Price: $0.43398 4.8405%
Market Cap: 63.76B 1.9093%
Volume (24h): 20.89B 0.4%
Dominance: 1.9093%
Price: $0.43398 4.8405%
Market Cap: 63.76B 1.9093%
Volume (24h): 20.89B 0.4%
Dominance: 1.9093% 1.9093%
  • Price: $0.43398 4.8405%
  • Market Cap: 63.76B 1.9093%
  • Volume (24h): 20.89B 0.4%
  • Dominance: 1.9093% 1.9093%
  • Price: $0.43398 4.8405%
Home > Information news > Best short-term crypto investments for August 2024

Best short-term crypto investments for August 2024

Release: 2024/08/18 17:01 Reading: 859

Original author:crypto.news

Original source:https://coinmarketcap.com/community/articles/66c1ab07d3181a758f6120b3

Best short-term crypto investments for August 2024

Short-Term Cryptocurrency Investments

Short-term investments involve acquiring assets or cryptocurrencies and selling them within a short period, leveraging price fluctuations for profit. They are suitable for those comfortable with higher levels of risk.

Short-Term Crypto Trading Strategies

Day Trading

  • Entails buying and selling cryptocurrencies within the same day or hours.
  • Targets small price movements.
  • Requires knowledge of the underlying crypto, technical indicators, and emotional control.
  • Start with small investments.

Scalping

  • Rapid buying and selling of cryptocurrencies to capitalize on minute price changes.
  • Involves numerous trades daily.
  • Requires identification of minimal price movements and careful risk management.
  • Focus on liquid pairs.

Swing Trading

  • Positions are held for a few days or weeks to capture medium-term price movements.
  • Blends technical and fundamental analysis.
  • Involves monitoring market trends and setting stop-losses.

Choosing the Best Cryptocurrency for Short-Term Investments

  • High Liquidity: Ease of buying and selling without significant price impact.
  • Noticeable Price Swings: Potential for substantial price movements.
  • Manageable Risk: Understand the project's sector, market capitalization, price history, and recent updates.

Top 4 Short-Term Cryptos

Ethereum (ETH)

  • Second most popular cryptocurrency after Bitcoin.
  • Facilitates decentralized finance and smart contracts.
  • Known for its stability and growth potential.

Chainlink (LINK)

  • Oracle network connecting blockchain and real-world data.
  • Provides accurate data for smart contracts.
  • Essential for decentralized applications in finance, IoT, and DeFi.

PlayDoge (PLAY)

  • BEP-20 token on the Binance blockchain.
  • Play-to-Earn model combines entertainment with earning potential.
  • Inspired by the classic Tamagotchi game.

Pepe Unchained (PEPU)

  • Meme coin with an impressive presale performance.
  • Plans to expand its ecosystem into DeFi, NFTs, and AI.
  • Potential for substantial growth.

FAQs

Best Crypto to Buy for Short Term?

  • Ethereum, Chainlink, PlayDoge, and Pepe Unchained are recommended for their potential for short-term gains.

How to Choose a Crypto for Short-Term Investments?

  • Prioritize liquidity, project background, market capitalization, price trends, and news updates.

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