3 Cryptocurrencies to Avoid Like the Plague in March
Don't look now, but artificial intelligence (AI) stocks aren't the hottest investment anymore. Despite the massive gains witnessed from the likes of Nvidia and Super Micro Computer in the AI realm, it's the cryptocurrency space that's, once again, turning heads and dropping jaws.
As of late evening on March 3, the combined valued of all digital currencies listed on CoinMarketCap.com was $2.39 trillion. That's up 44% from where the year began and a whopping 134% (from $1.02 trillion) over the trailing-12-month period. In other words, the combined value of all cryptocurrencies has risen at more than three times the pace of the gains in the Nasdaq Composite over the trailing year.
To be fair, the catalysts of the cryptocurrency space are far different from buying and selling stocks on Wall Street. Whereas the latter is primarily driven by news events over the short-term and operating performance over long periods, cryptocurrencies have a strong tendency to move based on technical analysis and emotion-based trading, such as the fear of missing out (FOMO).
Source Fool.com
