People don’t realize how massive the cryptocurrency market is. But they also don’t realize one other critical truth. I’ll explain both in this newsletter as a preview of what I’ll cover in my LIVE workshop this afternoon.
Top Crypto Trader Warns: “STOP Buying Altcoins!”
Altcoins are one of the most popular digital currency investments in the world. Their low cost and explosive potential makes traders’ mouths water. But buying them can be a massive mistake, as crypto genius Jeffry Turnmire will explain in a special FREE workshop on Thursday, March 31 at 1:00 PM ET.
Let me show you an image and then explain it to you:
This is the top bar of coinmarketcap.com.
It’s a valuable website for crypto investors and traders, you should add it to your bookmarks bar.
But for our purposes today, I want to focus on the left side.
There are 18,611 cryptocurrencies in the world as I write this. There’s a good chance that by the time you’re reading it, there will be 18,612 or more.
How many cryptos can you name?
If I tried really hard, I could probably get to 25… maybe 50?
And I study this stuff all day.
Maybe some of you are crypto obsessed and can get to 100, but I honestly doubt it.
The point is that the vast, vast, vast, vast majority of those 18,611 cryptos are absolutely worthless.
They’re either complete scams, or jokes, or so specific as to be practically worthless (I once read about a digital currency specifically designed for dental practices to pay one another their debts. Might be useful for them, but it’s not gonna make you the next George Soros).
And yet, so much of the focus of crypto trading is on these tiny, worthless coins.
Everyone wants the grand slam home run, the crypto they can buy for pennies, or even fractions of pennies, right before they grow 1000s of percent.
But those success stories are extremely rare.
Meanwhile, there is a much higher probability strategy right under everyone’s nose.
Let’s look at that image again, and this time, look at the right side:
The “dominance” number shows the percentage of the crypto market controlled by just two coins: Bitcoin (BTC) and Ethereum (ETH).
Combined, BTC and ETH dominate more than 60% of the market!
Let’s run that back one more time:
Bitcoin + Ethereum = 60.6% of the market
All 18,609 remaining coins combined: 39.4% of the market
Now, if your crypto trading strategy ignores 60.6% of the crypto market, it’s probably not incredibly worthwhile.
The reality is there is a much higher-probability way to trade crypto, focused on the “mains,” with targeted trades on lower cost but stable coins (not crazy scams).
Jeffry Turnmire and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
Daily Profit Publishing and Jeffry Turnmire do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.
We are not licensed to provide you personalized investment advice. Nothing in these communications should be construed as personal investment or financial advice.
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