Are you interested in investing in cryptocurrencies to make big profits? you are not alone! Investing in cryptocurrencies has captured the interest of many people looking to grow their wealth. But before you dive in, it's important to understand some basic points.
In a recent YouTube video by Brian Jung, he discusses how investing in cryptocurrencies has changed and what you need to know to succeed in today's market.
Here is a simplified breakdown of his visions!
Get Bitcoin ETFs to get traction
The recent approval of exchange-traded funds (ETFs) is a big deal in the cryptocurrency space. This means that large investors, such as institutions, can more easily invest in Bitcoin. This could bring a lot of money into Bitcoin and other cryptocurrencies, changing the way the market works. Young suggests monitoring how these ETFs impact the market.
Bitcoin dominates the cryptocurrency market by 52.2%, and the market capitalization is $1.88 trillion, an increase of 3.53% within 24 hours.
The next 2-3 months are crucial
Furthermore, another important aspect highlighted by Young is the upcoming Bitcoin halving event. This event, approximately every four years, reduces the rate at which new bitcoins are created, leading to increased scarcity. Historically, all previous Bitcoin halving events have given significant returns. Young advises investors to keep an eye on this event, as it may indicate bullish momentum for Bitcoin. The next halving is expected to occur in the next two to three months, so investors should stay informed and ready to take advantage of the potential gains.
Focus on altcoins with medium to low value
But how can you make 10x profit? Experts call for focusing on medium and low value tokens to maximize returns in this dynamic market. Unlike established cryptocurrencies like Bitcoin and Ethereum, which have already seen significant growth, these small cap tokens offer more room for exponential upside.
For Bitcoin to reach 10x, its market value would need to increase tenfold, which would require a significant influx of funds.
Exchange tokens like CRO and OKB show promise due to their association with cryptocurrency exchanges, offering benefits such as low fees and revenue-sharing models. In addition, top-tier projects like Solana have strong performance, especially in the infrastructure and related tokens. However, it is necessary to treat such investments with caution, as they also carry higher levels of risk.
A great opportunity for altcoins to shine
Bitcoin's recent performance indicates a period of consolidation, providing opportunities to explore promising altcoins. Until Bitcoin crosses $50,000, we may see sideways movement with mid- and low-cap altcoins potentially booming.
