If you want to make $500k from $1000 you need to buy EARLY projects before they are big. And that is the beauty of crypto. Even the poor guy can make a fortune if he spots the rights projects while they are still cheap.
There are several ways to invest in crypto currency; relying on early projects before they are big is not one of those ways (ofcourse you can if you find it applicable to you). The core purpose of investment is to take profits and not get rich overnight (crypto currency is not a get rich quick scheme anyways). There are numerous top blockchains with which you can invest on; juld has done over 75% already from yesterday and it could do more more. The important factor in investing is to do your research and choose the best tokens to invest in without being greedy