Flipping your savings to more dollars is the ultimate goal behind most crypto adoption, leave alone other uses. Some are in for Darknet activities, others are here due to government conspiracies that suppress them.
Whichever the reason you are in for, I am sure you do not mind enjoying a bull run that will see your crypto portfolio in hundred folds.
With the 2017/2108 bull run that created new millionaires, a lot of hype exist in the today’s crypto industry. The market is saturated with coins that claim to have the answers to our society challenges.
However, it is not an easy task deciding on which project to put your money into and realize good profits. Old time maximalists might direct you to their investment only to lure you into aiding push their agenda forward. Others might be genuine calls and its quite challenging to decipher the truth from the fud.
A lot of factors are in play as we speak that are likely to make the prior rally look like a joke. Some small cap altcoins are pumping hard within few days, only to dump immediately after that. However, others have managed to sustain the pump amidst the pressure.
Having been in the crypto industry since late 2016, I have seen a lot that I think is worth sharing with you.
Am sure you have seen or read that diversification will help you incase of market dump and pump. However, I have a different theory that seems to be working out well.
I call it, ‘my money my rules’. With this notion, patience is key, followed by believing in your own mind.
First, I advocate you think yourself as an investor seeking to sponsor projects that are struggling with capital investment.
Secondly, do your fine tuned research on as many projects as you can. And finally, pick one project that you feel will survive beyond the bubble and all the hype.
Let your pick be a project that is solving global problems and likely to be endorsed by the system without fighting it.
Using well established exchanges and also secure and renown wallets, put your money where your mouth is.
Patiently wait for the fundamentals to play in your favor, which you should expect to be in months if not years.
With the level of volatility experienced in most crypto markets, short term or derivative day trading is a high risk that will put your money at risk of sinking with the boat of many greedy investors.
It is after investing you can now come in with technical analysis probably ‘Elliot wave analysis’ to determine your exit points.
I have seen more profits in patience, putting my money in one bag that I trust in and knowing my exits points.
Definitely there are risks associated with this method, but I think they are worth the possible returns.
I strongly believe our brains and cognitive skills can deliver a much better result with patience and proper research than believing in the mainstream media fud.