I had mentioned in another one of my recent posts that I have less than 0.5% of my total crypto allocation in shitcoins, and I have about 2.5% in cash, so I have about 97% in bitcoin, 2.5% cash and 0.5% shitcoins... and sure maybe I am much lower than usual.
Hmmm..I see how you have understood and believe in bitcoin for a very long time and I wouldn't doubt your believe in it. Unlike newbies like us that didn't know this for a long time. It is my pleasure to learn from you as your words are words of motivation for newbies who don't have that full confidence on bitcoin because they lack the strategy on how to go about their bitcoin journey. I could remember the last ATH,my friend bought a fraction of bitcoin but unknowingly to him that after that comes the dip and he was bragging that he has bitcoin, I got jealous and felt I also need to buy too.
Unfortunately for him the price of bitcoin went very dip last year and he got angry that his investment is depreciating and he sold it off. This discouraged me from buying bitcoin and I was confused with the price because I don't have the knowledge of bitcoin movement. This year I got registered here and wanted to understand more about bitcoin investment and why that depreciation in price last year. After reading a lot,I came to understand why the price of bitcoin went dip because it was in the bear bottom. Presently, that I have understood little about bitcoin and the strategy of buying and hodli with DCA method, it has been a relief to me because I can be bold on my bitcoin journey but newbies like us needs to learn from old G like you and stay focus more on investing little of our income but consistently and also to have another means of cash inflow so that no matter what happens to bitcoin price,one will still be strong in hodling.
but still you should be questioning how much you really need to be putting into shitcoins? 10% is a lot if you were to even go that high.. and so then you get tempted by so many shitcoin projects
I wouldn't even dare to invest in shitcoins no matter how tempting they are because it wouldn't be a nice idea for me that just started my bitcoin journey and i am still thinking of reaching my bitcoin target someday that I don't even know when. Investing in shitcoin will bring me big loss because it is like gambling especially to newbies that lack the knowledge on which shitcoin can be profitable in the short run. I don't want to do anything that will divert my attention on reaching my bitcoin target. But you understand shitcoins and I know that you are only gambling with it that was why you invested only 0.5% of your funds in it,I don't want to take such risk.