Ok, so I've been watching the price of many coins rise and fall over the past few months and wanted to hear from the more experienced crowd (sorry, new to cryptocurrency).
I understand crypto is highly volatile and I have no clue how to make a decent penny, but I wanted to ask about an idea I've been thinking about for a little while now.
Regardless of the coin, purely from a mathematical perspective, is it possible to make a thousand dollars a day by volume alone?
Here is the overview I had in terms of my quick maths for making some profit with a given coin.
Initial investment of $50,000 into X-coin valued at $0.50. Giving you a total of 100,000 coins.
Now lets say that the coin goes up in price anywhere from $0.01- $0.05 in a day or a week.
Based off my simple math, that does in fact mean a profit of $1000-$5000 correct?
Again, depending on the coin, this could be repeated over and over either collecting your profit or re-investing into more volume and waiting for the rise in price, whatever it may be.
Am I correct in my simple calculations or completely wrong?
Thank you in advance for any advice.
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