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OfflinegeokillsA
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Re: Pretty good interest on my savings, but best strat? [Re: Bungmurphy]
    #28629830 - 01/21/24 01:08 PM (6 days, 21 hours ago)

Quote:

Bungmurphy said:
It's possible to triple your money in 6 months with gambling, crypto, drug dealing and other high risk ventures. But never at low risk [...] remember with investing, anything that sounds too good to be true, probably is.




:whathesaid:

On the other hand, Solana (SOL) did go up 400-500% in a little over two months from October through the end of the year.  It now appears to be working on a "cup and handle" pattern, which if it plays out in textbook fashion, would have us printing the lower portion of the "cup" now, and be building the "handle" portion out in February-ish.  A breakout above that handle would theoretically push price to $200 in relatively short order, which could get you a double inside of six months. 


   


It could in theory continue quite a bit higher, as the old highs were well north of $200 and the network has matured considerably since then.  Consider also that Ethereum, a slower and less cost effective network, is valued at over 7X the current market capitalization of Solana, whereas Solana is seeing accelerated developer and user growth relative to Ethereum.  It's thus not difficult to make the case that Solana has the potential to reach parity with Ethereum, which based on these metrics, would value each SOL (that can currently be acquired at ~$92), as high as ~$680.

Of course, this is all conjecture and FAR from guaranteed to happen, you surely could end up losing value instead.  Nevertheless, my money's where my mouth is.  I sold several tranches between $102-$120 recently, and bought them all back this month between $80-$101.50, with Solana now my largest personal position of any single crypto.

Your mileage may vary.  The safe bets are obviously a high yield savings account, certificate of deposit account, or straight treasuries.  But they're not going to net anything close to what you're asking for, in the time you're targeting.  If you really wanted to take a high flier on it, I think Solana is one of the better, albeit high risk, options out there.


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