New Cryptocurrency

Dinesh asked 3 years ago

Hello sir, I have read your articles and after this, I can definitely say that your Bitcoins knowledge is tremendous. My question is simple: There are other cryptocurrencies also available which have same features like bitcoins. What should we take into account to understand that this particular cryptocurrency would rise in future or this currency would not be a good option to invest?

1 Answers
Ofir Beigel answered 3 years ago

Hello Dinesh and thank you very much for the compliment.
The main things I look for when I take a look at a cryptocurrency is what is the actual use for it and does it have any adoption (meaning what is its market cap). Most coins don’t have a substantial market cap or a specific use case therefor I don’t really spend my time with altcoins.
Regarding the price – no one can really know what will happen with any cryptocurrency price. It’s very important to avoid investing in a specific currency just because you hear a lot of hype about it since there are many “pump and dump” schemes out there.
Perhaps this post will give you some more info about my investment strategy.

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