How to make $100k with $10k in two years
Discover more from Your Crypto Community
How to make $100k with $10k in two years
I did it and you can too. This is your best shot. Nothing comes close.
Ask this anywhere in traditional finance, ask any investment firm or financial advisor and they will probably laugh at you or wonder how to extract some commission from you.
Did you notice how financial advisors that supposedly know how to invest money work 9 to 5 jobs that pay a regular salary?
Isn’t it ironic?
If they were really good at making money, they would not be working there in the first place. Don’t waste your money with that and read this newsletter instead. It’s free… let’s continue.
Here are two examples where I turned $10k into $100k:
2017-2018 bull run - bought 30k XRP at $0.30 in late 2017, didn’t sell at $3.3
2020-2022 bull run - bought BTC at $10k during the breakout in late 2020, decided to never sell BTC at $69k. Also bought ETH under $100 in March 2020 and sold at over $4k a piece a year later.
There are a few lessons above. Let’s explore them.
Guessing the top is hard. My own incentives to sell were not strong, apart from taking profit to buy lower later. I did sell the XRP bags for a nice profit, but not at $3.3.
Selling BTC at any price point will inevitably lead to regret. I know, trust me.
If you make life changing money, SELL. If $100k is life-changing to you, don’t hesitate and click that button. Then take at least a one year break from crypto.
If the market panics, buy. Buy when your friends laugh at you because Bitcoin is going to zero. Buy when there is blood on the street.
Cycles repeat. $10k today can mean $100k later in crypto.
Now you’re probably wondering… what should you buy today to turn $10k into $100k in two years?
The first, and obvious, answer is Bitcoin. However, that comes with a caveat. If you never bought BTC before, you will probably never have a chance to buy it at today’s price ever again (around $25k) past 2025.
In this context, should you even sell it later? That’s up to you.
I suggest you read my below post on the subject of BTC in 2025. Can it reach $200k by then? Sure. Altcoins next.
The problem with altcoins is two fold:
They present a higher risk profile versus Bitcoin
Most are straight up scams
Therefore, discerning between landmines and gems is not easy. It’s actually hard, really hard. The easiest answer for me would be to say buy Ethereum. It has a realistic potential to reach $10k by 2025, but beyond that, I’m skeptical. I am even wondering if it will pass $5k. Not exactly $100k if you invest $10k today.
Why?
Ethereum competes with 9,320 other altcoins in 2023. Bitcoin does not compete with any of them because it is in an entirely different category.
This does not mean you should totally dismiss altcoins. On the contrary, buy the winners. Ethereum is one of those, but I am not as convinced in can 10x your money in two years. Bitcoin has a better shot at that, in my opinion.
Plus, there may be a better set of altcoins that can 10x your portfolio. If you choose this route, DO NOT - I repeat - DO NOT invest $10k in only one altcoin. That can back-fire big time, especially when BTC gives you a better shot at it if you are to choose only ONE coin to deploy your capital.
What are some of those altcoins?
I already made a post on that. Check it out and see if you agree. Some examples include RUNE and LINK.
The only thing left now is to make a plan and decide. I believe buying in 2023 still carries a good risk / reward ratio if you aim to sell in 2025. Buying after 2023 may present more risk and less returns.
If you need help, reach out to me - links below. Good luck!
P.S. This is not financial advice.