Messari founder Ryan Selkis states his recommended strategy for cryptocurrency investors looking to maximize profits in the coming year. Selkis advises not to sell during the initial four months of 2024.
Messari’s Selkis recommends holding assets, synchronizing movements during increases in market value and maximizing profits for crypto investors. Selkis advises holding BTC, taking advantage of the profits when MVRV crosses 2-3, and allocating the profits for taxes and investments.
Cautioning against rash entries, Neuner compares the bull rally to a marathon, emphasizing decisions to achieve lasting success.
Messari: Hold and Avoid Selling Cryptocurrency Profits
Messari’s founder Ryan Selkis advises his 340,600 X (formerly Twitter) followers to hold onto their assets for the coming months. He suggests making strategic moves when the ratio between market value and real value is multiplied by two or three, indicating a possible overvaluation of prices:
“Your job right now should be to hold on for dear life to BTC for the next couple of months, then take some profits when MVRV crosses 2-3. Set aside half for taxes and use the other half to play the hot ball of the money game if you must. But in Q1 a) HODL & b) create a strategy.”
Earning Tips from Crypto Influencers in Today’s Market
In a recent post on X (formerly Twitter), Neuner advised his 736,400 followers not to rush into the cryptocurrency market as prices continue to see an upward trend across the board:
“Treat this bull market like a marathon (42 km). We have already done about 10km, there are 32km left.”
He declares to his followers that “32 km of opportunities awaits us.” In addition, he reminds them that they do not need to capture all the operations or synchronize them perfectly: “Most people go to REKT before the end because they are rushing to make their fortune!”
However, the market is constantly evolving, with the emergence of new currencies; what gained popularity in the last cycle might differ in this one. In October 2023, a media outlet reported that Neuner highlighted PEPE as one of the coins to watch closely.
Currently, the price of PEPE stands at $0.00000117. He explains that it is a good market indicator, to know when the market is becoming oversaturated. Neuner stated that “It is literally an index to know when the market is becoming oversaturated. When people are confident enough to go there and pump, that’s your cue to go out. Always works.”
Bitcoin Price Movement
In its latest Q4 2023 State of Bitcoin report, Messari indicated that NFT volume in December stood at $881 million, surpassing Ethereum (CRYPTO: ETH) and Solana (CRYPTO:SOL) combined. Registrations represented more than 40% of total transactions in the fourth quarter.
Other points shared by Messari were that Bitcoin boasted of a maximum of 21 million Bitcoin available for investors and the Bitcoin halving in April. With Bitcoin’s current dominance at 51.4%, Messari said there is still room for consolidation.
According to Messari, DeFi’s near-term growth will be impacted amid continued regulatory headwinds, NFT activity appears dead. It was estimated that stablecoins, games, decentralized social networks and infrastructure would rise gradually and steadily.
The report added, “We likely won’t see another 100x for Bitcoin, but the asset could easily outperform other established asset classes once again in 2024. Eventual parity with gold would produce a price per BTC of over $600,000.”
By Leonardo Perez
