Cryptocurrency Investing: Research and Due Diligence are Key
It has never been easy to invest in the correct cryptocurrency because more research is required to understand the coin, its fundamentals, and its future prospects. That is why a majority of individuals did not make much money during the peak of the bull market.
I have a question for you regarding your investment. You may have invested in Alt-Coins when the price of #Bitcoin was around $30,000. You may have expected to make a lot of money.
But has your altcoin's price moved significantly? Are you satisfied with your investment? To be honest, the majority of investors will respond with "NO".
BTC witnessed a significant price increase to reach $74,000, while many altcoins rose more than 20X during this bull run. The vast majority of altcoins have remained unchanged since their all-time low.
It is important to remember that not all crypto coins will achieve all-time highs during every bull run. This is to select the proper coins with the potential to achieve all-time highs.
That is why it is always recommended to learn and research before investing in any cryptocurrency. In this piece, I will discuss some of the key aspects that will assist you in selecting the proper cryptocurrency.
First and foremost, the maximum and total supply of any currency must be checked, followed by the percentage of the coin purchased by the corporation itself, as well as the circulating supply.
What you need to keep in mind is that you should always choose coins whose supply is nearly equal to their whole supply and whose corporation owns a small fraction.
The maximum supply must be close to the total supply, and the project must be stable and robust. That coin's price will undoubtedly rise and reach an all-time high.
I hope you find this post interesting and I hope you will like it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.
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