How to flip 50K to 100K?

I'm curious, what would be the most effective strategy to turn an initial investment of 50,000 into 100,000 in the world of cryptocurrency and finance? Is it better to diversify across multiple coins or focus on a few promising ones? Should I be looking at long-term investments or is short-term trading more suitable for this goal? And what are some key factors to consider when making such a decision, given the volatile nature of the market?