One of the best approaches to minimize loss in investment is diversifying portfolio. If I am to invest the $1.5k I will not invest all on a coin, 40% on BTC because it is low volatile, 20% each on other 3 coins with utility and cheap price. This other 3 coins can be from personal research with all in aim of minimizing loss.
Diversifying portfolio should not be just diversifying cryptocurrency portfolio, but it is good start. After that, if you have more money to invest than you should look into stocks and commodities.