- Crypto Bitlord identifies macro trends as part of his strategy to identify highly profitable cryptocurrencies.
- According to the analyst, Polkadot and Kusama could be projects with great potential.
The early XRP investor, Crypto Bitlord, remembered in the 70th edition of Going Parabolic the days before the all-time high of the Bitcoin price and spoke about his experience in identifying trends and crypt currencies with the potential to achieve exorbitant returns.
Crypto Bitlord entered the crypto market in 2012 and was one of the investors who bought the digital asset XRP for $0.008. At an all-time high, XRP rose 50,000% to $3.84. The investor said that before this rally, the community focused its attention on individual aspects of the fundamentals that make up the value of XRP:
It was going through all of that period of everybody just, all the Bitcoin people just hating on it, destroying it, slandering it left, right, and center, and I’m saying ‘Look, it doesn’t matter what you want to think of a banker’s coin. It’s the fucking dumbest thing I’ve ever heard. Just have a look at what they’re doing here. There’s some potential here. Back it.
Crypto Bitlord collects information, reviews, fundamentals, and other data that supports the value of an asset and its potential to rally. The investor stressed the importance of waiting for the right moment in the market. In addition, he considers the most popular tokens currently being traded to be scams. In reference to the growth of the DeFi sector on Ethereum, the investor added:
But the thing is that sometimes you trade these things. That’s how it is, if you want to make a living trading this stuff. Look at the stock market, there are scams there. The thing is, you have to know how to do it. That’s crypto, a lot of things are scams. Some people argue that XRP is a scam.
New projects with the same potential as XRP
The investor believes that the world is on the verge of massive adoption of Bitcoin, XRP, and other cryptocurrencies. Therefore, he has continued his strategy of looking at market trends at a macro level. The investor claims that market activity has been slow in 2020. Therefore, he has focused on finding a “blue chip” in new projects like Polkadot and Kusama.
Like Ethereum, these projects have features that make them stand out from the competition and help investors distinguish them from scams. For example, the investor claimed that these projects have community support, developers, infrastructure, and financing:
You’re really investing in the team, not just the idea. When you have a solid team, when you have something solid like Polkadot or Kasama you have little chance of losing everything. I call them blue chips. You can put money in there for a year.