Your crypto guide to be rich- what to look in a crypto currency
hey everyone,
cryptocurrency is an investment which has potential for wild returns, but which crypto to invest in? there are almost 1000 different types of cryptos, investing in the wrong one will sink your ship, this is a guide to select the best out of them.
But we know the basics like dev community, market cap etc, i will focus on the more hidden aspects
Pump and dump
Many a times you see a currency steadily and rapidly rising and then suddenly plunges, this is due to some buyers who first stimulate huge demands, which rise up the prices of the crypto and then suddenly pullout. so two things can be learnt from pump and dump.
1) if a currency starts rapid gains, but it has no reasons to, like no announcement, no update, then this means it is being pumped, you see altcoins with very high gains in 24 hours (like 500% ) then be mindful.
2) but here's the thing, pump and dump also provides opportunities for you too, you just need to know which crypto may be pumped, like promising cryptos which have never been pumped Aragon is one of them, when pumped, it will be at least 5x .
aragon details
cheap cryptos in top 100's
this is my number one strategy for huge gains
bitcoin is the boss in crypto, when it comes to crypto many of the people just know bitcoin and not anything other. but still there is no mass awareness about bitcoin, hardly 10 - 15 million people use it, but is is undeniable that it will be the future.
like this time when japan legalised bitcoin and it saw huge price soar, it will happen again but at a much bigger scale in the future.
but here is the point, when bitcoin boom happened, it also caused a boom in other alt coins also, see how their growth is similar in may to july period. thus the strategy is to buy up as much as cheap cryptos as you can buy in top 100, like doge coin and Byte coin, because when the next boom happens these cheap cryptos with lowest prices will se 10x growth, no matter the individual strong points of the coin the sentiment will drive it further
** for example** Doge coin has a dead developer community, the last update came ages ago, somehow its enthusiasts have kept it alive, but when bitcoin burst happened, its prices rose up by 10 times
doge coin price on
Apr 17- 0.000297 USD
jun 17 - 0.00361 USD
that's almost 12 times increase.
but the question arises, the prrofit is too meagre, wrong
lets prove this mathematically
consider you have 1000 USD
you buy doge coin
for 1000 USD you buy, 602,409 DOGE , at curent price of 0.0016 USD.
bitcoin boom happens, price rises to USD 0.0095 ( proportional to last time)
profit= 602409*(0.0095-0.0016) approx 5000 USD
Similar is the case for byte coin, i think the dev team is shitty but market sentiment can boost it up, but recently the dev team has posted updates and plans and if all that works out succesfully the prices could jack up pretty quickly even without bitcoin help.
but as for ripple, it has no chances of rising further as it is meant to aid transactions and not jack up prices
these coins like DOGE, BCN do not have individual capabilities to rise but due to market sentiment even a small boost causes immense profit, while big coins like ethereum which you will get meagre amount, are already huge to rise to astronomical profits
Can you explain pump and dump in detail? How people actually do
Good points in this blog. I fully understand what you're talking about. It's surprising how much uneducated investors the crypto space has. You still see people invest in this shady and scammy coins. I was researching a way to find more info about the current cryptocoins on the market. I really advice people to take a look at: https://www.coincheckup.com This site gives you a complete in depth investment analysis on every crypto in the market.
what do you think about coinmarketcap, it is also great