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RE: Easy cryptocurrency money making strategy: find the laggards

in #altcoins6 years ago (edited)

I've been building more of a "portfolio" of cryptos over the last several days. Without really putting a name on this strategy beforehand, this is exactly what I have been doing - and it has made me about a 10% profit over the last 3 days!!!

There's definitely something to this idea of, "finding the laggards." However, IDK if this is just something that is unique to Alt-Coins or not? It could be, since everything follows BTC price - generally speaking. But, I'm not really all that familiar with other classes of assets, except for precious metals. You're basically advocating using BTC and general Ether/Alt-Coin price action as a leading indicator for where other Alt-Coins may probably be heading. It does make sense, but you must know your picks well and that they have a good, established history - or as much of one as is possible to have in the current Alt-Coin environment.

To be honest, this is all still very speculative and risky, as far as being able to "pick a winner" from the massive crop of Alt-Coins. Amongst crypto enthusiasts, it's a generally accepted notion that blockchain technology is the wave of the future. That may be, but the overall cryptoshpere in 2019 is probably going to look drastically different than many of us expect it to. That being the case, you would do well to enter into several smaller positions and wait a while to see which ones confirm their use-cases over the next year, before investing more.

The other thing I have been doing it trying to find those tokens which seem to diverge from BTC and sort-of, "buck the trend." For example, OmiseGo (OMG) has not really been following the general BTC pattern as of late, and it's an interesting thing to watch how that plays out.

Anyhow, good and thought-provoking post! Thanks for sharing your thoughts. I decided to give you an upvote and a resteem, hoping some more people will come in and comment/share their thoughts on this topic of discussion.

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