If you want to diversify your investment when you have already invested in Bîtcoin, buying altcoin is not a good step in diversification because if there is a failure in Bitcoin there will also be a failure in altcoin. You can diversify your investment in something different from cryptocurrency such as real estate investment or selling a variety of merchandise, so that if one market fails, success in others will reduce the impact of failure.
What is the need of diversification when we already have our investment on Bitcoin because most successful investors prefer to have only one source which is Bitcoin because there believe in Bitcoin can never be compared to any other investment so they decided to stick to only Bitcoin which is a very wise decision.
I don't know why this issue of diversification is still coming up here when the thread is about buying Bitcoin to hodl. I think this discussion of diversification has repeated several times and is looking more like distraction. When we continue to compare different investment options in a thread the focus is supposed to be how to buy Bitcoin, many people might derail into making wrong investment decision in a bid to diversify his assets.
The forum is really big, so much that we can open a thread to discuss other investment instruments for the sake of those who might consider complimentary investment as a way of diversifying their Bitcoin portfolio.
mate there is no point creating a distinct thread instrumental to diversification discussion, I think this thread also envelopes discussions that revolves within the idea of buying the dip and hodl. And diversification is not out of point.
If as an investor how do you intend getting funds to fund your plans of buying the dip if you don't have a good diversified source of cash flow. You don't buy the dip with empty hands and that's what makes me believe that the discussion of diversification side-by-side the dip is something that can't be overemphasized if buying the dip is with the plan to hodl for long term.
You've got to have a sustainance to make the long term plan possible.