Hey guys, I wanna hold some alts for 2-3 years. Can you advise me some? I am thinking about Bitquance, XVG, OMG, NEO....anything else?
There are a lot of altcoins out there today, and it will not be easy for us to choose which altcoin will be successful or not in years to come. I'll give you some tips, first, on how to identify good altcoins so that it can help you later decide by your own before I give my altcoins of choice.
First, look for those altcoins which are cheap. It is nice to buy bunch of coins/tokens if you plan to keep them for a long time. Thus, buying coins/tokens at cheaper price will be a great start.
Second, look for those altcoins with high market cap. Market cap (in the cryptocurrency language) refers to the total value of all the coins of a certain altcoin. That is, the current price of a coin of a certain altcoin multiplied by the total number of coins of that altcoin circulating in the market. For example, if all BTC (21M) are already mined today and all are circulating, then the market cap for BTC for today (current price is $4,500) will be approx. $94.5B (REALLY!?). That's a lot of money
(BTC has a current market cap of $76B with 16.6M coins circulating in the market).
Next is the total number of circulating supply. The higher the circulating supply of a coin, the lower the chance for it to reach its highest price. This is actually a basic concept in economics - the Law of Supply and Demand. If there's a high supply of a certain product, the tendency is that the price will be low.
Lastly (this is my personal basis), look at the history/price chart of the altcoins that you want to choose. It is good to invest to coins with a price chart that has increasing or stable (at least at a reasonable value) trend. An altcoin that comes from low value going up to higher value is, in my opinion, a good choice.
Now, I would like to give you my personal picks of altcoins which I think will be good for long term investment. My best choice will be RIPPLES - low price; although it has high circulating supply, its market cap is ranked as 3rd highest among cryptocurrencies and has a increasing trend of price chart (+ 15%). Another good choices, for me, are: WAVES - low price; although the circulating supply is high and the trend of price chart is decreasing (-11%), it has good market cap value ranked no.18. I also believe that WAVES has a bright future; and STEEM - low price; although it has high circulating supply and the trend is decreasing (-7%), it has still a good market cap value ranked no.22.