Posted November 19, 2021
By Ray Blanco
Step Into the World of Altcoins
At this point, you’re most likely familiar with two of the most popular cryptocurrencies: bitcoin and ethereum.
But, the world of cryptocurrency runs much deeper than those two coins.
For starters, did you know there are over 14,000 other cryptocurrencies?
That’s more than triple the number of US exchange-listed stocks!
They’re referred to as altcoins, and just about anyone can mint their own. Now, not every new coin minted will go on some crazy rally, and to be honest, most of them won’t…
But that’s not to say that there aren’t some very interesting altcoins out there…
There are quite a few coins that have done very well lately, and neither of them is bitcoin or ethereum.
Right now, there is a massive surge in new crypto coins as a result of the huge bull market for the space.
Combine that with the recent rally in bitcoin, and the sector has launched to a near-$3 trillion market valuation.
Even if bitcoin is taking a break right now, there are plenty of altcoins that are soaring.
The surge in smaller cryptos includes coins such as Solana, Cardano, and Shiba Inu.
These smaller coins have less liquidity and more volatility, so they’ve delivered massive gains (and losses) to investors in a short timeframe.
One coin, Shiba Inu, is down about 40% from its recent high. However, this is despite being up millions of percentage points year-to-date…
Yes, you read that right. Millions of percentage points…
It’s almost hard to comprehend such numbers, even in such an overwhelmingly volatile market.
And if you ask me, I think things are only going to get crazier from here.
Now that bitcoin is a household name, the crypto-world is under the biggest spotlight that it’s ever been.
Couple that in with the NFT craze and the rapidly approaching metaverse and you have a perfect storm brewing for a continuing crypto craze.
I have to say, if you are looking to get into crypto trading, I think it’s important to remind yourself that you can see devastating losses as quickly as you can see huge wins.
So, like you would with stocks, never put up more money than you’re willing to lose. And always have an exit plan… You don’t want to bet the house on a speculative altcoin…
Stay safe out there, and keep an eye on Technology Profits Daily, as I will be covering cryptocurrency extensively as this craze keeps rolling.
To a bright future,
Chief Technology Expert, Technology Profits Daily