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10X+ Crypto In One Year

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2 weeks ago (Last updated: 1 week ago)

With all the volatility in the market I think it’s a good time to review the past year. When in doubt, zoom out. I’d like to share how I more than 10xed my wealth in the past year with cryptocurrency and some insights on this journey.

While I did more like 15x for my overall wealth, I settled on 10x+ when taking into consideration my continued investing and earning of cryptocurrency without giving my exact numbers. In the video, I share my Blockfolio/FTX portfolio tracking my growth crypto portfolio over the past year. The idea is to show you that while there be many drops and times of volatility, understanding where crypto is going and having high conviction in my investments is how I’ve weathered the dips.

 

As I point out, I’m sure many people will contest this with what I could have done instead, but cryptocurrency is already extremely risky, so my method has become play the game as safe as possible. I’ve mostly just invested in BTC & ETH and I think that was the right choice. We will see how things play out over the next month, but the beauty of these amazing cryptocurrencies is that I have high conviction they will still be the top 2 for many years to come.

 

El Salvador accepting Bitcoin as legal tender and everyone gearing up to buy $30 of Bitcoin was supposed to be good news, but then we saw a sell off which is okay. Again, this is a long term play and when we have volatility on the downside we also can see major volatility on the upside and that’s what you sign up for when you get into crypto from the beginning.

 

Whether you’re investing in cryptocurrency or investing in any asset, just make sure you apply the same good investing principles and go for the long term by dollar cost averaging in. Many people just throw in like $100 or even $1000 which is great, but you can’t make money without putting money in. If you turn $1000 into $5000 and then buy a new car, that’s nice, but you want to aim to build wealth for the long term, not buy a fancy toy.

 

I cover my rules for investing here: https://odysee.com/@ScottCBusiness:4/Investing:d  

Here is the breakdown for my investing and budgeting templates: https://odysee.com/@ScottCBusiness:4/If-You-Want-To-Save-Money:7  

Investing Spreadsheet Template Link: https://mega.nz/file/tTxwyKqB#rfTiKWibP_ur5F82JQUh7gDILI8Wpx_UbyrBuowmVGc

Income Tracking Spreadsheet Template Link: https://mega.nz/file/YXxWiShK#M5b1FwjtZxBErwHmUvFrQQzlnNsDY089XzutTKFZ4EQ

Budgeting Spreadsheet Template Link: https://mega.nz/file/pC4kxC4B#jwMG1lTlb1KCs7D43-XaSw0t-VSyWDq-W1ORiQevg0s

 

How’s your crypto portfolio doing? Are you bullish or bearish on crypto? What’s your Bitcoin prediction by the end of 2021? Let me know what you think about this in the comments below and don’t forget to subscribe!

 

*Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*

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Comments

It is really article... Thanks so much for the information.

$ 0.00
4 days ago

thankyou for the information

$ 0.00
1 week ago

We are in for a buzz in crypto. Nothing makes the ordinary person legitimately rich compared than crypto. That's one motivation that keeps me adding more to my portfolio on https://atomicwallet.io/ application, which supports multiple coins.

$ 0.00
1 week ago

Crypto for me is what I consider "a side game which potentially, done right, can make a nice new stash of cash." My mainstay continues to be the stock market. It's what I know, and it is where I have made most of my money. But that does not mean I do not have interest in applying certain investment principles I have learned from investing in the stock market to the crypto market.

And the crypto market has not been unkind so far, despite its volatility.

So long as I have confidence that I can maneuver within that volatility, and UNDERSTAND the movements up or down, I can make wise decisions about what to do no matter what the direction happens to be.

I continue to add more to my positions, believing that in crypto, just like in the stock market, no one can TIME the markets. So, dollar cost averaging is what works best for me as well.

Thanks for another enlightening and informative article, sir.

$ 0.00
1 week ago

I think your successfulness in the crypto world have all come as a result of your investment plans which you had never been afraid investing in and doing so with such heavy projects like the btc and the ETH is really an awesome way to prepare a life of success thereafter. Kudos!

$ 0.00
2 weeks ago

"When in doubt, zoom out!". I love this. During the crazy roller-coaster ride of the prices in July (I think), this is what kept me sane. I started my BCH journey in January. So when the bear went amok, I "zoomed out" the graph and looked at it from the moment I started. If the day and week charts say it dropped let's say 40%, I still gained at least 50% from the moment or started. So, I held on.

BTW, you may say that your posts are not "financial advice", but for me, they are great financial advice, and I am going to treat your posts that way. Keep it up.

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2 weeks ago