 Are you tired of watching crypto opportunities pass you by? Wondering if you'll ever join the ranks of crypto millionaires? What if I told you that 2024 is the year that you can finally break free and hit that $1 million mark? Yup, you heard that right. One million dollars. For years, we've all heard about the complex trading methods that require analyst hours of research and a deep understanding of the market. They're daunting, risky, and that's basic. Not everyone has the time to dive into these strategies. Well today, I'm going to show you guys a different path. A path that's not only groundbreaking and straightforward, but it's designed with your financial safety in mind. Imagine by the end of 2024 looking at your crypto wallet and seeing a seven-figure balance. That's the reality I'm offering. Many new crypto millionaires will be made in 2024. The crypto landscape is changing and I've developed a strategy that capitalizes on these changes. It's designed to be easy to follow, minimizing risk while maximizing gains. And the system isn't just about making money. It's about making smart, big money. The kind that can change your life financially. So if you're ready to take control of your financial future and want a piece of that crypto millionaire pie, keep watching. I'm going to break down my strategy step by step showing you exactly how you can replicate my success. Let's embark on this journey together and make 2024 the year that you hit your crypto million dollars. What's up, guys? My name is Jay and welcome to Bitcoin Daily, your go-to source for all things crypto. In today's video, we're diving deep into my plan to make $1 million in crypto in 2024, while impacted tactics, risk, and insights you need to understand this ambitious goal. And don't forget to hit that like button, subscribe, and turn on notifications so that you will not miss any crucial updates to the strategy. And before you guys start a keyboard war in the comments about the risk level here, let's get one thing straight. This isn't financial advice. This is for entertainment purposes only. Making a cool million in just a few years isn't a walk in the park. So expect sleepless nights, buckets of sweat, and aging faster than a fresh-faced politician in office. If you want to make life changing money, you got to take risks. I did everything I could within the strategy to manage the risk and minimize potential losses. So buckle up, buttercup, you're in for the ride of your life. So the idea behind the strategy is to use leverage so that we have access to more capital to make bigger profits. The next thing that we need is for the profits that we're making to be in the underlying asset itself. The reason why is because if we are receiving profits in USD, that does not compound as the price goes up. However, if we're trading Bitcoin, for example, and making our profits in Bitcoin, let's say we make 0.1 Bitcoin right now in profits, which is worth about $4,000. However, if we assume that Bitcoin would hit $100,000, then when Bitcoin hits $100,000, our 0.1 Bitcoin profit would then be worth $10,000. So the idea is to compound our profits, which makes our path to $1 million easier. So for these first two steps, I will personally be using Bybit and Maxi. These are both exchanges where you can trade using leverage and make your profits in the underlying asset. In Bybit, you can access these by going over to derivatives and then going down to inverse contracts. On Maxi, you just got to go to futures, perpetual futures, and coin M. As you can see, futures are settled in the underlying crypto. Some of you might not be able to use Bybit due to your location, but on Maxi, you can sign up regardless of location with a VPN. I'll post referral links to both of these in the description below if you want to support the channel and also get an initial deposit bonus on your initial deposit. It's a win-win. Now for the next step, we got to think a little bit about this because making $1 million in one trade requires a lot of capital and is a lot riskier. So to mitigate our risk a bit and make our path to $1 million a little bit easier, we will ideally want to look for 10 different trades and 10 different cryptos. This will involve using both Bybit and Maxi for us. So we'll be looking at a few different cryptos for this strategy today. And we will have to make assumptions for the peak of the bull run. This will mitigate our risk by diversifying and now instead of trying to make $1 million on one trade, which seems like an astronomical feat, we can focus on getting to $100,000 instead, which is an easier path. Now remember, even though the goal is to hit that $1 million mark, if we fall anywhere close to that, even if for short, I will still consider that a great success. It's like that saying, shoot to the moon and even if you miss, you'll land among the stars. So the idea will be to make $100,000 on 10 different trades, which will make us $1 million. Here are the 10 cryptos we will be trading. On Bybit, we have Bitcoin, Ethereum, XRP, Cardano, Polkadot, Litecoin, EOS, and Mana. On Maxi, we have XLM and ATOM. So now we have a list of 10 different cryptos and we can begin to plot out what it will take to make $100,000 in each. So the main information that we will need to figure this out is which crypto it is, it's a deal entry, it's target, whether it's a previous all-time high or a new all-time high, our position size, the liquidation price based on our position size, and the capital needed for the position size and liquidation price. So let's begin with Bitcoin. So step one is to figure out at what entry we need how big of a position size to hit $100,000 by our target price. Then step two, we need to figure out with our position size and our entry, what is our liquidation price? For this, we will be using cross margin. And then finally, step three, in cross margin, how much capital do I need to push my liquidation level from ever getting hit? So this is all crucial data that we need to collect. We will be using the Bybit calculator to figure out these numbers. So let's run through a quick example. Let's build a position of 10x leverage, 25,000 as our position size, at the current price, and then the close price is going to be our target. For this example, let's say our previous all-time high, which was $69,000. This would make us a profit of about 0.2 Bitcoin. So we would need to play around with the position size a bit and entry price to make this profit a lot more. If we want to get to $100,000 by $69,000, we need about 1.4 Bitcoin total in profit. So after playing with it a bit, you can see that our position size at this entry price with this target would need to be $172,000. Now you can play around with leverage so that your initial margin is less. For example, right now is at 0.38. If I make it 100x leverage, then it makes it 0.03. However, the more leverage you use, the faster and the higher your liquidation price will be. So ideally, I want to keep mines between 10 and potentially 25x. Now, next thing we need to figure out is the liquidation price. Now to figure out our liquidation price, we're going to go to the liquidation price tab right here. And we got to input the leverage, the position size, and the entry price. However, one extra thing that we need to put in here is our available balance. Now, make sure that you're on cross here, not on isolated. The reason why we're using cross is because in cross, we can push down our liquidation price with our balance. So if we had 1 full Bitcoin, our liquidation price would be all the way down at $35,292. The next thing we got to do is try to figure out the ideal entry and what we think the bottom of a pullback could potentially be. Because ideally, we want to build our positions during a pullback at a big support level. So of course, the next thing we got to figure out is what's the average pullback during a bull run? Our average pullback so far in 2023 have been around 20%. The average pullback during the 2020 and 2021 bull run was also about 20%. The average pullback during 2016 and the 2017 bull run was about 35%. And the bull run before that, it was even more volatile. So what we've noticed is that the market has gotten less and less volatile. And every single bull run, its pullbacks are less volatile than the bull run before. So if we're thinking that on average, our pullbacks are going to be around 20% this bull run, we want to still give ourselves a little bit of room for error. So I drew a pullback of 25%, which puts us at around $33,000-$34,000 from the most recent high. So the better the entry that we get, the better our risk reward and the less capital that we have to also of course risk. So this is a part where you need to be able to analyze the market, analyze the charts and look for a good support level to build your position around. I found two of these levels that I would like to build my positions around. We'll call this the ideal entry spots. So right now we're very close to a resistance level. So we really don't want to be trying to build these positions here at these current levels. We likely want to build them on here, which is a big trending support level here for Bitcoin. This level is currently sitting around $38,000. And if we look in the past at $38,000 historically to see if it's been a big support, you can see that it definitely has multiple times overplayed as a support and big resistance level. So I think that's going to be the most ideal spot to build your positions for this upcoming bull run. However, the question becomes, are we going to get a pullback to $38,000? That's where it gets a little bit tricky. We recently had a pullback of 10%. And for Bitcoin to hit $38,000, it would need a pullback of 15% total with the Bitcoin spot ETF approvals looming. We might not get that pullback. So I think the second ideal entry is probably going to be at that $40,000 range. Looking back on history, you can see that $40,000 has also been a huge level for Bitcoin as both resistance and support. So we're going to build our position around that entry in this video. If you're more conservative, then you can either wait for that $38,000 if it does come. However, if it doesn't, you'll never be able to build your position. Or you can ladder your entries starting either now, maybe at $42,000 or at $40,000. Then based on your average entry and your target, you can figure out the position size that you will need. So with this new entry, you can see now our position size doesn't need to be as big to reach the 1.4. Remember, we're aiming for a liquidation price of more than 25% from the most recent high. And this is where it gets tricky because we still need to risk 0.8 Bitcoin here in order to hit this liquidation price. So how do we fix this? Well, instead of building a position for the previous all-time high, we have to build a position for a new all-time high. I believe $100,000 for Bitcoin during these next two years is almost a guarantee. So that's going to be my target for $100,000. And the neat thing is that now we only need one Bitcoin since one Bitcoin's value will be $100,000. With the entry of $40,000 and a target of $100,000, now our position size only needs to be $67,000. We basically cut it in half to get one Bitcoin or $100,000 in one trade. So by slashing our position size in half, we also slash our risk in half. Now we only need a 0.4 Bitcoin in order to have a liquidation price under $33,000, which is more than 25% under the previous recent high. So by now you should be starting to understand the strategy and how to figure out these different calculations in order to get both your ideal entry, your target, and position size in order to make $100,000 in one trade. So let's run through one more scenario with Ethereum and then I'll let you guys do the rest on your own for the sake of keeping this video short. So my ideal entry price for Ethereum is about $2,000. If we're trying to get to $100,000 by the previous all-time high, we will need to make 20 Ethereum, which will require a position size of about $67,000. Now because outcoins are more volatile, we want to give them more room. So I'm looking for the liquidation price to be beyond 30% of its previous recent high. Now 30% is around $1680 for Ethereum. I would probably like to get down to the $1,500. You can see that this setup here gives us a liquidation price of about $1547. However, you need to be risking 10 Ethereum basically. So again, if you don't have 10 Ethereum, then you need a higher target. So you're going to need to assume the next all-time high. So I believe that Ethereum could realistically hit $10,000 during this bull run. And the beauty is with this setup, you only need a $25,000 position size because we're only going to need a profit of 10 Ethereum at $10,000 to make 100 grand. So now with this setup, we only need a balance of 4 Ethereum in order to get our liquidation price all the way down to $1,500. So the riskiest part of this strategy is your entry. That's why it's best to enter during a pullback because the further down on the pullback that we enter, the less likely that the price is going to continue going down and it will ever hit our liquidation price. You can see if you would have entered on any of these pullbacks here, once the price began going upwards, it never pulled back to those entries where you would have entered on that last pullback. So it always went higher and the pullback was always higher than what your entry would have been. So if you would have entered Bitcoin at around $9,000 on this pullback, you can see that this pullback here only got to about $9,800. If you would have entered at $9,800, you can see this next pullback here only went down to $16,000. If you would have entered at $16,000, this pullback only went down to $17,000. If you would have entered at $17,000, this next pullback only went down to $28,000. So our way of mitigating our risk is by entering in one of our ideal spots. Enter during a pullback, make sure your liquidation price is far enough and once that next move to the upside begins, then your liquidation price at that point is no longer going to matter because it will be very unlikely that price returns to that level. Now for the sake of keeping this video nice and short, we'll leave it up to you guys to figure out the other entries on your own. If you want us to make another video going into more detail on the other entries of these cryptos, let us know in the comments. If we have enough requests for them, then we will do a continuation video for this strategy. So we've just navigated through a comprehensive plan to hit that $1,000,000 mark in 2024 by leveraging tools like Bybit and Maxi and understanding the critical aspects of entry points, target goals and position sizes and much more. Remember that this journey isn't just about making trades. It's about making smart and informed decisions that could significantly amplify your financial futures. But always keep in mind high rewards come with high risk. So make sure to try to carefully and always consider your financial situations before investing. Now, you might feel like this strategy is a bit too high risk for you or maybe you don't have enough capital to build a position or a strategy like this. But don't worry, I have another option for you guys. Everyone dreams of making passive income but nobody knows how, especially in crypto. Well, I've got good news. You can make passive income just by owning Bitcoin. Yes, it's possible and it's easier than you think. Don't miss out on our next video, Beginner's Guide to Selling Bitcoin Options for Passive Income. This guide is your golden ticket to understanding how you can make your Bitcoin work for you. Earning income even when you're not actively trading. So just click on the video that's on the screen right now and dive into the world of Bitcoin options and discover how to make passive income with minimal efforts. Don't forget to like and subscribe so that you can continue learning and we can continue to grow our wealth together. I'll see you guys on the next one.