Hey, gang.
There is no way for me to structure this request coherently. I am barbarously ignorant of the subject at hand, so please forgive any instances of clumsy wording you may encounter here or there. This is the only community I trust to give me sound, well-informed, and useful advice.
Here is my situation: I would like to invest in crypto, but my ignorance in this direction is magnificent. Indeed, it feels invincible to me. Furthermore, the very prospect of attempting to defeat this ironclad ignorance has presented itself to me as a somewhat insurmountable "ugh field" for the following reasons:
a) It seems like trading competently in crypto requires some degree of proficiency across multiple fields and practice areas: engineering, software development, data analysis, statistical modeling, cash flow assessment, insight into the psychology behind user behavior, an advanced understanding of economics, etc. I'm sure some of the requisite base knowledge is less self-evident, even, that that.
b) Existing information on the subject of crypto investing is so vast that any effort to consult educational resources on the matter tends to leave me feeling like I've just been washed about helplessly in a stew of concepts and details which seem very convoluted and carry very little meaning to my mind.
c) I don't know where to look for quality information or trustworthy sources.
How can I, starting from square one (complete ignorance), learn to invest wisely in crypto and maximize my returns on investment?
How much time should I reasonably expect to set aside for learning this?
Can anyone suggest quality educational resources for getting started?
What mistakes have you made? What should I avoid?
Also: what should I be investing in at the moment? Please take pity upon my indolent soul.
Any other advice, hacks, and pro-tips that may occur to you would be very much appreciated as well. I have no idea what I'm doing.
https://www.investopedia.com/terms/s/scalping.asp
Now is the time of the Stacking*, when the proof of the stake will release the power of the Flippening*. In the end, Ether can be number one.
Ether reached current levels in part due to the recent merge of fee burning. It could easily hit $20k by the end of next year. Squish Chaos makes a compelling case that it could briefly hit $150k or more after illiquidity caused by fee burning and the Triple Halving* due to The Merge of the proof of stake mechanism and likely simultaneous high demand from self-sustaining narrative, upcoming easier access, and expected high yield.
So, no, not too late.
How confident am I? About 15% of my portfolio. I was aiming for a bit less than that, but it's grown since I started. Epistemic status: I'm mostly aping* Squish here, so take my confidence level with a grain of salt. He could be wrong. Partially or totally. Squish says it's 90% of his portfolio though. Ether is extremely volatile, like most crypto: 90% drawdowns have happened in before. That's the size of the risk you're taking. Barbell strategy.
There are probably altcoins* with the potential to grow by greater factors, just because you'd be getting in earlier, when they're still small and have more room to grow before slowing from high–market cap limits. The question is, "Which ones?" Shitcoins* quite frequently rug pull* or implode.
*Crypto slang. (If it's not in there, Google it.)