Most of the attention of the media and traders often arises on Bitcoin.
Yet many cryptocurrencies, also called Altcoins, exist on the markets.
In fact, there are more than 1300 and are sometimes very interesting.
Bitcoin price influences cryptocurrency
Take the example of recent weeks. We first saw the explosion of the Bitcoin price around $20,000, then its free fall. It is now stagnating around $ 15000.
However, the cryptocurrency market tends to suffer from significant fluctuations in Bitcoin.
However when bitcoin stagnates the Altcoins they soar.
This is why experienced traders generally choose the lateral movements of Bitcoin to invest in other cryptocurrencies.
The sharp increase of some small cryptocurrencies.
In particular, if one observes the smallest of these altcoins, one notices that some have made prodigious leaps these last times.
Another piece that made a big comeback, the Dogecoin. It has won this last month 475% and today costs about 98 Sats.
It must be emphasized that none of these coins are worth more than 4 cents!
And by the way, most of these currencies do not exceed $1 despite their progress.
Many coin are good for morale!
It is undeniable that few small investors can afford 1 Bitcoin. And they often prefer to have hundreds of coins in their wallet than thousandths of Bitcoin.
For example, for 1 thousandth of Bitcoin one can obtain 1300 Reddcoins or 700 Yards. Psychologically, it seems more important and it’s better for morale!
Moreover, what scares away small investors, is the price to pay to send Bitcoins.
This price is much lower if you use Reddcoins or Doges for example.
Finally, there are cases of efficient use of these small, cheap cryptocurrencies. Even if ultimately the transferred value pool will be converted back to Bitcoin.
In conclusion, investing in cheap parts can be wise: it can not only be useful, but also pay big!