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By the time the raging bitcoin<\/a> (BTC) <\/p>\n In the midst of the frenzy over initial coin offerings, the former banker, who said he scooped up bitcoin for under $500 in 2015, started to reinvest some of his realized profits into the private token sales of emerging projects.<\/p>\n Gadit recalled getting into ethereum<\/a> (ETH) at around $14 at the start of the year only to see it shoot above $1,000 in January 2018. Hoping to capitalize on the momentum, he launched his own crypto-focused fund management startup.<\/p>\n “I had this thing of analyzing projects, reading their white papers, and talking to the founders who were a lot more accessible than they are today,” he said in an interview. “Obviously, not everything worked out, but a lot of these projects did really well.”<\/p>\n As Gadit dived deeper into the business, he noticed that the crypto market was still dominated by retail traders rather than hedge funds or professional investors.\u00a0<\/p>\n “I realized that instead of doing the large tickets, this has to go towards the more commercialized and more retail audience,” he said.<\/p>\n Shortly after, he met David Rodriguez and Bartolome R. Bordallo, who were just beginning to build the crypto copy trading platform Zignaly as a way to help retail investors to learn how to execute more advanced trading strategies from successful traders.\u00a0<\/p>\n “So I closed my fund management firm,” Gadit said. “I took out all the budgeted funds from there and I said ‘listen, guys, let’s put it here, let’s do it together.'”<\/p>\n Three years later, Zignaly has grown into a copy trading platform with 4 billion in trading volume and 430,000 users. It has also attracted $120 million in assets that are managed by almost 370 traders and fund managers, Gadit said.\u00a0<\/p>\n The platform’s top 20 traders, who have been active for at least one year, have averaged more than 270% in yearly profit, according to the firm, which tracks the traders’ returns via connected exchange data. Traders’ funds are still secured at the exchange level.<\/p>\n For example, the most successful trader on the site appears to have achieved a total return of 1,051.93% since May 2021 and attracted 275 copiers.\u00a0<\/p>\n While the traders on the platform are pseudonymous, Gadit said they all have to go through a rigorous verification process that includes a “know your customer” procedure and a one-month screening period.\u00a0<\/p>\n “If things go against the guidelines, we have a right to liquidate service and actually distribute the funds back to the users,” he said. “We want to make sure that user interests are aligned.”<\/p>\n Zignaly, which recently raised $50 million<\/a> from the $3.4 billion alternative investment group Global Emerging Markets, has also been expanding beyond copy trading.<\/p>\n Besides mimicking the trading strategies of advanced traders, beginner users can co-invest alongside successful investors as part of a profit-sharing program. In addition, users can also participate in a staking program where they can stake the platform’s native ZIG token to earn passive income. To be sure, the token has plunged by 15.9% in the past month, according to CoinGecko data<\/a>.\u00a0<\/p>\n After a whirlwind quarter during which bitcoin tumbled to as low as $32,000, the largest cryptocurrency ended the first three months of 2022 trading above $44,000. Bitcoin was changing hands at nearly $46,000 as of Tuesday afternoon, per CoinGecko pricing<\/a>.<\/p>\n That’s a good sign, according to Gadit, who uses both technical and fundamental analyses to inform his outlook on the prices of major cryptocurrencies.<\/p>\n Fundamentally, a strong quarterly finish amid a myriad of macro headwinds accentuates the resilience of the asset, which helps the continued adoption of cryptocurrencies by institutional investors and sovereign nations.\u00a0<\/p>\n Just this week, the UK government announced<\/a> plans to become a “global crypto asset technology hub” while asking the country’s Royal Mint to create a non-fungible token to be issued this summer.<\/p>\n Technically, if bitcoin is able to sustain the trading range between $42,000 and $44,000, then there is a “strong likelihood” for the digital currency to reach another all-time high in the next three to six months, in his view.\u00a0<\/p>\n Gadit also looks at the bitcoin dominance index<\/a> and altcoin market cap<\/a>. While there haven’t been too many obvious signs of strength in the recent altcoin rally, he believes that the consolidation in bitcoin can lead to a wider, albeit more volatile, upward move in those major large-cap tokens such as ethereum.<\/p>\n For his personal portfolio, he is “betting strongly on” four altcoins, among others. They include exchange tokens BNB<\/a><\/strong> (BNB) and FTX token<\/a><\/strong> (FTT) as well as layer-one blockchains solana<\/a><\/strong> (SOL) and syscoin<\/a><\/strong>\u00a0(SYS).<\/p>\n He especially likes BNB and FTT because they are the native tokens of two of the largest crypto exchanges \u2014 Binance and FTX.<\/p>\n “They are revenue-generating businesses,” Gadit\u00a0said. “People don’t value the fact enough that revenue-generating businesses can survive bear markets and thrive in bull markets.”<\/p>\n The SOL token has surged 446.5% in the past year even after recent sharp declines. The SYS token, which was trading at $0.672447 as of Tuesday afternoon, rose 89.5% in the last year, according to CoinGecko data.\u00a0<\/p>\n<\/p><\/div>\n
\n bull market<\/a>
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\n <\/span> in 2017 rolled around, Abdul Gadit was already trading cryptocurrencies full-time after quitting his job at Standard Chartered Bank.\u00a0<\/p>\nMimicking the trading strategies of advanced traders<\/h2>\n
Bitcoin could reach another all-time high, 4 token picks\u00a0<\/h2>\n