EASIEST Way to Make $1M In Crypto - SIMPLY EXPLAINED

Summary

In this interview, Virtual Bacon, a popular YouTuber and crypto analyst, shares his insights on the best strategies for making money in the current crypto market. He recommends focusing on major assets like Bitcoin, Ethereum, and Solana, which have strong long-term potential despite recent market downturns. Bacon discusses key altcoin narratives, including gaming, decentralized AI, and RWAs (real-world assets). He advises avoiding overtrading, maintaining conviction in core assets, and being cautious with newer coins. Bacon emphasizes capital conservation and psychological resilience as crucial for crypto success.

Takeaways

• 📈 The best crypto strategy now is to focus on large assets like Bitcoin, Ethereum, and Solana due to their solid track records, and they are undervalued after a long bear market.
• 💡 Build conviction in major cryptocurrencies, as they have established credibility, despite losing investor interest in recent times.
• 🔄 Bitcoin is likely to outperform Ethereum due to institutional demand, though Ethereum will maintain relevance in decentralized apps and other innovations.
• 🚀 Solana is poised for growth in 2025, with potential to reach $800, thanks to growing retail adoption, improved decentralization, and key upgrades like Fire Dancer.
• 🎮 Key verticals to watch for altcoin growth are decentralized AI, gaming, and meme coins, which have shown resilience over the past year.
• ⚠️ Avoid overtrading in the current market. Instead, focus on capital conservation as we may be entering the early stages of a bull run.
• 🛠️ Solana's ecosystem is improving, with better decentralization and scalability through upgrades like zk-compression, which could help Solana maintain its market share.
• 🏦 Layer 1 blockchains with strong tokenomics and retail adoption, such as Solana and Ton, are likely to continue seeing significant growth in the coming years.
• 🧠 Managing psychological resilience is key to surviving volatile markets; don’t lose conviction or get discouraged by short-term market fluctuations.
• 🔍 Undervalued narratives to explore include decentralized AI, RWA (real-world assets), and gaming tokens like Super and decentralized AI networks like BitTensor.

Q & A

What are the recommended altcoins to focus on for someone entering the crypto market now?

The recommended altcoins are Bitcoin, Ethereum, and Solana. The speaker suggests building conviction in these assets as they have been down significantly this year but remain strong choices.

Why does the speaker recommend Bitcoin, Ethereum, and Solana?

These three assets have proven their value over time, and even though many have lost conviction in them this year, they remain solid investments. The speaker believes they are well-positioned for growth after the current downturn.

How does the speaker compare Bitcoin and Ethereum in terms of future growth?

The speaker believes that Bitcoin will continue to outperform Ethereum in terms of liquidity and institutional demand. Ethereum has achieved institutional adoption, but Bitcoin still holds the majority of liquidity and demand from institutions.

What is the potential role of Solana in the crypto market going forward?

The speaker is bullish on Solana, stating that its adoption by retail users is growing significantly. Solana has performed well in terms of technology and adoption, positioning it as a strong competitor to Ethereum.

What key improvements does the speaker highlight for Solana's future success?

The speaker points to technological upgrades like Fire Dancer and zk-compression as key factors that will improve Solana's decentralization and performance. Additionally, the speaker highlights that Solana has improved significantly, with fewer downtimes compared to previous years.

What are the speaker’s price predictions for Solana in 2025?

The speaker predicts that Solana could reach around $800 by the end of 2025 if it maintains its current market share and adoption curve.

Which sectors in the crypto market does the speaker believe are worth investing in?

The speaker highlights several sectors: AI (Artificial Intelligence), gaming, meme coins, layer 1 (L1) blockchains, and RWA (Real-World Assets) coins as the most important narratives to follow.

What specific altcoins does the speaker recommend in these sectors?

For gaming, the speaker recommends Super (SuperFarm) for its strong supply control. In decentralized AI, BitTensor (Bittensor) and ASI (Artificial Super Intelligence) are favored for their potential.

What mistakes should crypto investors avoid to become successful?

The speaker advises against overtrading, especially during pivotal market stages like now, where capital conservation is key. Overtrading can also hurt investor psychology and lead to loss of long-term conviction in their assets.

How does the speaker suggest investors should approach long-term investments?

The speaker recommends maintaining long-term conviction in assets like Bitcoin, Ethereum, and Solana. They argue that holding these coins through market cycles will likely lead to strong returns rather than frequently trading and losing potential gains.

Outlines

00:00

💡 Crypto Investment Strategies: Bitcoin, Ethereum, and Solana

The discussion focuses on strategies for making money in the crypto market, especially for newcomers. Virtual Bacon emphasizes that now is an opportune time to invest due to the recent downturn in the market. He suggests building a portfolio with Bitcoin, Ethereum, and Solana, as these have proven to be reliable despite recent declines. According to him, these assets offer the best potential returns, especially if one is starting from scratch. He advises finding a few promising sectors or narratives within crypto and investing in large caps within those areas for better returns. The discussion further delves into whether Bitcoin or Ethereum is a better investment, with Virtual Bacon leaning towards Bitcoin for its resilience and dominance in the market, although he acknowledges the importance of holding both assets in a diversified portfolio.

05:01

🚀 Layer 1 Blockchains and Tokenomics

Virtual Bacon talks about his bullish perspective on Solana as an alternative to Ethereum. He highlights Solana's recent success in gaining retail adoption, with more users downloading Phantom wallets instead of the more common MetaMask or Coinbase wallets. He suggests that Solana is set to be a dominant player in the layer 1 (L1) blockchain space due to its combination of strong tokenomics and user adoption. Additionally, Virtual Bacon mentions other L1 blockchains like Ton (TON) and Caspa, which have unique strengths, such as strong tokenomics or user bases. He implies that a successful L1 blockchain needs to have either a large user base or strong tokenomics to thrive, citing examples of those that currently fit these criteria.

10:02

🌟 Solana’s Future Potential and 2025 Price Predictions

The discussion shifts to the potential growth of Solana, with Virtual Bacon giving a detailed analysis of the catalysts that could drive Solana’s price to $800 by 2025. He mentions Solana’s upcoming events, such as the Breakpoint conference, where major announcements are expected, and the imminent launch of 'Fire Dancer,' a new development that will further enhance Solana’s decentralization and resilience. Virtual Bacon emphasizes that the real advantage for Solana is its progression towards complete decentralization, which could make it comparable to Ethereum in this regard. He also suggests that ETFs (Exchange-Traded Funds) related to Solana could help propel it into the top three cryptocurrencies by market cap.

15:03

🌐 Identifying Undervalued Altcoins and Crypto Narratives

Virtual Bacon discusses different crypto narratives and altcoins that he considers undervalued. He identifies five major narratives: AI, gaming, memes, Layer 1 blockchains, and Real-World Assets (RWAs). He highlights that RWA-related coins have performed surprisingly well, outperforming even AI coins in the past year. For gaming-related assets, he singles out 'Super' as a standout performer. In the AI sector, he mentions decentralized AI networks like BitTensor and ASI as promising projects. He advises investing in projects with strong fundamentals and potential for long-term growth, rather than chasing hype. This detailed analysis provides insight into how these different crypto narratives could offer lucrative investment opportunities in the near future.

🎮 Gaming, AI, and Crypto Investment Pitfalls

The conversation wraps up with Virtual Bacon’s insights on gaming and AI projects that stand out in the crypto space. He suggests that Super, BitTensor, and ASI are among the top picks due to their resilience and growth potential. He then offers practical advice for avoiding common crypto investment mistakes, emphasizing the importance of not over-trading, especially during volatile times. Virtual Bacon cautions that every dollar lost could mean significantly more missed profits during a bull run. He advises investors to maintain conviction in their chosen assets and avoid emotional trading, which often leads to poor decision-making. He emphasizes protecting one's mindset and avoiding burnout to stay consistent and successful in the crypto market.

📈 Final Thoughts and Staying Educated in the Crypto Space

In the final part of the interview, Virtual Bacon shares his experience in the crypto industry and encourages viewers to stay educated and informed. He highlights his seven years of experience and his dedication to investing and producing educational content for the crypto community. Viewers are encouraged to subscribe to his YouTube channel and follow him on Twitter for regular insights. The interview concludes with a note of appreciation for Virtual Bacon's expertise and contributions to the crypto investment community.

Keywords

💡Bitcoin

Bitcoin is the most well-known and widely adopted cryptocurrency. In the video, it is recommended as a foundational asset for building a crypto portfolio. The speaker suggests that Bitcoin has institutional backing and is likely to continue attracting liquidity and maintaining its dominant position in the market.

💡Ethereum

Ethereum is a decentralized blockchain known for its smart contract functionality. The video emphasizes that while Ethereum might not outperform Bitcoin, it remains essential due to its institutional adoption and the growing ecosystem of decentralized applications (dApps). The speaker recommends holding both Bitcoin and Ethereum for a balanced portfolio.

💡Solana

Solana is highlighted as a strong competitor in the crypto space, particularly for its scalability and adoption by retail users. The speaker believes that Solana has the potential to rival Ethereum due to its user base, efficient performance, and upcoming upgrades like Fire Dancer, which aim to improve decentralization and resilience.

💡Layer 1 (L1) Blockchains

Layer 1 blockchains, like Ethereum and Solana, provide the base layer of infrastructure for decentralized applications. The video explores the competition among L1s, with Solana and others being mentioned for their performance, user adoption, and potential to challenge Ethereum’s dominance.

💡Altcoins

Altcoins refer to any cryptocurrency other than Bitcoin. In the video, the speaker advises caution when investing in low-cap altcoins, suggesting that large-cap coins like Solana or Ethereum have better long-term prospects. The video also covers the potential of certain under-the-radar altcoins in specific sectors like AI and gaming.

💡Decentralized AI

Decentralized AI networks are mentioned as an emerging sector within the crypto space. Projects like BitTensor and ASI (Artificial Super Intelligence) are identified as undervalued opportunities. These networks focus on using AI in a decentralized manner, offering an alternative to centralized AI systems, with a potential for future growth.

💡RWA (Real-World Assets)

RWA refers to the tokenization of real-world assets on blockchain networks. The speaker identifies this as an underappreciated narrative within crypto, noting that tokens related to RWAs have outperformed even AI coins in recent months. RWAs are seen as having significant long-term potential.

💡Fire Dancer

Fire Dancer is an upgrade for the Solana blockchain aimed at improving decentralization by introducing a new client built on a different tech stack. The video explains that this upgrade will address the issue of client centralization on Solana, making it more resilient and decentralized, similar to Ethereum.

💡Tokenomics

Tokenomics refers to the economic model behind a cryptocurrency, including its supply, distribution, and incentives for users. The video highlights how Solana, among other projects, has strong tokenomics, making it an attractive investment. Good tokenomics can help sustain price stability and encourage long-term adoption.

💡Institutional Adoption

Institutional adoption refers to large financial institutions embracing and investing in cryptocurrencies. The speaker mentions that institutional interest is heavily leaning toward Bitcoin, but Ethereum is also seeing significant institutional usage. This trend is seen as a major driver for the future growth of these assets.

Highlights

Start with building conviction in top assets like Bitcoin, Ethereum, and Solana, which have had significant downturns but remain foundational in the market.

Focus on larger market-cap cryptos like Bitcoin, Ethereum, and Solana rather than diving into very low-cap altcoins at this stage.

Bitcoin is likely to continue outperforming Ethereum due to increased institutional demand and liquidity flowing primarily into Bitcoin.

Ethereum has reached institutional status but may struggle to regain its all-time high ratio versus Bitcoin.

Solana is seen as a dominant player for retail adoption, with a strong ecosystem and unique adoption stories that other Layer 1s (L1s) haven't replicated.

Solana's upcoming advancements, like Fire Dancer, are expected to improve its decentralization and resilience, making it more comparable to Ethereum.

Layer 1s that have strong tokenomics or large user bases, like Solana or Ton, offer promising investment opportunities.

By the end of 2025, Solana has the potential to reach a price prediction of $800, assuming continued adoption and growth in its ecosystem.

Decentralized AI (e.g., BitTensor) and gaming assets (e.g., Super) are promising verticals to watch, especially for their sustained market performance.

Real-World Assets (RWAs) are an underrated crypto narrative, with certain tokens outperforming even AI coins in the past year.

One key strategy for maximizing crypto returns is to avoid over-trading, especially in times of market uncertainty, and to hold assets with strong long-term potential.

Protecting one’s mental state and psychological health is crucial in crypto investing; overtrading can lead to emotional fatigue and poor decisions.

For long-term success, focus on holding solid assets like Bitcoin, Ethereum, and Solana, rather than chasing newer or unproven coins.

Memecoins still have a place in the market, though careful attention is needed as these types of assets can be highly volatile and speculative.

Upcoming developments, including Solana's scalability improvements and potential ETFs, may push Solana into the top three cryptocurrencies by market cap.

Transcripts

what altcoins do you like that are

undervalued what crypto investing

mistakes should people avoid if they

want to get rich what is the best

strategy to make money in crypto today

this is the easiest way to make money in

crypto you will have a better chance of

being wealthy if you watch this

interview popular YouTuber and analyst

virtual bacon shares his top strategies

favorite altcoins if you want to make

money in crypto make sure you watch the

entire thing and make sure you subscribe

to altcoin daily for daily crypto

content just like this let's jump right

into it what is the best strategy to

make money in crypto today like people

come into this Market they want to make

money if you were giving a friend advice

what would you say is the best way for

somebody to make money in crypto I think

especially if you're coming in now it's

actually quite easy because of the time

we are in because of this long bleed

that we have had you can actually just

go back to the join board and start from

the top and allocate yourself in Bitcoin

ethereum

salana and just understand those and

build conviction in those especially

because actually a lot of people have

lost conviction in these three assets

this year which is pretty really

unfortunate time but the market just

gives nobody an easy lunch and so I

think if I were to recommend a friend of

mine to come into crypto build your

portfolio largely in Bitcoin ethereum

salana at this point they have been down

significantly since Q this year and then

after that find a few narratives and

sectors that have done well in the mini

bull run that we had in Q4 and q1 23 24

and then just allocate to M to large

caps in those categories because those

have still quite good returns from

current levels because of how how much

of chop we had this year I don't think

you need to look at very low caps at the

moment appreciate that straightforward

advice and as we're going

as my questions get you know lower and

lower down coin market cap you say that

you are still you think ethereum's story

is not over people are fading ethereum

right now but are you more bullish on

bitcoin or ethereum going forward how do

you think about

it Bitcoin versus

ethereum I I

think um I'm kind of torn I I don't

think ethereum will necessarily

outperform Bitcoin at this point it

probably will be a kind of fluctuation

if you look at the East versus BTC chart

like the

ratio it's kind of hard to argue that

that ratio will reach all-time highs

again because that's a kind of a big gap

at this point and as Bitcoin grows more

and more because ethereum is not going

to die first of all because it has

reached institutional status adoption

but we even see more recently like a lot

of these demands coming from

institutions they are heavily leaning

towards Bitcoin and some of these guys

like I think vck even made an

announcement that they don't have enough

demand for their ethereum ETF or

something so I think the status is there

ethereum is very safe in Regulators is

ETC but comparatively speaking you know

Bitcoin will just keep sucking up

majority of liquidity and then the ratio

of ethereum versus Bitcoin it's hard to

catch up so that's kind of my thoughts

on it Bitcoin versus ethereum if you

really had to pick one I'd probably pick

Bitcoin at this point uh but then again

you can't really replace ethereum

anymore so I think safe to say just have

all have both

and yeah ethereum is I I really wish it

has been been able to perform like

expected and thinking about ethereum

competitors either other l1s or even

ethereum L2 so I guess just like dap

Platforms in general what are other l1s

or l2s that you really believe in that

you're bullish on going into

2025 so I think the uh Saga of salana is

definitely not over it's one thing to

say that you know salana is very

performant but there are other chains

performant and you can manipulate price

or you know like have a narrative run up

uh you can do that to many different L

ones but the adoption number and

especially the kind of stories of new

retail coming in qana this year into

salana we have never seen before outside

of ethereum I remember like it's kind of

like a mini defi summer but just like

memec coin spring on salana and it

happened I have never heard people

actually downloading an app in crypto

and it's Phantom wallet instead of

metamask that's or coinbase so that has

happened that has never happened before

outside of ethereum so I think salana

will still be very dominant in the

retail adoption when it comes to other

layer ones my stance is like you either

have to be able to replicate some of the

success that salana has had in retail so

you need to have the user base already

or you are a L1 that has Superior

tokenomics and your token just does

superbly well even if you you don't

really have uh as many users so out of

those I think obviously people are

already on to ton Tong is the first case

having that user base already base is

very interesting obviously because of

smart wallets and how they integrate

coinbase users directly and then you

have like l1's like uh with just very

strong tokenomics Caspa everyone knows

the fair's launch with no pre-mine

having supplies just kind of go in those

two directions yeah I think those are

kind of what I'm looking at for ler ones

interesting it seems like your heart and

mind and wallet is with salana though is

that a fair statement yeah when it comes

to both sides like having the tokenomics

and the users and actually challenging

ethereum like it's

salana and yeah I saw a recent video you

put out very good it was something like

you're more bullish on salana than ever

and you gave a 2025 salana price

prediction can you kind of walk us

through like the catalysts I guess you

think is going to take salana and and to

what price you're thinking yeah so first

of all like breakpoint is just coming up

right after Singapore last week of

September and usually around breakpoint

they accumulate a year of announcements

so last year we saw salana have a runup

as well that will be a catalyst whatever

they're upgrading and and fire dancer is

right about to come and even though like

I think people kind of misread what fire

dancer is people say it's a kind of next

stage of scaling but at this point like

scaling is not an issue for Sal anymore

uh more reason like especially with DK

compression um I think Anatolia already

did the calculations you can put all the

transactions that you can make in terms

of defi Etc on every chain onto salana

as long as you do compression it's

already supported so scaling is not the

issue it's more of like running salana

completely decentralized and more

resilient and we have seen that already

turning around for salana this year like

there was only one downtime I think the

whole year like one day better than 2023

and 2023 was better than 2022 they're

clearly improving and then fire danc

will only add on top of that because

currently the only decentralization

problem on salana now is client

decentralization they only have two

clients one from sonon labs and another

from GTO but they're both based on Rust

programming language and so if rust has

a critical bug the both clients go down

and nobody can run the software so fire

dancer they're building uh using a

complete different text St complete

different programming language so then

once you have that salana really becomes

just as decentralized as ethereum the

validator account and the staking pools

the amount of Stak split across

validators is all already there yeah so

I think a lot to look forward to for

salana and coming up next year I think

once it it's able to solve this last

point of decentralization potentially

ETFs currently like those ETFs are kind

of getting a lot of push back but I

think it could come and that's kind of

the the end all to push salana to the

top three

status and let's say things in the

salana ecosystem goes right those things

uh do go well and salana continues to

onboard users and daps what is the price

prediction you're thinking I I think

around $800 that's my I don't remember

if it's optimistic or like conservative

based on the supply I think that's 600

million for total Supply by end of 2025

so it's like 4

point I can't I can't do math right now

but um but you

think yes that I think the calculation

was out of salana keeping the same total

market share of all crypto which is

around like 5% so 10 trillion based on

bitcoin hitting somewhere around 200k so

then as long as Lana keeps its current

adoption curve it's able to reach there

cool let's talk about other maybe lower

cap altcoins that you're bullish on and

I just give you an open-ended question

you can take it wherever you want you

know there's a lot of quality narratives

in the space today there's AI there's

dpin there's gaming I don't know which

verticals you're more bullish on you

said earlier that if you you know get

into some of the like the higher caps in

these verticals you think they're going

up what are the altcoins that you like

that are

undervalued yeah so I think the like for

the first time in like one year we

actually have like price differences

across these verticals you can find

truly the coins that held up well in the

past six months so the main verticals

like is honestly I think you need to go

obvious because everything is down so

just take the most obvious coins that

whenever you talk about it people

understand people like those narratives

to me those are like ai decentralized ai

is super important everyone knows gaming

with gaming Assets in game items Etc

like that's still the clearest adoption

curve and then memes they will still

have their place looking at what

happened this year and then layer one we

talked about and then the other one that

I think a lot of people are

underestimating is rwas even though

people don't use the word rwa as much

when talking about narratives when you

look at the performance of all the rwa

coins since o October November last year

most coins outperformed AI coins this is

like pretty shocking to me uh I'm not

even talking about like Ono or like

Mantra like those super high market cap

ones even the smaller ones that people

used to not care about at all I think I

had a list of like nine coins that I

looked at eight out of nine have done

like eight to 10x to the peak and then

kept like three to 5x gains since last

November that was like pretty shocking

to me so those are the five narratives

I'm positioning in and I think rwa is

kind of really uh under the radar right

now interesting and then if you were to

pull out a few uh specific altcoins and

in any one of those narratives what

would you say so I think Super obvious

one super in gaming if you look at all

the most trendy gaming coins super is

the only one that has kept more than

like three to fourx games and held up

support everything else like even the

strongest ones like Prime beam they have

done about like 2.5x since November but

they retraced a lot and I think that

comes from Supply control they're good

but they just they do a little bit too

much and too many Partnerships super

like I I talked to Elio a lot like he's

super you know focused on controlling

Supply and making sure like if you're

not contributing if you're not core

holder like we don't want to in this so

I think that's really showing over the

past 11 months that they are the only

gaming Point that's held up the the

floor in AI I I'm looking at mainly

decentralized AI networks now not so

much deepin I think that narrative is

getting saturated so decentralized AI I

think benser finally it's looking very

attractive yeah and then similar

projects there's the ASI artificial

super intelligence Alliance the the

fetch AI merger and that one's pretty

under radar because of uh majority of

the token supplies out yeah I I think

those are kind of some of the strongest

ones I've seen did I get your these

three right super for gaming bit tensor

for decentralized AI and then was ASI

another pick yeah that's that's uh AI as

well yeah as we're wrapping up with some

of my final questions I want to you know

encourage our audience to go subscribe

to you I think you put out great work

another you know kind of a big picture

how to best do well in the crypto Market

I asked you earlier what's the best

strategy to kind of make money in crypto

now let's talk about the fact that a lot

of people lose money in crypto everybody

tries to make money so many people end

up losing money I like to think my

audience is a little bit more advanced

and profitable and I think yours is too

what crypto investing mistakes should

people avoid if they want to get rich so

I think very practical right now is

don't trade too much especially at this

pivotal stage we're just about to see

the r Cuts happen we're potentially

witnessing the first couple months of

the bull run it's the last bit of

uncertainty so if you trade too much

like each dollar I lose I think of it

like losing $10 for the next year

because the I know the coins that I have

conviction and if instead of losing that

$1 in a trade if I just put it in and

hold it for a year that's should be

worth on average like8 to $10 by the end

of the B run so have that mindset like

why would I still keep trading at this

such an important like Capital

conservation stage and then the other is

um you got to protect your psychology so

many people have been burnt this year

with overtrading with the choppy Market

that they're not giving up at the worst

time possible so I think another side

effect of overtrading is like you kind

of lose the hope and the conviction that

you have for long term so if you're

finding that and you're getting mad for

no reason on your bags going down just

like stop like take a breather and going

into October November Q4 this year

things should start to look up again and

you want to keep some of your sanity so

you can come back with the same

enthusiasm falling in love with your

coins yes or

no depending on which coins I think

people should keep falling in love with

like Bitcoin ethereum and salana that's

good I think right now if you're still

in love with those bags you have

conviction and I think that's good for

good advice not all coins though right

especially newer coins that have just

come around in one year maximum two

years things come and go if you haven't

gone through multiple Cycles I like that

and and please uh plug yourself tell

tell our audience what you're doing what

you focus on in your channel yeah so I

have been in crypto for uh at this point

like seventh year very heavy and I do a

lot of investing but I also do a lot of

educational content you can find me on

YouTube my Twitter I'm very active there

as well cool D thank you so much virtu

bacon

anytime