Honestly, let’s analyze it as an investment, not just quick trading:
Its current position in terms of volatility:
The current volatility is crazy:
- Daily 22% - meaning your account can increase or decrease by a fifth in one day
- Monthly 382% - this puts it among the top 10 most volatile coins in the market
This fluctuation is caused by:
1. Relatively weak trading volume (only $1.1 million in 24 hours). So anyone buying with an average amount moves the price