The only certain thing about the cryptocurrency market is that it’s completely unstable and difficult to predict.
Can you see the market correction in the above image? The crypto space fell from a total market cap at about $830 billion to less than $350 billion in the depicted time span.
All of the tokens in the top 100 were in red, including IOTA.
The market was bearish because of news from South Korea, India, China, and the Netherlands, which hinted or explicitly declared that they will restrict or not allow the use of Bitcoin and cryptocurrencies in general.
South Korea scared investors by stating that it would ban crypto exchanges, but it actually just intended to get some control over them.
China decided to completely ban all of the cryptocurrency activity inside its borders. It banned local crypto exchanges and ICOs last year.
So, before investing in cheap tokens with the hope to get astronomical returns, you should make sure the crypto market is in good condition. It doesn’t mean you should invest during its peak – this bearish period is great for investors – but you should anticipate the market’s recovery in the first place.
Before naming some coins, it’s important to note that IOTA is not the single token that has generated an impressive return in December. Ripple, Stellar, Torn and Cardano might have had even more gains than IOTA.
Here are some coins that might do well in 2018:
- Stellar – even if it’s already in the top 10, it has a lot of room for growth, especially if it goes mainstream and challenges Ethereum.
- Pillar – PLR is an Ethereum-based project that aims to change the way we use personal data. It is currently in 72nd place on Coinmarketcap and has a lot of room for growth.
- Simple Token – this project is less than 3 months old, so it can grow very fast if it succeeds. It allows businesses to create new tokens in a very simple manner.
You should not ignore coins like Cardano, Status, and even Ethereum – it might even overcome Bitcoin.
However, the best advice would be to create a portfolio rather than invest in a single coin.