Quote from: Y3shot on Today at 03:10:35 PM

Quote from: macson on April 30, 2024, 06:20:11 PM

Quote from: Bravut on April 30, 2024, 05:31:04 PM

Diversifying is a good idea, but measures need to be taken before venturing into any investment or business. That can be met if after taking partial profit from your bitcoin holdings, ensuring not to offset your Bitcoin accumulation process and account, you use the profits to invest into a prospective business you have knowledge of this will help to balance your goals too. Though there is no guarantee that such business will yield more in the early phase but overtime it will be worth it. This is the best approach for me on how to use some of our profits made.

Also ensuring a reinvestment into your Bitcoin holdings.

someone is 20 years late if he only has 1 source of income now, there are many ways to make money now as long as you are willing to work hard for it, i myself have an investment in bitcoin which i have been doing for the last few years, although not consistently but every several months i continued to buy and sell the bitcoin that i had, as a result my portfolio rose 30% ^{(plus my payment in the signature campaign)} since i first decided to invest in bitcoin.

apart from investing in Bitcoin, i also diversify my investment in several assets, such as gold and property, but i plan to sell several percent of my gold investment to buy Bitcoin. Actually, diversifying investment is quite challenging, especially when the assets we own move quite wildly. Don't put all your money in 1 basket, this is what i remember.

With bitcoin having a one basket is better. You may be thinking of how you can diversify your investment into others thinking that you are doing the right but trying to put yourself in trouble. So far as cryptocurrency is concerned I don't really believe in diversifying into other coins not just to let all my eggs not to be in the same basket, I prefer to have all my investment in bitcoin than to invest in coins that I'm not sure of because I know that altcoins are always not reliable.
Bitcoin is the best cryptocurrency you can invest in and I don't see why one should think of other coins that are trying to imitate bitcoin as alternative investment. Diversify in cryptocurrency can also be seen as risk taking because the more baskets that you may be thinking of going into is even more risky than bitcoin.

You are right in what you said, diversification is not all about Investing in altcoin which you have explained. But I don't think investing all your fund in bitcoin is the best option. Diversification does not necessarily mean investing in altcoin but there are other things that has volatility like land and many others, but since this thread is not talking about those other assets, we are actually concentrating on bitcoin and investment strategy. but that doesn't mean we should invest all our fund on it, or invest under pressure. Always invest the amount that will not affect you or invest what you can afford to lose. Btc investment is for the patient minded, tolerance and determined people, who are ready to face the challenges of ups and downs. When you don have the principles to control yourself duringy this bearish period, you may end up selling at lost. Let try as much as possible to do the right thing at the right time. Btc is the best investment but let us not overdue it.