How to Adopt a Millionaire Mindset to Earn High Profits Through Bitcoins?
Every crypto enthusiast dreams about making an investment in bitcoins so that they can earn high profits. But, earning high profits by using bitcoins is not an easy task.
With lots of bitcoin investors budding every day, the chances are a; ready against you. Thus, you will need to adapt to a millionaire mindset to earn high profits through investment in bitcoin.
This article will serve as a guide to you so that you can easily use the best ways to get a high return on investment by investing in bitcoins.
We will explain every bit of details you need to know and not to be swindled by short-term gains.
The strategies provided here are for educational purposes, and it can work differently for different types of users. You can register to a website that offers more information on this.
The logic of doubling down
Most investors think that to earn millions through bitcoins; you will have to wait for years. But, the process of doubling down can make the task easier for you. You will not need more than nine or ten doubles to reach up to millions. Let’s take an example. To reach down to millions, you will have to follow the following doubling down formula:
$1000= > $2000
$2000= > $4000
$4000= > $8000
$8000= > $16000
$16000= > $32000
$32000= > $64000
$64000= > $128000
$128000= > $256000
$256000= > $512000
$512000= > $1024000
You will need to follow just ten doubles to reach more than a million. This means that with an average of ten doubles, you will easily increase your portfolio more than a thousand times. The process of doubling down is pretty simple and straightforward. But, you will need the right strategy and best risk management skills to get the best results.
In addition to this, always keep in mind that your main goal is to double down your portfolio.
If you follow a proper strategy and risk management, no one can stop you from doubling your portfolio within ten steps.
You can also get knowledge, information and better skills by watching YouTube videos and by following different other platforms like websites and social media platforms.
Choose the right strategy
It is very important to choose the right strategy if you want to earn profits through bitcoins. The first two strategies that we will use will be better for the bull market, and the last one will be suited for the bear market.
With maximizing the use of margin trading, you will need some amount to borrow. To summarize, each percentage point gained is multiplied by the number of times you are using your holdings. Let’s take an example to understand the method wisely. To get ten times leverage, you will need to 1% chance to get 10% change. If the market moves another way round, each per cent lost is also multiplied. The higher you will leverage, the better the chances of liquidation you will get.
Dollar-Cost Averaging means that you will need to purchase bitcoins on a regular and recurrent basis. The buying schedule can be daily, weekly, monthly or annually as per your preference. But, the schedule will remain the same. The Dollar Cost Averaging is regarded as one of the safest methods. This also helps the investors to get attached to their investment emotionally.
Buying the dip
This means buying an asset after the price has declined. Buying the dip options works well for those investors who are disciplined and understands the investment very well.
When a user uses a short term strategy, they are anticipating a growth in the price of bitcoins. Short trading can be pretty risky when it comes to bitcoins. Thus, if you are skilled and knowledgeable enough, the short term trading can be useful.
Pick an exit strategy
Most people know how to enter the bitcoin market, but they don’t know when and where to exit. Thus it is important to know about the time when you want to enter the crypto-asset markets and when you want to exit the market.
We hope this guide will help you to make an adequate profit by bitcoin investment. Thus, go through this guide and determine the best strategy to get maximum returns on investment.