Welcome To The Altcoin Analysis Steemit
If your reading this you probably found this page from one of my other social media channels. This platform is intended to provide detailed blogs about content that is produced on other Altcoin Analysis social media.
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Hi! How do you monitor altcoins on the market? With the advent of so many ICOs their amount is undoubtedly huge.
It takes quite a lot of research. I came to the realization that 90-95% of coins are very poor investments and the percentage of bad ICO's is substantially higher. Some of the first steps I take are;
-Making sure the business model and tokenomics make sense (they almost never do)
-Making sure they have an actual working proof of concept or some practical implementations (partnerships and ideas mean NOTHING),
-A utility that is useful and unique. I never look at coins that only function as a currency because they don't distinguish themselves and I can't guess where consumer confidence will shift.
I tend to bend the rules a little bit for very speculative projects but that is conditional on outstanding technology, team, and plan.
I made a video about some of the uncommon tools that can be used for coin analysis. This is not a great overveiw though because I didn't want much overlap with other content;
If your interested in technical analysis it is not my specialty but this video sums up the basics using Binance;
Keep in mind my focus is on long term coin analysis and finding the most innovative technology. If your looking to swing trade my advice is useless.
"Making sure the model makes sense" is my favourite point) I've just watched your video, thank you for sharing this resource, it is very informative and everything you said was exactly to the point, again, thanks a lot!