In a recent tweet, the renowned crypto investor and influencer, Lady of Crypto @LadyofCrypto1, shared her journey from a modest investment to amassing $1 million in the crypto market. As the highly anticipated halving approaches, she has graciously unveiled six invaluable tips that propelled her to success. If you’re looking to join the ranks of crypto millionaires, these are the guidelines you can’t afford to miss.
Buy Hype: The influencer emphasizes that during a bull run, traditional fundamentals may take a backseat. She advises investors to focus on tokens that generate significant buzz through effective marketing, even if their underlying technology or tokenomics aren’t optimal. By identifying and purchasing these hyped tokens early on, she claims that remarkable gains of 50x-100x are within reach.
Don’t Sell Too Early: She urges patience and restraint when it comes to selling. Given that we are still in the early stages of the bull run, she advises investors to take modest profits and allow winning positions to continue growing for at least another 12 months. However, she cautions that if you’ve invested in hyped tokens and have seen substantial gains, it may be prudent to take profits more aggressively as hype tends to fade rapidly.
Accept Being Wrong: Making incorrect investment decisions is inevitable. Rather than clinging to underperforming projects throughout the entire bull run, she advocates for recognizing when a project isn’t delivering the expected results. In such cases, she advises selling and reallocating funds into more promising opportunities.
Take Time Away: Becoming fixated on charts and crypto prices can be counterproductive and lead to burnout. Lady of Crypto stresses the importance of taking breaks and stepping away from constant monitoring. By refreshing your mind and returning with renewed focus, you can enhance your productivity and decision-making abilities.
Don’t Use Leverage: She strongly advises against engaging in leverage trading, emphasizing that 97% of leverage traders end up losing money. She warns against the allure of gambling through leveraged positions, highlighting that exchanges have designed this feature to profit at the expense of traders. She firmly believes that making millions in crypto is possible without leveraging and discourages its use altogether.
Degen Portfolio: Recognizing that crypto investments inherently involve risk, Lady of Crypto suggests striking a balance between risk and safety. She advocates for maintaining a diversified portfolio with a portion dedicated to more speculative and higher-risk investments, commonly known as a degen (degenerative) portfolio. While allowing for exposure to potentially lucrative “shitcoins,” she advises safeguarding the majority of capital in less volatile assets.
Shes hope that these six tips will lead others to immense wealth during this bull run and It’s important to note that investing in cryptocurrencies carries inherent risks, and thorough research and caution are essential when making investment decisions.
