Top 100 cryptocurrencies
I would say that depends on the period you are willing to let the investment be tied in the cryptocurrencies. And that is supported by data from price graphs of the top 20 cryptocurrencies-by market capitalization.
In the short term, it is hard to tell whether cumulatively you will make a profit, especially if you are going to apply the same rules to all the cryptocurrencies. That is because same factors don’t affect the up and down movement of the prices of these cryptocurrencies.
For instance, after the US securities exchange commission (SEC) declined to approve a Bitcoin ETF on 10th March 2017, bitcoin’s price plunged by about $300 within minutes of the announcement, and that was almost exclusively to bitcoin. Similarly, after the DAO hack in June 2016, Ethereum’s price plunged and that too was an exclusive to Ethereum.
To make a profit in the short term, you may need to follow closely trends of each cryptocurrency, then buy and sell at the appropriate times for each.
However, if your plan is to have a three month or investment, then the data points to a likelihood of making a profit even if you apply the same rules to all the 20 top cryptocurrencies.
Looking at the graphs from, most of the coins in the top 20 list have made price gains in the last three months. That of course includes bitcoin (BTC), Ethereum (ETH), Dash (DASH) and Monero (XMR).
A few like Ethereum Classic (ETC) have pretty much remained in the same price region. Nevertheless, the general trend is upwards.
The more the timeframe the clearer it is that almost all cryptocurrencies in the top 20 are growing in price, which means that if you put the $100 in each of them in a year for example, you are seems likely you’d make a profit commutatively.
Conclusion: No one knows the future, but looking at past trends, putting $100 in each of the top 20 cryptocurrencies may lead to a profit, if you are willing to stake for three months or more. Extrapolating past trends into the future for any type of prediction can be dangerous. Always remember past performance does not guarantee future results.
