The year of 2017 is definitely the era of cryptocurrency trading, something which has been quite evident from the huge market cap of altcoins which showcases the exponential gain it has experienced in past few months. This crypto-phenomenon seems to have consummated people globally.
Yesterday at our family reunion I was amazed to hear our uncles having a discussion at altcoin trading. The elder ones talking about monetary matters was a usual affair, share trading being the usual topic, but trading in digital currencies was something unusual. Being a cryptocurrency enthusiast I felt curious and joined them. As soon as I sat amongst them I curiously raised a question.
What makes you interested in trading digital currencies?
“Bitcoin is going to change the world from a money transactional standpoint not just for Africa, but for everywhere.”
— Akon (Recording artist and producer)
According to them, trading in digital currencies is a hassle –free process as the registration process or setting up of a trading account involves a lesser amount of time as compared to any forex or stock trading account. Not only this one can trade with incredibly lower sums of money which is not the case with forex or share trading where one requires at least a few hundred dollars. The fact can a person can buy as low as 0.0000001 BTC makes it ridiculously cheap.
Next, I heard someone raising a question;
Is this the best time to trade in altcoins?
To which I replied:
Seeking the bitcoin scaling phenomenon the bitcoin market has shown volatility dipping to the levels of $ 2610 approx post hard fork event to currently being trading at an all time high of $ 3479 approx. All this is nothing less than some dramatic case of numerous lows and highs which no smart trader would like to indulge in. Even though trading is a risky affair, still no one feels keen to trade in an entity whose prices have been experiencing extreme dips and peaks. Certainly, this uncertainty makes the traders sceptical of bitcoin trading and look out for alternatives.
Also, the FOMO (fear of missing out) case which is credited with ethereum and bitcoin drives the traders towards altcoin trading.
What should be the strategy to trade Altcoins?
I am an altcoin flipper, a person who trades in various altcoins i.e buying and selling them for bitcoin rather than fiat currencies and have been lucky enough to generate fortunes for myself. And all this could never have been possible without a strategy which I discussed with them.
Altcoin trading is more time-sensitive as compared to stocks and forex. Hence, timing is the greatest factor in altcoin trading:
When the BTC prices dump, one must quickly buy altcoins and wait till their price gets pumped up. Once this happens, sell them for BTCs. Again when the bitcoins price gets pumped up, you can sell them for fiat currencies. Therefore one must know the,
· Time to get in
· Time to get out
Something which people forget so easily and lose money while trading.
Now they all wanted to know,
Which altcoin should one invest in?
As per Coinmarketcap there are 843 digital currencies being traded in this over 4979 crypto-markets with a market cap of over $1.2 billion. Amidst such numerous choices available, it’s really hard for a trader to decide which one to choose and how. Since there is some serious money involved one cannot perform pick one out scheme to choose an altcoin.
Technically speaking, one would have to track each and every available cryptocurrency being traded which is nothing less than an excruciating task to perform. Not to forget that there are Ponzi schemes being traded in the market which poses a potential risk for each and every trader. To identify them is a difficult task in itself.
In order to save you from the harm’s way, MCAP token performs that difficult task for you. It has an experienced team of market researchers responsible for the analysis of the altcoins currently being traded in the market for investments through their uniquely devised algorithm. This algorithm evaluates an altcoin on its ease of mining, trading volume and the prospective profit it could incur. Thus when their investments seek profits, it is often reflected in the price of MCAP token, thereby incurring profits for MCAP token holders.
Market’s response towards MCAP
Let’s state some stats here:
· MCAP token has achieved an overall ranking of 45 (previously being 60). Its current market cap is about $121,870,529 with tokens in circulation being 61,084,310. This shows the amount of trust traders place in it.
· Recently, MCAP token topped the hot BTC pair index on the C-CEX exchange. It traded over 500 BTC in a day, hence was trending in the hot BTC pairs list for over 24 hours (as shown in the table below).
· Also, the future growth predictions seem to have doubled up the excitement among crypto-investors.
“Looking at the current scenario, I believe that by the end of November, the price of MCAP will easily touch $100” -German Hedge Fund Manager
In such a short span of time, MCAP token has managed to list itself on a wide number of exchanges such as C-CEX, Bitcoin Growth Fund exchange, Mercatox, Novaexchange and EtherDelta,. Soon it will be eyeing for other exchanges as well. MCAP token is dedicated to assisting its investors in its supreme capacity. For any query feel free to contact them anytime.
