A well-known crypto investor and firebrand who first entered the market in 2012 is laying out what it takes to spot parabolic bull runs before they happen.
In a new interview with Going Parabolic, Bitlord reminisces about the beginning stages of XRP’s rise, and how everyone doubted the asset before its first big breakout. When he first paid attention to it, he says the crypto asset was valued at $0.008, ahead of a 50,000% price increase that brought the coin to its all-time high of $3.84.
“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.'”
XRP isn’t the only crypto asset that Bitlord got in on early. Recently, he nabbed a front-row seat for the massive rallies in Polkadot (DOT) and Kusama (KSM). He says the process mirrors his strategy with XRP and exemplifies what traders should do to find promising investments early on.
“When it comes to trading, this year is a really good example. I waited nearly the whole year for a trade. I was waiting for the next macro trend, the next big thing. That’s how I’ve tried to focus on trading is finding these macro trends, invest in the market leaders and invest in the smaller subsidiaries. Let the market carry it. It’s going to do all the work for you. You literally just need to buy and hold…
I was looking for a like a blue-chip; something I could trust, I could really back and go solid on, something like Ethereum. It has the support, it has the infrastructure, it has the developers, it has all of the right money in the right places. And that’s when something like Polkadot and Kusama jumped up on my radar… I got a lot of close friends on that thing and we just smashed a 10x on that.”
Although he was once a big XRP bull, Crypto Bitlord has since questioned the future of the third-largest crypto asset and started a petition asking Ripple to stop selling its XRP holdings.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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