The cryptocurrency trading cycle that kicked off between 2019 and 2020 peaked in November 2021 and then retraced.
During this surge, one expert claims to have turned an initial investment of $40,000 into a staggering $10 million by speculating on altcoins.
Michaël van de Poppe shared this journey on September 27, encouraging his audience that significant profits are possible in a bullish market. He stated that “extraordinary gains” can be achieved, asserting, “If I can do it, you can do it too.”
His impressive return of 250 times the original investment stemmed from savvy trading and precise timing in the altcoin market, alongside benefits from staking for compounded earnings.
However, van de Poppe cautioned that accurately timing the market is complex, even for seasoned traders. Effective decision-making improves with more data and time in the market, as traders look for signals that indicate potential price movements while avoiding risky scenarios.
Although some metrics can provide insights, they can be easily manipulated, highlighting the importance of basic security practices to safeguard against scams and phishing attempts.
Staking within proof-of-stake protocols and the DeFi space offers enticing opportunities for informed investors. By locking a portion of their assets, users can generate returns, whether by staking native tokens or providing liquidity to Automated Market Makers (AMMs) and lending platforms.
Looking to the future, van de Poppe and several analysts have hinted at a forthcoming altseason in 2024, where smaller altcoins may outperform larger cryptocurrencies.
Cryptocurrency exchanges that introduce altcoins may find themselves trapped in an endless cycle of listing speculative tokens, particularly memecoins, warns Alex Leishman, CEO of River Financial.
Pi Coin has experienced a dramatic decline in value, shedding around 70% from its peak price.
A significant loss has been recorded by an Ethereum whale, as revealed by on-chain data shared by The Data Nerd.
The downturn in the digital currency market has finally caught up with Pepe Coin, as recent activity from one of its major whales reveals a large selloff, casting a further shadow on the token’s future.