I want to share a pretty easy idea of how we can find profitable coins before the hype. How to find them by numbers and by also using your own customized risk assessment.
Have you seen Moneyball? Great film. Kinda like that. Except in today’s world, we don’t need to spend time creating algorithms for what’s already been done. See #1.
Use a reliable stats/ranking site and compare it to the market cap. I like using coingecko.com for ranking updates and coinmarketcap.com for market cap updates.
Find a coin in the top 50 ranking, but also under the top 100 in market cap
Example: Steem Dollars ranked 37 on coingecko and #339 in market cap @ $37 million. (Or adjust how you see fit)Customize your finds/ customize your risk
Ideas for #3
-Eliminate new coins
-Eliminate coins that change vision a lot
-Add coins w/ a solid resume of development team members. Example: MIT/Harvard background.
-Add coins at around a $100 -$200 million market cap
For me, at the present moment this leaves Vertcoin.
- Have patience and hodl. Always a lesson.
Example: Sia Coin. Just 80 days ago, it only cost $3600 to own 1 million of them. And yet it ranked consistently in the top 50 on coingecko.com. It was also hovering around a $200 -$300 million dollar market cap zone. It hit 11 cents recently bringing it above $1 billion. So if you spent around $15,000 just 80 days ago, you’d have hit around $400,000.
Disclosure: Do your own research. I’m not a financial advisor. Invest at your own risk and research. I hold BTC, LTC, VTC, SIA, NEO, XRP and DGB.
Source: my reddit account written 74 days ago from this post, I wanted to share again as I suspect we’re entering a new bull run with new investors.