Post
Topic
Board Altcoin Discussion
Re: What are the things to look for when buying Altcoin?
by
Mauser
on 03/03/2021, 18:14:42 UTC
Currently, if you want to buy any altcoin, it is very difficult. You can't choose an option quite easily. Also, the crypto market is currently volatile. In such circumstances if one wants to buy altcoin. So what should be the main focus?

My main focus when buying a new Alt Coins is usually looking at the trading history over the last 90 - 180 days. In my opinion we can get a lot of information out of the past data. My key indicators are usually the high and low prices and the average daily traded volume. If there is most of the time no volume in the coin I am a bit spectic, because it could be hard to get out of the coin if prices start dropping. Also I don't want to close to the highest traded price over the last year. Volatility is usually a good indicator of how much the price if fluctuating and if it is a good timing right now to buy the coin. Maybe it is better to put it on the watchlist and monitor the price for the next few weeks to try and get a cheaper price.