@lonewolf1992 - It seems you are looking at returns of about 50-100%. It's possible, but not likely.
I made my first trade in 2009. Over eight years it turned out to be a 50% loss, and probably more than your starting capital.
I have made few trades in the time between 2009 and now, all the time watching markets, noting patterns and learning to control my passions.
I have identified patterns in markets for low-risk, high-return entry points. These come around rarely and they occur when your mind tells you not to buy and when you buy you are most worried of the loss. Taking on an excellent entry point requires discipline, as does choosing the right exit point.
Back in March we had a low-risk, high-return entry point when BTC crashed to $3,500. Friends had told me to let them know when they should buy Bitcoin. So in March I told them - now is the time to buy. None of them bought. Fast forward to a few months ago when Bitcoin has reached close to its 3-year high and now they are all getting in. This is why, as someone notes above, some people make a lot of money because a lot of people loose. People are herd-like and wired to make the wrong decisions in markets.
Day trading is a bad idea for anyone who is not prepared to take it seriously as at least a part-time job. Successful day-traders have systems they stick with and resilience. They can take on $20K losses, knowing that on average for each $20K loss they can make $30K, $40K. Anyone who doesn't have an idea what they are doing, from years of observation, will loose.
For retail investors, the solution is to set and forget, which has lower possible returns than full-time trading. i.e. for stocks the average Joe buys and holds for 40 years. That's the simple winning formula for people who don't know what they are doing. If you are a bit more savvy you can try and pick perfect entry points and perfect exit points. Entry points are easy to spot, but they come around rarely. Luckily with crypto they come a bit more regularly. You get a perfect entry point about every 1-2 years; while with broad stocks the perfect entry point is about once every ten years.
For crypto you can do it with one simple indicator, which is RSI <= 30 on 1w candles:
[The bottom line is RSI - when it is low and white is <= 30. The entry points on that were late 2018 and March 2020, both excellent entry points]
Every time it does that there, you are able to make 1X, 2X, 3X within a few months and possibly more if you hold longer.
The exit point is more difficult to pick, but RSI >= 90 with a parabolic spike in a short period, e.g. up $5,000 in three days is probably going to be your exit.
But most people can't stick to that. I've been aware of the above simple entry and exit points for some time, but fear always gets me from just fully sitting back.
Right now is not an obvious entry point for crypto. We've just got passed a bump where retail/noobies have pilled in and whales have taken profit.
My guess is that crypto is going to tank big in the next 12 months with the coming market crash. That is your buying point. If you buy then and hold until it goes parabolic you are likely to make the best gains you are likely to make. 5-10X. That is my opinion of what I think will happen,.
I am suspicious on this pump BTC is having. It has had well timed news at some key moments with swipe and paypal. Bitcoin futures data shows largest traders are more short than long.