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Popular crypto trader and analyst Ben Armstrong is investing in Dogecoin and three other altcoins in the wake of the market pullback on Sunday.
In a new YouTube video, Armstrong tells his 828,000 subscribers that he’s giving up on Bitcoin “making an absolutely massive run-up in a short period of time” and just going back to a strategy of trying to get “small wins as they come.”
The trader says he plans to buy enterprise blockchain platform VeChain (VET), as well as possibly Dogecoin (DOGE).
He’s also looking to pick up Binance Coin (BNB).
“Binance Coin I would add because it has just been absolutely massively ripping lately and now it’s had a large retracement. Not super large. Not out of context for the dip that we just had, but it’s shown a lot of momentum, so now that it has dipped, you can expect those coins like Binance Coin and Ethereum especially to have really, really, really hard rebounds.”
Additionally, Armstrong plans to invest $200,000 to $300,000 in Ethereum competitor Polkadot (DOT).
“Polkadot’s kind of a different strategy, where Polkadot is a coin that has not been doing super great lately compared to the Binance Coins and Ethereums and the Dogecoins of the world. But it’s down massively today. It’s down much more percentage-wise than many other coins.”
The analyst also had some advice for people who lost a lot of money during Sunday’s pullback.
“I know a lot of you guys are hurting. I know a lot of people have been wrecked today, but guys, you just got to learn: use those stop losses, don’t get over-leveraged, and you just can’t sleep on the markets. I mean sometimes they’re going to make massive moves and remember, as I always tell you guys, if a massive dump will liquidate you, it’s always going to eventually happen. That’s why it’s important that you take profits along the way.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Bruce Rolff
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