If you are a cryptocurrency investor, then you need to make thorough research in the market before deciding on the kind of project to invest because making the wrong choice can cause you a fortune. It is quite surprising that in the crypto market, the riskiest coin is the one that gets wild in the mid of a bullish market.
Explicitly, investors were hoping to make fortunes from smaller coins as they present the opportunity o buy a huge some but that dream die of with some of the coins. This taught a lesson of understanding the market trend before even considering. Is good to take risks, but it is also very wise to stay away from high-risk cryptocurrencies. Let’s take a look at three high-risk cryptocurrencies to avoid in 2019 and beyond
Three high-risk cryptocurrencies to avoid in 2019 and beyond
- Tether (USDT)
- Dragonchain (DRGN)
- Nano (NANO)
It’s quite tricky giving a price prediction for the three coins because their trends are unclear. Among the three Dragonchain presents the highest risk. With major success and a big gain in January last year, the cryptocurrency dropped about 80% just after a week or two and has remained quite low till the end of 2018.
However, being the idea of the giant Disney and looking at it comparatively small market cap which gives it more room to grow, the cryptocurrency may bounce back high, and a great year if 2019 brings the market a positive rally yet this may as well be a false forecast.
Furthermore, the above three cryptocurrencies like other coins in the market remain deteriorating in a long time when a downtrend hits them. They sooner or later become the victim to an unstable market with the highest risk of being left out from the crypto payments world.
The inability to survive the bearish market and remain a bit stable boils down to the lack of users and adoption rate which is the key driver to growth. This is particular for Tether and Nano which are among the top 50 cryptocurrencies but have lost huge traction. Tether has been battling so many controversies on its legitimacy, Many people will like to put their money or seek the services of popular cryptocurrencies, even if they are not the most effective at that period, as the trust or believe is that the well-known ones are the best in terms of existence.
This eventually put the other cryptocurrencies in a stagnate state. I think it is advisable to be careful with these three cryptocurrencies because its potential plays at very high risk
Author: Lydia Yeboah Frempong