But are these people wondering if the cryptocurrencies they see as diversification will still be in their top 10 spots in, say, 3 years?
After a lot of experience in the market and how i have lost money on plenty diversification, some of the things that I have learnt are;
- Diversification can be good and can also be bad. If you choose to diversify your cryptocurrency investment before you can accommodate it, your money may be swallowed up or reduced in the process of being invested in speculated cryptocurrencies that they told you will last the test of time.
-You can diversify in crypto for the short-term, but for long-term investments in cryptocurrency, bitcoin should be your number one choice always.
- If you must diversify your investment, don't over do it. Pick one or two other coins in addition to BTC and be content. Buying over 10 cryptocurrency may do you no good.
Totally agree. I believe some of us get these ideas twisted, Investment should always be for the long term and Bitcoin is the best case in this and a few Alts can be looked at as well but some think because long-term investment is always being argued then they can put money in just any Alts for that amount of time. Nothing wrong with diversifying but most Alts are good for short-term trading.