Welcome to my latest video presentation. Below is a transcript that’s been condensed for a fast read. For additional details and several charts, watch my video.

I interviewed Alex Benfield, a rising star in the cryptocurrency world. The U.S. Securities and Exchange Commission (SEC) shook up the investment landscape on January 10, giving the green light to rule changes that open the doors for the creation of Bitcoin (BTC) exchange-traded funds (ETFs). Crypto assets have soared on the news.

I decided that now’s an opportune time to pick Alex’s brain about crypto and the best ways to make money from its ascendancy. My questions are in bold.

How and when did you get into cryptocurrency?

In 2018, I took a job as a data scientist at a small startup in Denver doing research for institutional clients such as hedge funds and family offices.

From November 2020 to November 2023, I was a crypto analyst at Weiss Ratings. I co-edited multiple cryptocurrency newsletters and ran several portfolios.

My personal investments in cryptocurrency have really helped expand my lifestyle. I was broke when I heard about crypto to begin with. Crypto has changed my life.

What type of research did you conduct at the data startup?

We conducted all types of research using both market data and on-chain data.

I personally conducted research into the international adoption of cryptocurrencies by country and region as well as research into holder counts and what we call HODL waves, as well as many more crypto specific metrics.

Back then, access to in-depth crypto data was nowhere near as prevalent as it is today.

Well, you’ve certainly made a name for yourself in the crypto realm. If you don’t mind my saying so, you’re widely known as a crypto “whiz kid.” What types of crypto assets do you specialize in?

I tend to focus my investment strategies on the blue-chip assets but also research up and coming projects and the hottest trending sectors of the crypto market.

Blue-chip cryptos, such as Bitcoin and Ethereum (ETH), have withstood the test of time. These coins have demonstrated longevity, establishing themselves as credible players.

The term altcoin refers to all cryptocurrencies other than Bitcoin, Ethereum and the big well-known names. There are literally tens of thousands of altcoins on the market.

I stick to an 80-20 approach between blue chips and altcoins.

What types of trades do you focus on?

I’ve found that momentum-based trading is the best type of approach in the crypto market.

I especially like to incorporate breakout trades from newer assets and sometimes make short- to medium-term trades on assets that are heating up based on social sentiment.

How exactly do you gauge what constitutes a good trade?

There are signs and indications in the chart patterns that help me decide whether or not a trade is high or low confidence.

High confidence trades appear frequently throughout a bull market. However, making picks this way sometimes means that I will pass on lower confidence trades. In the end, this leads to fewer overall trades but a much higher rate of success.

What are your current thoughts on the market?

The last few months have been extremely good for most crypto assets. See the following 12-month price chart for Bitcoin:

Bitcoin closed out 2023 with a 156% gain. I expect the first meaningful price correction to take place sometime soon, because the market has not cooled off in months.

However, I’ve seen enough to know that we’re in the beginning phases of a bull market and the general trend isn’t changing anytime soon.

Where do you see crypto going in 2024?

The crypto sector is currently just finishing up the first big upward phase of a new bull market. BlackRock’s (NYSE: BLK) new spot Bitcoin ETF topped $1 billion on January 11, its first day of trading.

Read This Story: Crypto Bulls Unleashed: SEC Approval of Bitcoin ETFs Sparks Frenzy

I don’t expect the asset management giants to stop with Bitcoin. I think that spot Ethereum ETFs will soon be next. We only have to look at the huge gains of spot gold ETFs since they were first introduced in 2004.

Bitcoin and cryptocurrencies are far newer and far less understood than gold, meaning there lies even more potential in this asset class to outperform gold.

I believe that the SEC’s decision this week to approve crypto ETFs will prove the catalyst for the big bull market that brings cryptocurrency to mass adoption.

Thanks for your time!

Editor’s Note: The analysts at Investing Daily always strive to provide the best financial advice, with the needs of individual investors in mind. We’re curious about your opinions and intentions when it comes to crypto.

Please fill out and submit our crypto questionnaire, which you can access by clicking here.

John Persinos is the editorial director of Investing Daily.

To subscribe to John’s video channel, click this icon: