It's been three or four weeks since I last really took an interest in the cryptocurrency world. Sure, I've looked at a few prices to see whats happening in terms of the coins I am interested in, and am glad to say that I managed to claw back the losses I made when we had the recent downward spiral in cryptocurrency prices. I've also been incredibly lucky in that respect.
It just goes to show that with "ups" there follow "downs", and with "downs" there follow "ups". If the market is rising over the long term AND you manage your losses carefully, you will eventually profit.
Anyway, getting back to the point of this post...
Looking at:
https://www.worldcoinindex.com/
I see there are some newcomers to the market with hefty volumes or big market caps.....
Bitcoin Cash
Neo
Qtum
Status
Omisego
Eos
Tenx
Okay, I knew about Bitcoin Cash and maybe I heard something about Status coin, but the others? Where did they suddenly come from?
This, of course, is a rhetorical question. As I explained earlier, I haven't been paying much attention to new coins. But still, It just shows me how quickly things move and how on-top-of-the-game investors need to be. I've obviously got a lot of work to do in getting a general view of what is actually happening in the market.
To finish my rambling, I want to make an important point.
Whilst I have been concentrating on clawing my money back, and even though I have been relatively successful in that endevour, my neglecting new and upcoming coins could in itself lead to unforeseen losses in the future due to my lack of knowledge of the market.
Overall knowledge of the market is one of the keys to being a savvy investor and that should never be ignored.
(Unless indicated otherwise, all pictures from pixabay.com)