Time and again, some of the lesser-known cryptocurrencies and Altcoins have surged significantly. This is exactly what has happened in the past 24 hours. A lesser-known Altcoin has surged by over 86% in just one day. It has almost doubled the money of investors in just 24 hours. Thus, it is time that we look at this Altcoin in order to find out whether this is just a fluke or whether there are strong fundamentals underlying the surge.
This Altcoin is the best cryptocurrency performer today with 86% gains:
Chances are, you might not have even heard about this Altcoin before. It is called Buggyra Coin Zero (BCZERO). Even after the recent surge, it is at the 72nd position by cryptocurrency market cap. A day earlier, it was trading around $ 0.0179. The market cap was around $ 30.13 million. Currently, it is trading around $ 0.030. The market cap currently is around $ 51.38 million.
The price movement is not an isolated incident. When you look at the price movement of this Altcoin in the last 7 days, it has moved from $ 0.0061 all the way up to $ 0.0306. The market cap in a week’s time has increased from $ 10 million to $ 51.38 million currently. Thus, if you had invested in this Altcoin a week before, you would have made 5 times your money. At the same point in time, it has not retraced due to the intraday downtrend which is being experienced by most of the cryptocurrencies currently.
Fundamentals of the Altcoin:
Now let us look at some of the fundamentals of Buggyra Coin Zero (BCZERO). It was issued by Buggyra racing team. It is in racing enterprise which has been in the truck racing community for quite some period of time. It organises and takes part in races all over the world. According to the official website of the coin, in Q1 of 2019, it is expected to get listed on NASDAQ exchange. There are no clues however as to whether it is moving on that plan or not. According to the website, by the year 2020 it is expected that the Altcoin will reach $ .05.
If you’re thinking of investing in this Altcoin at the present prices, hold your horses. This has increased already by 5 times in just 7 days. That is why; the downward risk is pretty immense. It would be a good idea to find out more about the fundamentals of the company rather than investing at these inflated levels. You should definitely wait out for some correction before going ahead with your investment.