Source: Coinmarketcap.com, Saturday, January 13, 2018, 10.30am
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don#8217;t own any cryptocoins or tokens.]
Bitcoin, Ehereum, Ripple, Litecoin, and a few other high visible cryptocurrencies have made early investors very rich, very quickly. And they could make many more investors rich, provided that they continue to rise at the recent feverish pace that parallels big lottery Jackpots.
But that’s unlikely, as these investments cannot defy the numbers game. This means that would-be rich investors must look for the next lucky coin elsewhere on the cryptocurrency list, while the hype for the digital currencies lasts.
Still, picking up the next winners in the cryptocurrency space is a very difficult thing for a couple of reasons. One of them is that there are more than 1000 cryptocurrencies to choose from—1426 to be precise. Another reason is that there are no “fundamental” metrics to appraise the “intrinsic” value of each coin, as is the case with conventional assets. The only thing available is a site with a promise the coin holds to change the capitalist world, should it be adopted to replace national currencies in day-to-day transactions.