Good morning to all of you. My name is Carlos Matos. Some of you may know me because I became a very famous Bitconnect Meme. I will love to hear how to 10 X my money if I would have let’s say $50K to invest. Thank you in advance for your help.
The first thing I would do, is get either the Token Metric Investor or Professional Plan. Get the AI to create me portfolio with the coins it recommends and then do my own research on those coins. Generally if a coin has positive news it will pump, so it’s always good to see if the coins you have are in line with the projects roadmap. Check to see if any of the projects are having events, if the events are good there might be some FOMO around those too.
Carlos, congrats on your BitConnect meme earnings.
First, if I may, the question in and of itself speaks to everything wrong in any investment strategy and is just rife with greed. You don’t succeed by targeting 10x on your money as fast as possible. You succeed by trying to invest correctly, one step at a time, and the money will take care of itself. Opinions are like A$$holes and this is just mine. It is developed from being in the space since 2015,managing a multimillion dollar crypto portfolio, and taking things as serious as a heart attack. My opinion, is just that. You’ll have to develop your own. Hopefully you’ll find some nuggets of knowledge to call your own.
I used to own aircraft. You know how you make a small fortune in aviation? Start with a large one! The same should be said for trading cryptos.
Almost all traders invariably lose their money. Retracements are typically brutal (like BTC’s 15% in hours) and trading stops can get blown right through. Trading on leverage will be the death of you.
It is an indisputable fact that HODLER’s outperform traders. So your portfolio should be 95% buy and hold and 5% used for trading. Any trading profits go to increase the size of your core positions. If you lose the 5% trading, then that is your flag that you’re no good at trading and you should stop. If after a year of successful trading, you can bump the trading portfolio to 10%. Never trade more than 10% of your portfolio. Trading includes day, swing, or any period other than holding. In the big long term picture, the only 2 tokens that matter are BTC and ETH.
BTC has finally captured the institutional eyes and is considered digital gold. 15 African countries, riddled with inflation and monetary destruction are working towards using BTC as the national currency. I expect BTC to be in post Great Reset global currency basket, and would not be surprised if it were to be used for sovereign trade settlement.
While BTC has gone from a means of payment to a form of a gold standard that is not overly concerned about payment speed, ETH is the go to token for decentralized finance and it is here to stay. Not only does it have first mover advantage, every other token that is not ETH co-operative are fighting for their lives to develop bridges to ETH. Cardano and XRP are perfect examples. If you are in defi, you must “bend the knee” to Ethereum or die so own the King.
Core holdings in BTC and ETH are the no brainers in the room as they are the safest long term investments. ETH is a good buy right now as it has outperformed BTC in the first quarter for the past 5 years, and is still well below its all time high.
My major Alt coin holdings are LINK, UNI, DOT, and XMR. Any volatile moves to the upside (like Links last move to 20 dollars) is used to capture profits and those profits go into BTC or ETH. Any altcoins that I own are intended to be sold at a profit, to buy more BTC and ETH.
I guess another way of saying it is BTC and ETH are the product, every other alt coin is used as a tool to acquire more product.
Sometimes simple is just better. Use most of your capital to invest in long term core holdings, and then you can use Token Metrics to time entries into those core holdings or to look for tokens to trade around the edges with that 5% of your portfolio. If you’re good at it, this dabbling can make you a lot of money to sell and convert to your core holdings.
Bottom line is, your 10x move is going to be more dependent on when BTC gets to 100,000 dollars more than anything you can personally do.
Ye, if you’re new to crypto, then ironically, the fastest way to 10x your money is probably by just holding BTC and gaining a compound interest. XD
Otherwise, you’ll just be losing it.
I’ve always done well while investing into coins that have a strong personal use cases or solution to me. Things like ETH, XLM, CEL, VET and BAT. If they go down, I’m happy as I can strengthen my positions. When it goes up I cheer for the projects. It’s a win-win not just on price. Keeps me happy.
Sometimes I feel alt coin flippers are just exposing themselves to LUCK.
You’re balancing your constitution for risk.