BTC, ETH and XRP seem to be enough, too many coin choices will indeed be confusing. But let's look at the potential of each top altcoin, it will provide double profits if in the bull run season all altcoins rise. You just need to choose which one is the best and use it as your main investment. Be wise in choosing altcoins and make sure you don't put all your eggs in one basket, there are many baskets to choose from to maximize long-term investment.
Yes I agree with you. Diversification is great but diversifying too much will not bring you any benefit. If one coin goes down in price and several other coins go up, of course that's not a good thing either. You won't really make a profit by diversifying a lot.
Just have your portfolio in 3 or 4 altcoins like CRO, XRP, MATIC and Vechain. It is my asset and I think it is the best altcoin in my opinion.
Regardless of what coins we choose, we can only make a profit if we are also patient enough to wait for the price will rise. Because the truth is that we can' expect to earn a profit right after buying them, the price won't always go up high, it dumps as well that is we have to learn to hold. What we always do is we assume that the market will give us a favor, but it is not and losses are very possible for impatient people.
If we are a trader, profit is still possible during the bear season but if we are just purely as an investor, that is unlikely possible.