NOTHING IN THIS POST CONSTITUTES FINANCIAL ADVICE. PLEASE DO NOT MAKE IMPORTANT DECISIONS WITH YOUR MONEY BASED ON THE CONTENT OF THIS WRITE UP. YOU MIGHT AS WELL DONATE THE MONEY TO A CHARITY IF YOU DON'T PLAN ON USING IT.
Everybody wants to be a crypto whale.
We all want to have 1000BTC and be on the news when we move our stash.
The truth is that most whales were formed during Bitcoin's early days.
When it was priced at around a dollar.
But can you still become a whale today? Can you still own a crazy amount of a certain crypto that you love? Be it BAT, BTC, XRP or BCH?
The answer is yes.
But how? Do you borrow money to buy these large amounts? Or do you buy a scam coin and hope that it turns out great?
You have to do none of those things.
But you'll have to do just one thing. And that is master altcoins.
Master altcoins? Are they a talent?
No. When I say master altcoins, I mean know which altcoin to buy, know when to enter, when to exit, and when to take your profits and run.
The plan is simple. Start off with about $50 if you absolutely can't risk much. Buy an altcoin based on the characteristics I will list below. Sell it off when it reaches its all time high. Pocket the profits to be recycled in this same cycle again.
You'd notice that you may start off with $50, but your next cycle run will kick off with about $70 or $80. You'll keep reinvesting your profits until you're at $1000 or so. Then that's when you'll really get started.
Now you may be thinking: '$50 to $1000. That'll take me months!'
And you're not wrong. It will take you months. If you don't have a plan.
You see, fail to plan and plan to fail. It's really that simple.
(I'll give you the checklist for altcoins soon, so please bear with me.)
I know this method works because a friend of mine started 2017 with no Bitcoin, no crypto and just $2000. Today, he has over 10BTC as well as other cryptocurrencies.
Is he a whale? No. 10BTC doesn't make you a whale. But is he big enough to cause market swings when the price is low? Of course he is!
So on to the checklist.
You'll need a few major tools.
- A Binance account: if you don't have one of these, forget it. You really can't follow these steps anyway. Binance has the largest trading volume of both BTC and ALTs, and trading volume is essential for you to get out of your trades with profit. Get one here.
- A trading view account: You'll see why soon.
- Excel spreadsheet: To note down your profits and losses.
Ok. On to becoming a whale.
You'd want to search Binance thoroughly. Look for any coins that are low in price and are showing signs of breaking out. This sounds like a hard thing to do, but that's why you can use trading view instead. Trading view will give you the probabilities of each coin mooning or not, right on its graph. You'll need to pay close attention to any reversal candlestick patterns and candlestick formations.
Once you've found a coin, wait for it's price to reach support and go all in. Calculate your TP1 and TP2 points, and your stop loss points. Then go to bed. Really.
Your trade will probably be a winner because trading view uses some complex mathematical statistics to predict price action.
In the case that price moves against you, your stop loss is in place to ensure you don't bleed your account.
Doing this more than once will increase your confidence in yourself.
And who knows? You might be the next whale or crypto street.