With cryptocurrency investments reaching an all time high, many of you are willing to jump on board while aiming to get some quick bucks. Nothing wrong with that so let’s see five steps that can help you spot a crypto whale.
5) The team behind it/Research
A cryptocoin doesn’t mean anything unless a strong team stands besides it to further develop the concept. There are literally hundreds of coins in circulations right now with different purposes but only a hundred or so of them have any real use.
A cryptocoin needs a purpose, a strong platform to grow, a wallet, good connects, and to be part of the top exchange websites. Even more coins will be created in the next 12 months but most of them will not stand due to the lack of development so make your research, find out who’s part of the team behind the coin and invest in it only if you believe they’re capable of delivering.
4) Increase in price during quiet times
A good coin will face increase periods even when other coins are facing decrease periods. With a market that fluctuates each and every single day, a good coin will stand still and grow even when other holders are taking loses with their favorite crypto projects.
This can be found in the patterns of all the top coins that are currently leading the market and this will not change in the near future.
3) Low starting price
There’s only one way to make good money while risking a few hundred dollars: the coin needs to have a low starting price. To be more specific, this is where the real money stands.
Look for coins that are in the initial phase of their development with a starting price that allows you to buy a few million of them for a few hundred dollars. This way if the coin reaches the $.10 USD peak or even better, the $1 USD peak you’ll be a rich man.
2) More buying orders than selling
The hype is real. Usually a rumor starts the hysteria around a cryptocoin and people start going wild looking for a price to buy. If there’s a steady number of orders for a coin (more than selling requests) that means you’re on to something.
1) Big orders
Watch out for the big sharks. For most coins you can track down the transaction history so if you see someone buying a few million coins that’s usually a good sign. Also, if more coins are being sold that automatically means less coins in circulation so that means a better price for the holders.