations, and a small analysis of the competition. And never you rule out uncertainties, Best of wishes.
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