Like many of you out there, I have been burned by selling a cryptocurrency coin to early. How many of ya’ll had bitcoin when it was only $200? I did, and I had a lot of them…I probably had 30 at one time…which would have been worth something around $510,000 when Bitcoin was at $17,000. So all I had to do was hold onto it and do nothing, but why didn’t I? Well, at the time, I was actually using it as a currency and not an investment. I didn’t foresee Bitcoin rising to $17,000 or $20,000, I thought it would hit $1,000 one day, but then thought it would probably drop down again. Also, I had a lot of other investments at the time that I thought were “faster” ways to make some profits. I also held a lot of Ripple earlier this year that I bought for mere pennies. If I would have held it, I would have around $40,000 today. Not a bad profit for 1 small investment in 1 altcoin, but again, I sold it. Why? Well first, I already made a small profit and I started listening to the “gurus” saying that the coin would never reach $1.00 and if it did, it would take years so I decided that I would take my profit and possibly get back in it next year if it was still cheap.
What did I learn from these two instances?
Lesson number 1 is that you cannot trust what Wallstreet and all the cryptocurrency “experts” have to say because many times they are wrong. Lesson number 2: The way I was investing in cyrptos was not a systematic approach and I was letting my emotions get involved. Lesson 3: I was so set on finding the next Bitcoin or Ethereum that I would invest all my money in one coin instead of diversifying it into an altcoin portfolio. I was so set on making a half or full million off one coin that I missed out on making thousands or hundreds of thousands by holding multiple cyrptocurrencies.
So what is my plan now?
Well, I am a VBA Excel Analyst on the side and love working on new projects so last week, I developed a Cyrptocurrency Dashboard, if you will, which helps highlight penny crytpocurrencies which have possible potential to hit that famous $1.00 mark. Once it hits $1, I will cash out 50% and leave the other 50% for a long term position.
Here is the current conditions that I am using to find the next bitcoin, ethereum, Litecoin, or even Ripple
- Must be a few cents or less
- Must have a purpose, better technology, or something that sets it apart and makes it unique
- Must have a positive social following (Twitter followers, Reddit followers, positive active presence on bitcointalk, Slack Channel, Discord, or Telegram)
- Prefer the short term (3-6 month), but will also look at 1-2 years as well
- Looking for a trustworthy founder or Project Leader
There are currently 1373 cryptocurrencies on Coinmarketcap.com to search through (and growing daily), but I have built in many additional parameters to help highlight the next penny coin with potential. Once I identify a small coin with potential, I will add it to my portfolio and post a blog post on it. So if you are an avid altcoin investor like me, then follow this blog so that you don’t miss out on my recommendations.
If you’ve sold some coins before they shot up, tell me your story below in the comments section. I love hearing them.
I’ll be sending my first recommendation out later today. Cheers.
UPDATE….I’ve updated this post with links to my recommendations.
1st : Date recommended : 12/27/17 –> CLICK HERE
2nd : Date Recommended : 12/28/17 –> CLICK HERE
3rd : Date Recommended : 1/8/17 –> CLICK HERE