Popular cryptocurrency personality Scott Melker has spoken about his trading strategy, price targets, and five crypto projects he currently holds.
Known on Twitter as ‘The Wolf of All Streets’, Scott Melker has grown into a crypto brand. The ex-DJ and now full time crypto investor and trader was recently interviewed by Business Insider.
Melker has grown his crypto following on social media to 400,000 strong. Melker spoke out about his journey, calling himself an investor first, “Anyone who asks me, I say I’m an investor who trades.”
Melker outlined his investing strategy, reiterating that “people should have at least 60% to 70% of their assets in long term investments and 15% in cash and 15% for trading.”
The crypto aficionado admits he was not always this bullish on crypto, insisting people should never hold more than 10% of their net worth in crypto until as recently as late 2019.
Portfolio strategy
Melker focuses on key long term investments within the market. Primarily BTC and ETH. He then utilizes gains from other crypto projects as long term investing plays, with little risk after cashing out profits.
He then uses 15% of his portfolio to actively trade the markets. While holding 15% in crypto stable coins that yield interest. The interest bearing accounts on stable coins is something Melker utilizes, calling the passive income approach “absolutely incredible. To me, it’s actually the largest innovation probably in the crypto space in the last year to two years” he stated.
Melker is a keen believer in holding crypto for the long term. Early buyers of promising projects will reap the rewards, he said. He explains that anyone buying crypto over the last three years that held, are now “seeing the fruits of those labors and you don’t need to do much trading.”
Price targets
Melker also mentioned price targets for BTC and ETH. He believes ETH and BTC should be two core assets that investors should hold. Furthermore, he predicts ETH could reach $10,000, while BTC could hit $235,000.
“I think ether’s going easily to $10,000 in this cycle, and I think ether could go much higher to be quite honest,” Melker said. “And I think that bitcoin will go to $200,000, $230,000, $235,000.”
Promising projects
Melker also spoke about five crypto projects he currently holds in his portfolio. While most of them have already yielded great returns for the investor, he currently still holds LINK, DOT, EGLD, UTK, and POLS. All of which have seen triple percentage gains for Melker.
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