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Rachel Welch

09 October 2022 181 Read Altcoins


How to Find Altcoins Before They Spike?

The question of how to find altcoins before they rise is one that is on the minds of investors all over the world. There are several reasons why these currencies can go up in price, so it's important to be well-informed about them. You can find information about altcoins through web forums and articles that focus on the subject. You can also talk to crypto enthusiasts in order to get inside information on altcoins.

The popularity of Bitcoin has led to the emergence of hundreds of new cryptocurrencies. However, the vast majority of these altcoins will fail, and it's the job of the investor to find a project that is worth investing in. You can do this by keeping track of projects and looking for a good time to invest.

Some altcoins experience price spikes because of publicity. One example is when a famous person, like Elon Musk, posts about the altcoins they are supporting. This increases the demand, which in turn increases the price of the cryptocurrency. For example, the price of Dogecoin shot up after Musk's tweet about it.

One strategy that you can use to find altcoins before they spike is to monitor decentralized finance protocols that run on other blockchains. This approach is largely overlooked, but is vital in today's market. This type of decentralized finance is struggling on Ethereum because of its high gas fees, which creates an opportunity for other chains. Among these is the SDK-based deFi (Cosmos).