The world is going crazy about the run Bitcoin had in past couple of months or rather people are losing their mind knowing others have made quick and dirty money. This run saw a complete frenzy with people mortgaging houses to buy cryptos. Koreans going berserk over any coin they could get hand on. Well, the bull run is not over yet. It just broke out for holidays.
This blog of mine is not a financial advice but an encouragement to think through your crypto investment strategy. I believe lot more money can be made by careful investment in slightly smaller coins which have not had their time in sun yet. We can analyze the last one month of crazy crypto frenzy to see exactly that. Lets take a period snapshot of 23rd Nov till 20th Dec. I know last couple of days have been rough but lets look at the period when money pours in.
In this period Bitcoin went from $8000 to a max of $20000 (somewhere near 18th Dec), all in less than 1 month. That is cool +150% in less than month.
I would settle for that return anyday. But problem is we do not know when that bull run will come. So, I follow a strategy of looking for these short/ long bull runs which typically starts with Bitcoin where it pulls away from other cryptos in market cap. This is the time when its time to make huge money in some smaller cryptos. Because of lower baseline, these cryptos will most certainly outperform Bitcoin. All it needs is some research and right entry point. Entering in any crypto without research will peg you back a long way !!!
Lets look at some of these slightly smaller crypto over the same period. First one IOTA, this is a crypto which is a Internet of Things blockchain and had recent tie ups with major companies like Microsoft, Cisco etc. It grew from 0.87 to max of 5.6 giving a return of 543%.
Then there is Cardano -- 0.028 to max of 0.58 giving whopping 1971% return. This crypto does not even have a product yet but has a stellar team and a very packed roadmap.
Let me not bore you with more graphs. Just to drive home my point, below are few more examples.
I have left quite a few off the list, notable ones being Verge, Next, Ardor, Augur, Lisk, MonaCoin. You can pick absolutely any coin in top 100 and it would have given equal or more return than Bitcoin condition being you have chosen the entry point right. May be its time to rethink your crypto investment strategy?
If you are newbie, I recommend using Binance exchange for these smaller coins. Here is my post about the exchange: https://steemit.com/binance/@altcoinrich/binance-exchange-more-than-just-low-transaction-fee.
You can use the below link to create an account: https://www.binance.com/?ref=11222692