The problem with people nowadays who want to invest is that they are looking for quantity and not quality and this would always cloud their judgment.
They believe if they can just put certain amount of money into some altcoins with some very low value, they can just easily turn out to be rich in a short time, just like bitcoin has made some people rich over the years, but that is always a bad mentality to investment. He does not have to buy 1 bitcoin and he could just buy some little, and then put in some few altcoins alongside as the case may be.
Topic: Why comparing cryptocurrency prices is wrong? - page 2. (Read 280 times)
One should compare not just the crypto currency price but also the supply. Currencies with high supply can not reach high prices.
I understand what you mean but most of the traders expert always ask us to find a coin that cheap but got potential, when we calculate profit, we are calculating about the percentage, not the rising value, and usually an expensive coin rising percentage is not too big compare to the cheap coin, and there is chance that people will buy bulk of cheap coins, and that could rise the price quickly
i think that depends not only on marketcap, but in fundamental and techincal analize, because that two factor make the price rise/down.
specially for fundamental they make big impact for influence coin price.
specially for fundamental they make big impact for influence coin price.
Because every electronic currency goes up from a very low price below $ 1$ is normal
Definitely not. Not all(and even probably majority) of all the coins/tokens aren't guaranteed to go up beyond $1, especially knowing there are tons of coins/tokens out there that has a HUGE circulating supply. Always take circulating supply into account.
I think at 500$, I should invest in altcoin with great potential top 1 on coinmarketcap. Because every electronic currency goes up from a very low price below $ 1$ is normal
If your friend has 500$ then yes, he is rigjt, he can't buy bitcoin because it costs more than 6000 usd. Lol, I know what you mean. People usually hope that coins with low price has potential to rise. Wasn't bitcoin under 1 dollar at first?
What's marketcap? It's Price X Number of circulating supply, it's one of the metrics.
What's marketcap? It's Price X Number of circulating supply, it's one of the metrics.
In many of my discussions with friend I keep hearing "I only 500USD, I can't buy bitcoin" and "Suggest me an altcoin below 1 USD". I have been explaining time and again why this line of thinking is wrong. So I thought of writing a post so that I can share it next time somebody asks that question. You can read it here https://blog.goodaudience.com/why-comparing-cryptocurrency-prices-is-wrong-2054a9075878
The gist of the post is that you shouldn't compare prices and you should compare market caps. But since Marketcaps are difficult numbers to compare I suggested using Circulation normalised prices. I built a tool which gives me normalised prices of top 100 coins for quick reference. https://dashboards.bitfolio.org/#/normalised-price
https://cdn-images-1.medium.com/max/1000/1*mYAEhO1hB6PnADB5C1hh7Q.png
Would like to know your thoughts.
The gist of the post is that you shouldn't compare prices and you should compare market caps. But since Marketcaps are difficult numbers to compare I suggested using Circulation normalised prices. I built a tool which gives me normalised prices of top 100 coins for quick reference. https://dashboards.bitfolio.org/#/normalised-price
https://cdn-images-1.medium.com/max/1000/1*mYAEhO1hB6PnADB5C1hh7Q.png
Would like to know your thoughts.
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