How to Maximize Your Profits: 10 Tips From Crypto Analyst Lark Davies

On Wednesday (March 1), New Zealand-based crypto analyst and influencer Lark Davies shared ten steps for successful investing in cryptocurrency.

According to Davies, the first step to investing in crypto is to get your finances in order. This means spending less and finding ways to earn and save more so that you can invest more in the crypto market.

The second step involves a steep learning curve, as Davies advises aspiring investors to learn everything they can about cryptocurrency. Understanding different chains, on-chain data, and emerging themes are crucial, especially if you want to invest beyond established coins like Bitcoin and Ethereum.

Davies encourages investors to become a “hunter of free shit.” This means taking advantage of free NFT mints, airdrops, and testnets. Investors can find life-changing opportunities by consistently testing different chains and experimenting with different strategies.

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Step four involves studying narratives and investing in emerging themes. Much of the gains in crypto are centered around narratives, such as AI, metaverse, and on-chain perps. Davies advises investors to get in early, before the narrative takes hold, and get out before everyone else screams “new paradigm of money.”

Timing is crucial, as Davies advises investors to buy fear, oversold technicals, and pullbacks and to admit when they’ve missed a train and wait for the next one. Investors should also find a niche and stick to it, experimenting and learning as much as possible about their chosen area.

Davies also advises investors to rebalance their investments and take profits when low-cap altcoins pop off. Maintaining crypto exposure is important, but investors should dump profits into established coins like Bitcoin and Ethereum.

Finally, Davies urges investors to take profits and avoid holding on for too long. Most investors lose money by watching their coins plummet. By taking profits and making real gains, investors can protect themselves against losses and continue to grow their portfolios.

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• Source: https://www.cryptoglobe.com/latest/2023/03/crypto-analyst-lark-davies-explains-how-to-go-from-zero-to-100000-with-crypto/