I knew a lot of you were interested in cryptocurrencies, but the response from my 2020 Crypto Millionaire Summit: Last Call has been through the roof. (You can view it here, while it’s still available.)
When I explained the massive catalyst that is just a few days away – and the life-changing gains that occurred the last two times this event happened – you and your fellow investors wanted to know more.
Not surprisingly, I’ve received a lot of questions, which I completely understand. Bitcoin has been around for 11 years now, but it’s still considered new and not well understood by a lot of people. And altcoins, which are a bigger opportunity, are even less known and understood.
I now realize just how many of you want in on the opportunity that’s directly ahead but are still a little hesitant. You’re researching cryptocurrencies and trying to learn more.
That’s smart. You should learn as much as you can about all your investments. You should ask as many questions as needed to understand where your hard-earned money is going and make sure you’re comfortable.
With that in mind, I want to take a moment today to answer a few of the most frequently asked crypto questions I’ve received in the last week…
Q: I don’t really understand the halvening you talk about. Can you please explain it more?
Let me first remind everyone that the “halvening” – or “halving,” as it’s also called – is the big upcoming catalyst I just mentioned. It’s scheduled to take place in about five days, and this is one appointment that won’t be canceled or rescheduled. It’s hard coded into bitcoin’s software. We know it’s coming. And yes… you really can make as much money as we talked about.
Second, it may help to think of bitcoin and cryptocurrencies as software programs. That’s really what they are. When you invest in bitcoin and cryptos, you are investing in some of the most valuable software ever created: the blockchain. This technology is transforming the financial industry, how we make transactions, and so much more.
Now, as far as the halvening itself is concerned, let me boil it all the way down to the basics for you. You don’t need to understand the whole concept of mining bitcoin and how it works. You don’t need to understand the rewards miners get. Here’s the key to it all:
In a few days, the supply of new bitcoins coming onto the market will get cut in half.
Basic economics tells us that reduced supply results in higher prices, especially in something with strong demand like bitcoin. Bitcoin’s own history verifies this, as the cryptocurrency surged in value after the first two halvenings.
Q: Even with bitcoin’s halvening, it sounds like you don’t think I should buy it. Why not?
I absolutely think bitcoin will move much higher in the coming years. In fact, I’ve written a special report called “Bitcoin $100,000: Digital Gold of the Future.”
Bitcoin at $100,000 would mean 1,000%+ gains from current prices.
I’d take that, and I’m guessing you would, too.
I own bitcoin myself. I’ve recommended it in my newsletters.
But I am also saying that a newer class of cryptocurrencies called “altcoins” – alternatives to bitcoin – is an even better opportunity. Much bigger, based on history. I go into quite a bit of detail in the 2020 Crypto Millionaire Summit: Last Call.
Q: It’s hard to see how I could really make 1,000,000% on my money. Is that even possible?
I can’t sit here and tell you that it will happen. No one can. But I can tell you that it’s happened before.
Some altcoins did exponentially better than bitcoin following its halvenings. After the second halvening in 2016, an altcoin called Verge shot up 1,362,400%. That would have turned $5,000 into $68 million in just 12 months.
I’ve been investing for nearly 20 years now and have enjoyed some big winners, including many 10-baggers. They’re cause for celebration, for sure. But a 13,600-bagger is out of this world.
Being more conservative, an altcoin called Litecoin soared more than 7,000% after bitcoin’s first halvening in 2012.
It’s important to realize that altcoins aren’t “online fantasy money”… or a substitute for the dollar. They’re early stage ownership stakes in fast-growing software.
Q: Can I buy and sell cryptocurrencies through my brokerage account?
The number one question I receive from people interested in cryptocurrencies is how to buy and sell them.
This mega-trend is still in its early stages, so you cannot yet log into your online brokerage account and place a buy order for bitcoin. I believe you will be able to soon, but for now it requires a few additional steps.
But that’s okay. It’s actually a great thing when buying an investment requires a little more work. You know that extra work is keeping millions of people away from the opportunity… so you can get a much better deal… and set yourself up for much better profits.
There are a variety of cryptocurrency exchanges on the market, but the place to start is with one of the most widely available (in the U.S.) and easy-to-use exchanges: Coinbase. Coinbase allows you to purchase many cryptos with a credit or debit card or through a wire transfer, and it stores the crypto for you.
It’s definitely doable and worth a little extra effort given those potentially life-changing returns. I’ve put together a special report for Ultimate Crypto members that walks them through the steps of setting up an account.
Q: Are all altcoins set to go up as much as you’ve described?
No, no, and no.
This is critical. If you take away one thing from this article, I hope it’s that you shouldn’t just go out and buy any altcoin and expect it to make you rich.
As with stocks, there are good cryptos and bad cryptos.
As with stocks, you need to be able to tell the difference between the two.
That’s why I teamed up with someone who knows the cryptocurrency market better than most people on the entire planet. Together, we created a proprietary 10-point system that grades altcoins. We identified the most important factors that predict future success and gigantic gains.
Our system analyzes everything from the size of the potential market for particular cryptos… to the strength of the team behind it… to risk and more.
Fortunately, there are some excellent opportunities out there ahead of the halvening, which is now just several days away. I’ve already recommended 10 altcoins, including four that we just added. And… I’ll be releasing another new recommendation this Friday – on May 8. You do not want to miss it.
Q: How does the COVID-19 pandemic impact altcoins’ potential?
The COVID-19 pandemic has been a tragedy we all wish never happened. But we will make it through this. In the meantime, the value of many of the hypergrowth investing trends I follow, like virtual doctor visits or artificial intelligence-powered drug discovery, will only grow because of the pandemic. In other words, our need for these technologies has only increased.
The same goes for cryptocurrencies.
Governments and central banks around the world are churning out trillions to support and stimulate the economy. The U.S. alone has already committed more than $6 trillion in economic relief via checks to citizens, loans and relief for businesses, state and local governments, and Federal Reserve actions. I’m predicting the total number will eventually add up to around $10 trillion, making it the largest stimulus package in our country’s history.
The massive stimulus underway also means governments are printing a lot of hard currency these days. It’s not a problem yet for the U.S. dollar as it’s in such high demand around the world, but over the long haul it could lead to inflation and currency debasement.
Not so with cryptocurrencies. Remember that some, like bitcoin, have a limited supply. No board of governors or politicians feeling the heat can intervene to make more.
Remember, the supply is fixed. This is one of the big allures of cryptocurrencies – they exist in fixed amounts and cannot be debased. That will become even more important over the coming decade. That’s great news for bitcoin’s profit potential, and even better news for the best altcoins.
I hope this helps answer some of your questions about cryptocurrencies, the halvening, and the opportunity directly ahead. Keep the questions coming. I want to make sure you have all the information you need about what is setting up to be another one of the fastest wealth-creation events in modern history.
P.S. The next halvening is just days from now, so time is of the essence. Given the explosive gains in cryptocurrencies the first two times this happened, I’m here to tell you that people who invest modest stakes now could make millions of dollars.
My team and I dedicated the past few months to crafting a 10-factor system for picking cryptocurrency investments. One of my new recommendations just “uplisted” to a major crypto exchange owned by the billionaire Winklevoss brothers… something only bitcoin, Ethereum, and a few others have accomplished.
I believe it could soar 10-fold or more from current price levels. Click here to discover how to find out the name and ticker symbol.
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