“The crypto bull market is very different from the stock market, you don't get 20X or 50X returns in the stock market over 6 months.” -David Werba Click To Tweet
David Werba is a blockchain developer who has advised and co-founded several blockchain startups. He is a blockchain and crypto expert who also has experience in the trading world. On this episode, we talk about what a golden cross and death cross is and how it can help affect your decision on when to enter and exit a market.
David breaks down some of the ins and outs of crypto and blockchain including his favorite DPOS chains, advantages of investing in crypto, how to monetize every part of your life with crypto, common mistakes investors make, and how to safely hold your coins and tokens.“Once the bull market starts, it's hard to pick a loser with the hundreds of coins available.” -David Werba Click To Tweet
You can find David here:
- [01:41] The death cross is when the 50-day moving average passes and crosses the 200-day moving average on the downside. This usually sparks the official beginning of a bear market.
- [02:02] This is what happened at the beginning of 2018 with Bitcoin.
- [02:17] The golden cross is when the 50-day moving average crosses the 200-day moving average to the upside.
- [02:33] We are getting pretty close to that moment. There are some alt coins that are about to cross right now. With Bitcoin, it should happen in the next two to three months.
- [03:01] A lot of professional traders wait for this moment before they put the big money in.
- [03:17] They short at the death cross and go long at the golden cross.
- [03:44] Nobody knows when the exact best time to enter the market is.
- [04:01] David has been working in this industry every day for the past few years. Prior to that, he was a stock and Forex analyst.
- [04:25] David feels that we are at a price right now where it would be safe to start laddering into the crypto market.
- [04:49] Usually once the market hits the golden cross, it comes back down, in his opinion, this is the best time to buy.
- [06:08] Once the bull market starts it’s hard to pick a loser with the hundreds of coins.
- [06:39] David is a fan of Delegated Proof of Stake (DPOS) chains suck as Lisk, EOS, Steem, BitShares, and Ark. The goal of these is scalability by speeding up transactions and block creation without compromising decentralization.
- [07:14] You could use dividends or staking rewards. This increases your shares by just holding your balance.
- [08:30] A lot of startups offer monthly bonuses. You earn rewards by holding the coin. With others you get stake in rewards by holding it.
- [09:10] With the music tokens the streaming is considered the mining.
- [11:29] David uses whaleshares, because you make money in the process of blogging or using the platform. It’s a return on your time. The most exciting part of blockchain in general is the removal of unnecessary middlemen and how it makes monetizing every part of your daily life possible.
- [13:19] There are different wallets for different coins. It’s recommended to hold your coins in the wallet of the native coin. Once buying on the exchange, transfer your BitShares into your BitShare wallet.
- [15:04] With your own wallets, you are the only one who has the keys, just make sure you don’t lose them.
- [15:48] David’s exit strategy after the bull market. The entry and the exit are the most important periods. Don’t try to pick one point. Ladder out the same way you ladder in.
- [18:12] The majority of crypto traders lose money. Without research, people will put all their money in when it goes up a little bit and then if it drops they’ll sell before making any profit.
- [19:28] Do your research don’t go off the buzz in the media.
- [20:27] David is not that high on Ethereum. He prefers EOS.
- [22:57] Do your research. Golden cross moments are rare.
Links and Resources: