#AltcoinBreakout The selection of altcoins for cryptocurrency day trading is based on the same principles as the selection of any other asset to trade. The main characteristics to consider are trading volume (liquidity), accessibility (strong presence on cryptocurrency exchanges), and a deep understanding of the fundamental and technical attributes of the asset. High liquidity is essential for cryptocurrency day traders, as it ensures that trades can be executed quickly without significantly affecting the asset's price.
An altcoin, or alternative coin, speaks for itself. An altcoin is any cryptocurrency alternative to Bitcoin - the first. Altcoins can differ from Bitcoin in all possible aspects, such as mining mechanisms, coin distribution methods, or the ability to create decentralized applications. Although Bitcoin is innovative and highly influential, it has some issues that developers are trying to solve with their own products. There is an altcoin that makes transactions faster, there is an altcoin that is less volatile, there is an altcoin that is more private, and so on. There are more than one thousand five hundred alternative coins in the market on the day this text was written, according to coinmarketcap.com. Altcoins are playing a very important role in expanding the limits of blockchain possibilities and the scope of applications.
