Which Altcoin Should You Invest In 2018?
You wanted to invest in Bitcoin just a couple of months ago when it was $5,000, then you thought the price was too high. So, you did not invest. You would wait, you told yourself. Then the price got to $10,000, you still didn’t invest. The price will drop, you told yourself. The price of Bitcoin is almost hitting $17,000, and it’s not showing any sign of slowing down. You decided that it’s too late to invest in Bitcoin. You would pick an altcoin whose value could rise as much as Bitcoin has.
Here is the conundrum, which altcoin do you invest in 2018? A lot of altcoins have been doing well lately. Some analysts have attributed this boost to Bitcoin’s rise in price, even though there are other factors involved.
Investing in Litecoin
According to Oliver Isaacs, an entrepreneur cryptocurrency investor, there is no telling which altcoin could end up being more valuable than Bitcoin. Litecoin has been enjoying a lot of attention lately despite still being in its early stages. It experienced a recent surge in price, which was caused by heavy trading volumes on GDAX, one of the most popular exchanges. Another reason for this surge is the increase in the number of new users on Coinbase.
As interest in cryptocurrency increases, mainstream investors would want to diversify their portfolio from Bitcoins into altcoins and Litecoin is likely to be a top choice. It has the added advantage of having a faster transaction than Bitcoin. That means buying and selling will occur faster.
Don’t forget about the unprecedented growth Litecoin has enjoyed in 2017. At the beginning of this year, Litecoin’s price was at about $4.50, hitting an all-time high of $320. In fact, in just a couple of days, it went up by 333 percent. However, Litecoin is not the only altcoin whose value is exploding.
At the beginning of the year, Ethereum was a little above $8, now it sells for $706. That’s an increase in value by 8,300 percent. Perhaps one of the contributing factor to the boost in value enjoyed by Ethereum and Litecoin has to do with the fact that they can be bought using Coinbase, an app that is currently the most popular on Apple App Store.
Don’t Forget Ripple Too
This is another altcoin that has been shooting up at an amazing rate. Just this week, Ripple shot up by 50 percent to become the fourth largest cryptocurrency. The interest of investors in Litecoin Ethereum and Ripple is evident in the financial giant, Bloomberg announcing their prices (including Bitcoin’s).
So, Which Altcoin Should You Invest In in 2018?
The answer to this question is pretty straightforward. Invest in whichever altcoins people are mining. This shows a general interest in the altcoin. The fact that techies are willing to spend money on hardware to mine a coin is a vote of confidence
Here are other tips to help you decide;
- Make sure businesses are accepting the coin
- Look for future growth potential in the coin
- Make sure the team behind the coin have a good track record
- Make sure there are no loopholes for manipulation of the currency
There are a lot of altcoins out there, ranging from the porn based “Wankcoin” to the dentist’s “Dentacoin”. Deciding which to invest your money in 2018 is a matter of understanding which has a strong infrastructure, future application in everyday lives, and solid growth. Bitcoin is still the king right now, but the tide is shifting. Winter is coming.