5 Ways to Predict Cryptocurrency Coin Prices?
Hi all
I wanted to talk about ways that I found to predict cryptocurrency coin prices. But let me tell you this first; there is no way to actually knowing the future prices (as you might already know, no one can see the future) However, there are number of quality methods to do solid predictions.
1) Bollinger Band
Bollinger Band is one of the best price guess approximator in my opinion. What is does is, stock of the price is bracketed by upper and lower band and these bands are its standard deviations.
But how do we guess price by looking at it?
Well, it turns out If the current price exceed the upper band, it has more tendency to decrease and go back into the band. Same as If price go lower than the lower band, it has more tendency to go up.
Basic idea is, price likes to stay inside the band. So you can give your orders based on that estimate. Please check the image below for example from bitcoin
I use tradingview.com to follow-up cryptocurrency prices, you can add Bollinger band as an indicator from price profile.
If you have more questions about that please let me know !
For more information about Bollinger Band = ClickHere
2) Read famous crypto people’s comments
Cryptocurrency market cap’s are increasing super fast. But still it is too volatile and manipulative. People are following each other’s movements. (Someone bumbs the price up and everyone else just randomly buys it or based on a reddit post, people buy the coin)
When this is the case, it might be wise movement to follow some famous cryptocurrency people and just consider their suggestions
One of such person is ‘’John McAfee’’ he posts coin of the week article every Monday on twitter. And people just blindly buy his suggestions. So, it might be nice to follow (Guy has 500k + follower)
However, my personal favorite is this guy from tradingview.com
His name is DLavrov, and he makes such a good overviews. His suggestions are also usually accurate
3) Read the crypto news !
Don’t forget to read latest news about coins.
I personally use https://cryptopanic.com/ for that.
Trust me, you would want to be one of the first people to know, If Trump announces something like ‘’I am going to erase cryptocurrency from Earth’’
I think there are some phone applications for the cryptonews too, they even send you notifications If something important happens.
4)Read the source code
Coins are only strong as their source code. So you would want to know how strong their security and core code.
If you have Computer Science friend or someone understand coding language get help and read source code
You can reach it from https://coinmarketcap.com/, just click on the coin you want to see and select source code from left
5) Most importantly learn which coin is doing what!
Every coin is different. Some of them offers decentralized internet access, some of them offers quick money transfer from mobile etc..
Know your coin! Know what you are investing into. Cross-check with your beliefs, do you really believe that technology will change the world?!
I will start posting about which coin is offering what technology, keep in touch for new posts about those !