Could algo trading with ICOs and coin market cap be a waste of time?

(Last Updated On: August 30, 2018)

I have spent a few hours on trying to figure out if initial coin offerings with coin market cap  a time waster. If you ask me, I would say Yes over the long run. When you work with exchanges like Coin Market Cap, you can find the best performing coins in real time with huge swings like 500+%. A recent example would be this ICO of Trump Coin which clearly shows 2 spikes. The last one spike  lasted about a week

This kind of reminds of penny stocks which means these alt coins can be manipulated quite easily. I find this is the case with ICOs in the crypto world. Why do you think the SEC is protecting investors against when it comes to crypto ETFs.?

How to vet these new alt coins?

Even though you can find these high performing alt coins, you need to vet the quality of these. One way to do this is simple test if the coin is listed on Binance. This exchange will not list it unless they have a float of at least $25 million last time I checked. This means it needs to be mature with some solid volume in order to be listed on Bnance. As a result, I  just do a simple download request test  to see if they are listed. I just spent a few hours testing this. I was able to rank the best performing 100 coins from Coin Market Cap. From there, I wanted to test to see if the coin was on Binance by listing it against Ether, Bitcoin, and Binance Coin. Guess what? I was not able to see any of those 100 were listed on Binance. It seems rare to see this case so it makes wonder if this whole process may be a time waster to chase after initially list coins that after.This was a complete waste but that is now out of my system.

Let me know your thoughts on this.

Only HOT bitcoin Ethereum is profitable crypto currency today. LAToken anyone?

NOTE I now post my TRADING ALERTS into my personal FACEBOOK ACCOUNT and TWITTER. Don't worry as I don't post stupid cat videos or what I eat!
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About caustic

Hi i there My name is Bryan Downing. I am part of a company called QuantLabs.Net This is specifically a company with a high profile blog about technology, trading, financial, investment, quant, etc. It posts things on how to do job interviews with large companies like Morgan Stanley, Bloomberg, Citibank, and IBM. It also posts different unique tips and tricks on Java, C++, or C programming. It posts about different techniques in learning about Matlab and building models or strategies. There is a lot here if you are into venturing into the financial world like quant or technical analysis. It also discusses the future generation of trading and programming Specialties: C++, Java, C#, Matlab, quant, models, strategies, technical analysis, linux, windows P.S. I have been known to be the worst typist. Do not be offended by it as I like to bang stuff out and put priorty of what I do over typing. Maybe one day I can get a full time copy editor to help out. Do note I prefer videos as they are much easier to produce so check out my many video at youtube.com/quantlabs