Altcoins are a dime a dozen in the cryptocurrency market. There exist thousands of different digital assets, all of which promise to offer society with a novel use case that its competitors cannot. It should thus come as no surprise that altcoins are subject to different price trends. Some move directly in sync with Bitcoin; others are subject to dramatic price rallies and horrendous capitulation events due to low levels of liquidity.
Bitcoin Economics, a Twitter account focused on analyzing the nascent cryptocurrency market, recently attempted to analyze top altcoins to determine which ones have the most profit potential and exhibit the most similarities to Bitcoin.
While most of the cryptocurrencies, including Ethereum, Monero, and DASH, analyzed move in correlation with Bitcoin, three coins stood out as trades that could yield the largest profits: Litecoin, XRP, and Stellar Lumens (XLM).
The account argued that the three cryptocurrencies “look like pump and dump coins with long flat periods [of accumulation] and extreme spikes [to the upside]”, implying that there is potential for profit to be had. Read More...