3 steps to Picking High Potential Coins for 2018
I can't even recommend a coin to friends lately. By the time I look into one, it doubles or triples when it starts to take off, and I never like to recommend a coin that is up 100%, but instead prefer cost averaging, buying a given amount each day. Or putting in a 24 hour lowball bid each day.
Here's my guess for 2018. The AVERAGE coin goes up 3x.
The reasoning: total coin market value is $0.65 Trillion. That's not that much for a global economy. I think that number could go to $2 trillion easily, given that Bitcoin is becoming a household word... Proof of concept has been established = Money floods in.
If that simple assumption holds, the average coin goes up 3.1x or more. Some coins will go up 1000x, others will go bankrupt.
Here's short guide to picking coins.
- I avoid coins with stupid names. There are a lot of con artists who start coins simply to get rich. Simple names do not mean stupid, but "SantaCoin" and "SatanCoin" were probably started by some 14 year olds, and if they have any success, those kids will be rich and probably go on a bender until they die. The coin dies with the dev team.
On the flipside, some might argue that OMG is a dumb name. It is sort of a pun, as OmiseGo is a reasonably complicated currency, and the "OMG" part seems like a nerd pun. That's good.
Look at a coin that has something "original" about it. These founders are seeking immortality, not just money. Take"Library Credits" - I don't even understand them but it's a really neat concept. Steem and SBD too. As well as SmartCash all bring something unique and about the community. They are culture changing! It's more than just money to the founders.
Look for coins used on the darkweb (XMR, XVG, BTC) Because the black market is as old as law. The current rise of nationalism also supports this (money launderers won't trust governments, governments don't trust other governments).
So, while there are no doubt some scam coins, the value of alts will go up, and people are going to keep using them.
Moreover, Alt-coins are tantamount to the success of bitcoin. Currency exchange helps anonymize transactions. As we see lower and lower cost services, this will strengthen the coins and increase the privacy!
There is probably much more dark money in the world than is estimated, so $2 trillion is a very low end estimate, in my opinion.
I guess we will check back in 2019