Warren Buffet said "Diversification is a protection against ignorance,"
He's partially right!
Bitcoin is the best performing asset in the past 10 years.
You shouldn't rely on past results...
There's no point in diversifying any further when you understand and believe in the future of bitcoin. Big gains still to come!
If you truly understood it, then we wouldn't be having these conversations now;
BTCitcoin wasn't created to be used as an investment asset and yet, that's what most of the newcomers see
[unfortunately].
- When you start to use something for the wrong reasons, you might end up in a hole.
I personally diversify my investment. Most of my fund for cryptocurrency is in bitcoin but I also invest to other altcoin which the price has big probability to increase significantly.
You can diversify if you have observed that there's a high chance that many coins will shine
I wouldn't label those as a diversification; Refer to the following post:
A diversified portfolio would have, at least, some Bitcoin, Gold, Stocks and Bonds.