While there are those who say they are in crypto for the technology, it is safe to say the majority are in the space to make money. However, since Bitcoin has already grown so much, altcoins have become the clear alternative for those looking to take advantage of the kind of massive returns not available in traditional finance. For those looking to catch the next 100x coin, here are the kinds of altcoins you should be looking at.
Large Cap Crypto Are Out Of The Question
When looking toward very high returns such as a coin that rallies as high as a 100x return, it is important to remember that these kinds of opportunities do not lie with large cap crypto coins. This is because these coins have already crossed their thresholds for such high returns. In other words, they have already done their 100x rallies and will not be able to repeat it again.
As such, crypto investors looking at such high returns should not expect them from coins with already high market caps, such as those in the top 10 to the top 50. With market caps already above the $1 billion mark, the chances of these kinds of cryptocurrencies rising 100x are very slim.
Micro Cap Altcoins Are the Real Deal
In the hunt for the next 100x crypto, the altcoins that should be looked at are the microcaps whose market caps are still under $10 million. In the event of a bull market, these coins, depending on their offerings and support, can easily reach as high as a $200 million market cap.
Altcoin market cap without ETH and BTC only at $320 bill | Crypto Total Market Cap on Tradingview.com
At such a market cap, an altcoin whose market cap started from around $1-$2 million would have already crossed the 100x mark. One example is the case of the Pepe Coin (PEPE) which went from less than $1 million to over $1 billion at its peak.
By the time the altcoin reached its all-time high, it had already seen an over 100x return. This proved, once again, that the higher the returns on investment an investor is looking at, the lower the market cap of the crypto they should invest in.
The Biggest Risks
Just as low cap altcoins carry the promise of high returns, they also carry more risks than their larger counterparts. This is because smaller cap altcoins are yet to prove themselves in the market, and while crypto investments are speculative at best, newer and smaller cap altcoins carry the most risk.
As always, investors should endeavor to do their own research before investing in these risky digital assets. It is also important to not invest more than you can afford to lose as the chances of failure with these assets are higher than the chances of success.
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Author: Best Owie