Why You Should Have Invested in COMP and Still Should...
From $41 (in May 2023) To $72 (July 2023)
It is that time of the cryptocurrency season where the market is finally starting to wake up once again. With that, we can expect to see promising Altcoins increase in value. One such Altcoin is Compound.finance, a DeFi lending protocol that allows users to earn interest on their cryptocurrencies by depositing them into one of several pools supported by the platform.
On March 25, 2023 I wrote a publication about COMP and why it is was a good time to invest. The price of COMP at the time of the publication was only $41.92 (see image below).
At the time of writing this publication, the current price of COMP is $75.22 (see image below).
If you invested in COMP at the time of the AI PICK #51 publication for $41.92, and sold COMP at the time of this publication for $75.22, you would have made 55.7% profit on your investment ($100 invested would be $155.7 today; $1000 invested would be $1557 etc.)
Better yet, if you invested in COMP at the time of the AI PICK #51 publication and set a sell-limit order for double the price of COMP at the time of the AI PICK #51 ($41.93 x 2 = sell-limit order for $83.86), then you would have made 100% profit on July 16, 2023 (see image below).
HOW TO USE ALTCOIN INVESTING PICKS PUBLICATIONS
The best way to utilize the information from Altcoin Investing Picks and make a profit once a publication has been posted is:
Look at the current price of the asset in the publication
Example - The price of AI PICK #51 was $41.92
Source: Altcoin Investing Picks #51
Consider the All Time High Price AND Date
Example - The ATH price of AI PICK #51 was $911.20 which happened on May 12, 2021 (see image in 1a).
Consider the Launch date of the altcoin. Younger altcoins tend to have more potential to grow and give bigger returns.
Example - Launch date for AI PICK #51 was June 2020 (see image in 1a).
Consider which exchanges have listed the asset already. The more reputable the exchange(s), the more likely the asset should grow over time.
Example - COMP is listed on exchanges such as Coinbase, Kucoin, Binance and other reputable exchanges.
Source: Altcoin Investing Picks #51 (Subscription Option)
Consider the Investment Strategy/Suggestion and the Commentary & Critique section.
The investment strategy and commentary sections are available to paid subscribers only. In this section, I give my personal summary on the project and then share what action steps I would take next.
Source: Altcoin Investing Picks #51
Subscribe For Only $7/month
IS IT TOO LATE TO STILL INVEST IN COMP
Compound is a project that should be around for a while. The current price of COMP ($75.22) is still reasonably cheap compared to the potential it has ($911.20 or higher). Although it would have been nice to get in on COMP when it was around $20 in March 2023, there is still room for growth from the current price. Personally, I would still get in on this asset with a long-position. Meaning I would invest in COMP for the long term and set a sell-limit order for double the current price of COMP ($75.22 x 2 = set sell-limit order for $150.44).