What are the factors to consider when identifying an altcoin with huge potential?

[Justin]

Check the coin market capitalization, check coin market rank, and the price. ADA is an altcoin with huge potential, it ranks #3 currently, Solana is another great coin, it ranks #7.

 

[nimzy]

Well.i can say the existence of that particular coin matter alot to me that is how long it has been in the market and what are the profitable comment make by people about it operation.

 

[Sotherefore]

Although there are a lot of ways you can use to identify a cryptocurrency with huge potential but one of the most important factors I do look on is the total supply and how strong is their online communities. Those two things determine for me.

 

[Senator]

Look into the past chats of this said altecoins and see how it performed in the past and see how it is performing currently before deciding on investing or not

 

[tyrim88]

One thing I look at before trying any altcoins is it's performance in the last month to three months.

This is to avoid those coins whose developers and investors subject to pump and dump, leaving you with worthless tokens.

And in additon to that,you will have to look at the persons involved in the crypto coin,and then the credibility of the individuals also matters.And their capitalisation in the market is another.And their performance as well as wale investors in the venture.

 

[Essy]

Concerning the factor to consider when identifying a altcoin with huge potential. Well, you can review it growth and volatility from some years or months back just to monitor if it is growing or not, you can also check it value and what is the say of the people the particular altcoin. You can also check their future plans with companies or projects backing them up

Growth rate and volatility would be a very important factor to check when considering any coin with potential, but one should also be aware of the technology behind it and the management a good coin with good management will always rise and grow exponentially like ripple despite its lawsuit

 

[Shigobad2020]

One element to keep in mind when scanning for the next superstar is the price of the token. For the average investor who doesn't have a great deal of money to put into the cryptocurrency space, low-priced currencies may offer the best bang for your buck.

The exact price of the altcoin at that moment will be the reason for you to know of its better to invest in the coin or not, even if there's any flunctuation, the price of the coin won't be affected much.

 

[kayode10]

You can look at some of the people who found these coins. Once you know about their projection and it's so good indication you are good to go to choose the cryptocurrency.

 

[GoldenLady]

And in additon to that,you will have to look at the persons involved in the crypto coin,and then the credibility of the individuals also matters.And their capitalisation in the market is another.And their performance as well as wale investors in the venture.

One thing I still don't get is how to identify whales and their transactions especially when it comes to coins with low market cap where a single whale can either pump or crash the price. Do you know of how to do this?

 

[Aaron625]

Coinmarketcap ranking is something that defines the potential in any altcoin. The use case of the altcoin and the reputation of the coin developer also comes into picture before judging any altcoin based on its potential.

 

[tyrim88]

One thing I still don't get is how to identify whales and their transactions especially when it comes to coins with low market cap where a single whale can either pump or crash the price. Do you know of how to do this?

well i don't really know how this works,but from some little observation in the market and crypto environment,a big whale who has a huge financial warchest expecially if he is an authority in his field,can just pick up a low value coin and invest it.this is enough publicity in itself.

 

[nimzy]

The only advise I can give some concerning the factors which are to be considered while choosing an alt coin is to first of all embark on research to be able to find out the value of the various available coin before choosing.

 

[Toyoabasi]

The main factor you should take in are the Adoption and the Technology behind it.

Anything that has not exactly 1,000,000 clients or in excess of 1,000,000 in income doesn't have the right to be in the Top 100 or have a market cap higher than $2B, so in case you're investigating purchasing a coin out of the Top 20 and it doesn't have in excess of 1,000,000 clients, at that point it's a horrendous speculation.

And furthermore do they have great tech that is among the absolute best? At that point, they are a wise speculation.

There are so many altcoins out there with huge tendency to rise.
With your speculation, you could adopt it and begin to invest.

The main factor you should take in are the Adoption and the Technology behind it.

Anything that has not exactly 1,000,000 clients or in excess of 1,000,000 in income doesn't have the right to be in the Top 100 or have a market cap higher than $2B, so in case you're investigating purchasing a coin out of the Top 20 and it doesn't have in excess of 1,000,000 clients, at that point it's a horrendous speculation.

And furthermore do they have great tech that is among the absolute best? At that point, they are a wise speculation.

 

[Senator]

The factors to be considered won't even need to be much to invest in any altecoin. You should look at the altecoin to see if it has the potential to solving any financial or economic issues that the creators created it for

 

[Ezekiel]

Well I will say that this information is very vital and will really me alot to know which coin I should purchase,well what will I use to know the coin tech

 

[Setho]

If you want to identify a coin that will make good movement in the future then you should look at the economics and the fundamentals. It should be a coin that does not have so much in circulation and it is also gaining hype.

 

[tyrim88]

The only advise I can give some concerning the factors which are to be considered while choosing an alt coin is to first of all embark on research to be able to find out the value of the various available coin before choosing.

It is very important to always do due deligence about the type of coin to buy and invest into.The volume in the market,the capitalsation as well as those who are behind the coin.

 

[kayode10]

Price movement is one of the factors you need to check out for when you want to invest in the cryptocurrency. You check the price history of the cryptocurrency you want to invest. This will help you to forecast into the future price of the cryptocurrency.

 

[Nomad]

If you can find a new coin or token that is not yet listed on any major exchange, but getting listed soon, you can invest in that coin or token because once it is listed, the price will shoot high.

 

[Skysaint]

Well, normally I would study the price movements of the coin. How popular the coin is will most likely affect the growth of the coin but this is what I consider for a coin I want to invest in for a short term. For long term investment I would check the usefulness of the coin in the crypto world