I am happy to see that bitcoin is once again above 60000 US $. It means that hodling has proved to be a good strategy.

Now I’m looking for something that could give me a 100X return. I know that it’s risky but I accept the possibility of loss.

So how do I choose?

There are thousands of alt coins. I search for those with a Market Cap of at least 1 Billion and a token value of around 1 cent. I then look at the exchanges used and the daily turnover, selecting only those that are actively being traded on reputable exchanges.

Once I have a list of possibles, about 4 or 5, I then read about the uses of each one. At this point it becomes a bit subjective and I choose one that I like.

I then buy a bit and put it into a wallet.

Next I ignore it and wait and see.

I sometimes gain but have never had 100 X increase in value. I have also lost but I’m more likely to gain in the wake of an increase in the price of bitcoin.

That’s it!

The crypto world is full of opportunity, opportunities to strike it rich and opportunities to lose a lot of money. The problem is to know what to do.

The control of money rules human activity, so there are huge numbers of people wanting to jump onto the bandwagon of easy money through crypto. The easy money idea is great but it is never guaranteed, it mostly comes with the luck of owning the right crypto at the right time and then selling at the right time.

The easy money idea is thwarted by our own greed and emotional involvement. We FOMO in as soon as free money seems to be on the horizon, like Dogecoin, where many people bought huge amounts after it had gone up. The extra buyers put further upward pressure on the price, increasing the FOMO induced purchasing even further.

It’s easy to find people online explaining how they got rich through buying Doge but not many are willing to admit how much they lost by buying at the top and watching its value drop. They perhaps had not realised that the price rise is fueled by new fiat money coming in, so when others sell their Doge and remove the money, prices drop.

I watch the daily fluctuations in the coins at the top of the market capitalisation tables. The prices have being going up and down like a yoyo recently but I have found that you have to monitor them constantly to make a profit over and above the costs of trading.

My decision for the moment is to HODL what I have and only sell when a coin gains more than 100%. Life is less stressful and it seems to me that having some crypto is important to be able to gain in the longer run.

So I HODL a selection of different coins and try hard not to suffer from FOMO.