When comparing today’s list with last week’s data, some trends start to pop up. In the past seven days, the seven coins with the highest market cap are still in the same position. This is expected for two reasons. The coins behind the best technology will always have the most backers or investors. Also, coins with a high market cap don’t usually change quickly over a week, although it is possible. Take note at the current market cap of bitcoin. It has risen 17 billion dollars in the past week. These are some points to consider to know what to buy.
BitConnect is showing it’s head this week with a surprising market cap of 14.21 million. BitConnect is a lending and investment platform that needs an article or two of it’s own. BitConnect’s platform uses it’s own currency as a way to not bankrupt themselves. The BitConnect coin, BCC, increased 1800% in the first six months. Some refer to it as a ponzi scheme. I’ve heard good things and bad things about it. BitConnect was launched on Febuary 16th, 2016. Stay tuned for a future article on this “high-yield investment program.”
“This would be the time to shy away from the big players and to start looking at alternative currencies with a smaller market cap.”
Advice: I believe bitcoin will settle around $5,500 for now. We do expect it to go up in the coming months. This would be the time to shy away from the big players and to start looking at alternative currencies with a smaller market cap. In another post I wrote about predictive volatility, I briefly went over how when Bitcoin and Ether start to come down after a spike, that money has to go somewhere. That somewhere is the smaller altcoins. I personally like Peercoin or PPC for short. Peercoin seems to bounce in between $1 and $3 making it enticing for someone like me.