Quote from: Japinat on April 17, 2023, 03:17:25 PM

Quote from: Bananington on April 16, 2023, 08:56:39 PM

Quote from: The Cryptovator on April 01, 2023, 09:33:45 AM

What is your thoughts?

As we about to enter the altcoin season, I think we should be careful of the altcoins we still choose to invest in and the number of altcoins we invest in. Choose a few altcoins that you have researched to have good potentials and invest small amounts in them. Do not make the mistake of investing in too many altcoins, as it increases your chances to gain more, it also increases your chances to loose.

That is expected because aside from the chances of having more profits by buying large amounts and different coins, there is always that same chance where you will have losses in the process because the risks aren't eliminated or somehow minimized, it's still the same that is why we should buy what we think will give us profits than losses. And I agree with you, there's no need to buy a lot of altcoins, a few of them will be enough but make sure that you're only buying altcoins with good potentials or among the leading altcoins.

I think there is this understanding that if you make a lot of profit from the top names, you start to use your profits to invest into riskier stuff. So if you made x10 from your initial investment, then putting just a small amount, something like 100 bucks, into multiple stuff could get you a lot better returns as well.

Most of them will go to zero or just crash, but even if a few of them hit the mark and go super high, that would double your initial investment right away. However, since this is super risky, you do not start with that, you start investing into bitcoin and ethereum and so forth, stuff that are trustworthy so you will do better with them, but then after that is done you start to invest into other stuff with that profit.