For a newbie, you should learn about bull and bear market cycles. Currently investing in the market is quite risky and it may not yield good returns or losses.
If a person invests in early 2018 then in early 2020 the value of their investment amount can decrease by up to 90%.
Right now the market is hot so don't expect much. Be careful with what you buy because you are a latecomer.
I have a pretty good idea about bull/bear markets, I do agree with you that we are in a bull market right now and it's going to be a dip soon in the the market. But I think that in the long term , 3-5 years, crypto is a bull market and it will grow even more once the crypto becomes mainstream and gets regulated by the authorities. I thought I was a late comer when Bitcoin was 250 dollars, and I didn't invested then, I'm willing to take the risk now.
I have also quite similar idea and for this idea I am looking also around for about a week.
I was more looking into a coin that could go maybe 1000x. But at the moment trust issues are there as creating a coin is very easy and dumping for about 50k can be very lucrative.
Energy and transaction efficient coins could take a step more. As I understand NANO is good in this, but there are more, which is leading I do not know.
Community and hype are important.
1000x will be amazing but is hard to find that one coin that will do this, like shiba did. I also heard about NANO that is more energy efficient and even faster than bitcoin at transaction speed but it has some issues with security and it have never been tested at the bitcoin transaction level.
Sorry for posting in the wrong section. This is my first post here and this forum is really huge, I will look more carefully next time I post.
Don't worry about it, most people here in forum new or not somehow gets mistaken and that's a fact.
That's too much option better to list at least 10 potential project so you can maximize your profit. I have to agree that most on the top position moves slower compare to other projects, if you're a risk taker and already knows how this market works, then you can try joining the hype on Meme coin and make an easy money if you're lucky enough buying a hidden gem. $800 is already a great capital to start with, also clarify your terms and goal in cryptomarket, know either to play long or to do short trading.
I think he/she was just diversifying in a whole new level thing and I think it wasn't too much and besides he/she got a huge money to put into these coins/tokens. I wouldn't recommend that meme coins for sure it's a hype this year but I think this will die later this year too. Not because DOGE the meme king coin was surging up doesn't mean these other meme coins/tokens will do the same, that just some FOMO.
I guess he already mentioned that he want to put this investment until two years and hope he can wait until that timeline he/she just sets.
Yeah, I want to diversify and wait for a moonshot for 2-3 years. It may never happen and loose some of the money, but I dont think I will lose more than half anyway, and is a risk I'm willing to take.
If your assuming 50x to 100x profits then must put investment to the trusted coins in the market. Not on some alts that showing good potential because mostly cannot succeed. So you better change your point of view.. Educate your self also because it can help when it comes to such situations. Perhaps you will not declare a decisions afterwards if you make a research on your own before investing..
I will also invest in some of the trusted coins in the market like cardano,pollcadot and ether, but the biggest chink in the money will go in altcoins hoping for a moonshot. You are right about studying more about the market, but looking on the market right now and at the complexity of the projects behind is really hard to anticipate how a coin will go even if you read every whitepaper a coin has.