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Your guide to the bull market is here!
Before getting wet in crypto, read this.
Everyone wants to get rich quick, but most get rekt quicker.
You are unprepared if this is your first bull market, but I am here to help.
Things will move fast and there will be many traps. As the market awakens, so do professional scammers. They love this period because they make a killing.
This guide contains some of my best tips to protect yourself and make better decisions.
TLDR with my top 10 tips is at the end. Let’s dive in.
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Here’s just one recent example of the latest scam coin
Elon Musk launched his own AI called Grok. It’s a large language model (LLM) just like ChatGPT. Not even a few days later, we have the Grok token. Created and launched by professional scammers.
Grok token has all the marks of a perfect scam:
Great name, full of hype thanks to Elon Musk
6.9 billion tokens = cheap price/token + plenty of tokens to dump on you
Absolutely no use case whatsoever (except memes)
The token pumped 30x and then dumped 70% when ZachXBT exposed the dev on X as a scammer. However, people were upset with Zach because his post crashed their bags. Question is why did they buy this scam coin? Because of greed. Greed is extremely dangerous in this space.
Moreover, Grok was listed on major exchanges without delay. If a token is on big exchanges it does not mean it is safe. Exchanges don’t focus on that. Their interest is to get as many users as possible paying fees (that means they will list anything that generates fees, including Grok).
The space is full of these examples and a bull market simply multiplies them by 10x. Some scams are really elaborate like the Terra Luna UST saga (I covered that extensively before the crash) that turned a $50 billion ecosystem to zero in the last bear market.
If you seek legitimate plays and not gambling, then you need to seek innovation and spot red flags easily. Below, I made two guides on that which will help you remove the trash hiding the real gems. But that is not all.
You need to do your due diligence! Buying what’s trending on Twitter won’t cut it. You know why? Because most people post about whatever is their biggest bag. They won’t tell you this of course.
This is why you need to spend some time before you click that buy button. In most cases, it takes only 10 minutes to spot a scam if you know what you are looking for. I listed all the key red flags in the below guide. Once you have your eyes on some good coins or tokens, it’s time to build a portfolio.
The size of your portfolio will decide your allocation. Basically anything under $10,000 means you should focus more on altcoins as they provide better returns during a bull market. Note that they can also crash 95% in a bear market. You DO NOT hold altcoins long term! You only speculate on them and sell them when they provide asymmetric returns.
If you have more than $10,000 or over $100,000 to play with, then your priority is to PROTECT your wealth and slowly grow it. In the crypto world, that means only one thing: Bitcoin. For such portfolios, make sure BTC has an allocation of at least 50% or more as indicated in my below guide. Can a bull market 10x your portfolio? Sure!
This bull market barely started and some coins, like ATOR, already did a 20x. ATOR was on our community radar since it was at 10 cents (it reached $2 since). Kujira, which was one of my top selections for this bull market, already did a 10x from its lows. Evidence clearly shows it’s possible to 10x your portfolio. Now, even RUNE, SOL and LINK seem keen to do their own 10x.
My point is simple. A 10x is realistic in crypto during a bull market, a 100x is not. Bitcoin and other good picks can give you a solid chance at a great return. However, 99% of altcoins will give you a solid chance at losing your money. Which one would you choose from the below?
a 90% chance to 10x your portfolio
a 1% chance to 100x your portfolio
If you catch a few 10x coins in this bull market you’re a massive winner already and only greed would make you chase that 100x which is likely a unicorn. Play it smart and you can win big. In my previous post linked below, I gave even more examples on that. Now lets discuss targets.
Your most important charts in crypto are the Bitcoin chart, the Bitcoin Dominance and the Total Cryptocurrency Market Cap index. These tell you all you need to know about the market. You can also use Ethereum as a proxy for altcoins health.
In an nutshell, once Bitcoin moves above its current all-time high (ATH) of $69,000, the proper bull market starts and everything will go crazy. Instead of celebrating that event, you should focus and plan your exit. As soon as Bitcoin starts to reach or approach a new top, you need to secure profits as shown in my below posts. Most fail here as euphoria takes over, but you can be smarter. Let’s continue.
If you made lifechanging money, SELL. Full stop. “How can you expect me to sell when I just 10x or 100x my bag?”
Those profits are paper profits until you actually sell. Plus, DON’T buy another altcoin with those profits as the result will be the same. You will lose 95% of your profits due to FOMO and greed. What you do instead is sell and forget about crypto for 1-2 years. Keep your profits in BTC, gold or USD. Altcoins or silver don’t qualify since they can be easily diluted!
You buy in the next bear market. Easy right? Nope. Guessing the top is hard. Not buying again when things continue up is hard. You need to manage risk if you want to get rich and stay rich. I made a post on that as well and is linked below. This brings me to Bitcoin.
If you are looking for safety or a good investment, nothing beats Bitcoin. This applies particularly to anyone with six figures or more ready to invest or get wet in this bull market. Bitcoin has the best risk/reward ratio in the world right now.
Bitcoin is more than just money, it is a revolution of money. It is money 3.0. We went from gold to fiat and now to Bitcoin. It’s a global form of private money detached from government control and abuse. There is nothing to not like about it.
This is why I recommend you store it in a secure hardware wallet. This is about your own freedom on the path to maximize your quality of life. I wrote more on that below. Next, my key tips to summarize all of this.
TLDR & Tips to Remember
Bull markets bring about professional scammers ready to take your money
Greed gets you rekt, don’t chase it & plan ahead before FOMO takes over
Do your due diligence before you buy, it only takes 10 minutes
Don’t follow others, your interests may not align
Build a portfolio to generate wealth & to protect it!
A 10x is realistic in crypto during a bull market, a 100x is not
If you make lifechanging money, SELL. Period. Then wait!
You buy in a bear market, not at the all-time high
Manage your risks, get rich, then STAY rich with Bitcoin
Don’t forget about Bitcoin, the safest bet there is - always hold some BTC!
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