I don't have much technical understanding either. But I've been observing crypto for a while now.
BTC went from $300 to $3,000
ETH went from $30 to $300
LTC went from $3 to $40
I missed the BitCoin train, I missed the Ethereum, but I took the LTC train.
If you think in central bank money ( fiat ), then LTC gave you the highest profit. And you can also make good money with seemingly worthless currencies like DogeCoin, ByteCoin and the likes. They are cheap to buy, meaning there is practically no risk involved. You buy a good amount for very little money and just hold on to it. Let's take DogeCoin for example. I don't know the exact price, but let's say it's $0.001. You buy 10,000 DOGE for $10. The risk is that you loose $9.99 max. It will never go to zero, because then somebody would buy ALL of them, driving the price up.
But let's say it goes up from $0.001 to $0.01. You made $90. If for some reason it goes up to only $10, you made $99,990.
The assumption is that people will try to catch the smaller trains. BitCoin has already left the station. Compare the odds:
If you buy $10 worth of BitCoin and it goes from now $2500 to $5000 you make $10.
In order for you to make $100,000 with BitCoin, it would have to hit $250,000. But once that happens, you know that a can of coke in your local grocery store will be costing at last $1000.
And the more people realize that these are the trains to freedom from central bank currencies, the more people will jump on whatever train will be available.
That's why I always just sell one third of my coins once the price is three times what it was when I bought it. That gives me my original investment back and I buy some other coins.
Within two months I sixfolded my original investment that way. And if everything goes wrong I lost $10. I think that's OK. If only one of these currencies just goes over $10 I made it.
And if you want to start without investing anything, here's some sort of instruction manual. It gives you $10 worth of BitCoin on CoinBase when you sign up.
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