With more than 1400 cryptocurrencies out there is hard to keep track off all of them, and to be honest most of us don’t really ever click on the next 100 on coinmarketcap.
And that’s why I thought it was very weird that this coin is number 38 by marketcap!
I know most of you would agree with me on this, the price of a coin regardless of the total circulating supply has a huge impact on the perception of the people in regards to it being over or undervalued.
A great example in my opinion is TRON (TRX), I’m not hating on the project but I think most of the people who still claim it can reach 50 cents don’t realize that would give TRON a marketcap higher than Bcash.
I’m sure most of you remember the huge milestone it was for Bitcoin to reach 1k, 5k or 10k, since they were really big psychological barriers but I don’t recall hearing about TRON’s 5 cent milestone.
I guess what I really wanted to share is how interesting I find the price approach this coin took and how it didn’t stop it from growing and giving 60x returns in less than 6 months.
I guess why I really wanted to share with you is a little lesson that I hope you didn’t had to learn the hard way, and that is:
Just because a coin is under a dollar it doesn’t mean it still has room to grow or that it is still undervalued
(At the same time keep in mind a lot of people let their perception of the price affect their judgment in regards to the potential of a coin or the price, thats why some swings in price are perceived different than others, that’s why it is always harder to see Bitcoin drop 1K than it is to see Ethereum lose 100 dollars in valuation)
Hope you find this interesting and maybe take this into consideration the next time you consider investing into a coin.