While the crypto market remains firmly entrenched in bear market territory, it does not mean this is the time to relax. Quite the opposite. The truth is that the work you are doing now will determine how much success you have in the next bull market.
This is how I’m using my “down” time to be ready to capitalize when things begin to heat back up.
One must look forward and not backwards. For me, that means ignoring the older gig ticket coins. The ones that had extraordinary pumps during the last bull run are not likely to have the same type of runs next time around. Projects like ADA, SOL, LUNA, and DOGE had spectacular gains already. I do not expect those coins to do significant multiples again as they are already large projects and are being outdated in terms of technology. For me, this holds true even with BTC and ETH. I just don’t see them doing huge jumps moving forward.
Instead, look to promising new projects with microscopic market caps that have the ability for home run potential. One favorite of mine is $CBD. With a marketcap of less than four million dollars and real world utility in helping hemp farmers to be able to expand their wares, it could easily do an x100 and still be under half a billion dollars in total value. Find these types of tokens now to really see explosive gains in 2023 and beyond.
Let’s face it, it sucks when token values plummet, but as long as you don’t sell at a discount, you have not lost anything yet. Since I generally only invest in projects that I have strong long-term conviction in, I’m content to HODL in expectation the prices will eventually recover.
At the same time, with prices down on everything, there is incredible value all over the board. Numerous coins that literally cost pennies at the moment will be some of the most valuable projects two to three years from now. The good thing is that you can secure decent sized bags on a variety of different projects at a very low cost. See below for some of the ones I’m currently evaluating.
If you follow my writing, you know I am a huge fan of passive income and crypto staking. This is probably my favorite way to profit while the market is relatively slow in regards to price action. My strategy remains the same. If I have projects that offer great utility and a strong staking APY %, I will continue to enjoy the rewards. Because prices of most projects are so attractive right now, it makes sense to accumulate staking rewards but not to sell just yet. Instead, I am accumulating larger positions in my chosen projects by reinvesting my rewards. My favorite staking projects right now are DAG, CBD, VRA, ADS, and BIOFI.
This is how my portfolio is currently situated.
These are the largest holdings in my portfolio and constitute approximately 70 percent of my investments. I choose them for the value I see in terms of utility and ability to multiply significantly in value over the next few years. Also, most of these offer staking options which increase their attractiveness to me.
DAG
LTX
CBD
VRA
MNW
ADS
BTC
QNT
BIOFI
These are projects I currently hold small positions in, but am continuing to opportunistically accumulate
ROUTE
AZERO
FLUX
CPH
SAITO
TRIAS
JCO
When there is uncertainty in the market, it makes sense to keep some of your powder dry in stablecoins. Not only do they give you price certainty, but you can also earn a decent APY% on them depending on the exchange you hold them on. Additionally, having some assets free gives you a great chance to scoop up values when prices drop unexpectedly. These are some projects I am performing due diligence on to see if they fir my general criteria.
NOIA
LORDZ
CHNG
LCX
OBS
No matter how many times Bitcoin and Cryptos have been counted out, the market has always responded with huge comebacks. That’s why, in my opinion, you can generally ignore the “experts” all over Medium now once again throwing dirt on the grave of cryptocurrencies. Especially the ones who argue that the space has no effective use cases. Numerous projects being designed to be part of Web3.0 are set to offer incredible value to users.
Also, if you look at how many huge institutions are throwing their weight behind crypto and blockchain technology, you would know they see the magic in the technology and are eager to capitalize. Look at the large banks like Deutsche Bank, Wells Fargo, Citigroup, Capital One, Barclays, Credit Suisse, UBS, Bank of America and BNY Mellon who are all hiring aggressively to staff up their crypto divisions. Better yet, take the world’s largest asset manager, BlackRock, who in the past month has announced the creation of a spot Bitcoin private trust offering. Or Fidelity who has declared they will soon let their 401k clients begin to add cryptos to their portfolio. These powerhouse firms know that it is not an “if”, but a “when” in regards to cryptocurrencies coming back into prominence.
So, if you want to make a fortune in the next crypto bull run, you would be wise to follow their lead and start preparing today. I know that I am!
Then continue to follow me as I share insights about the hottest new strategies I am experimenting with. I have been recognized as a Top Writer in Investing, Bitcoin, & Life. I would be honored if you would continue to support my writing by becoming a Medium member.
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