Quote from: irhact on July 11, 2024, 09:02:48 PM

Quote from: laubeaud on July 09, 2024, 01:44:44 PM

Since the retracement of Bitcoin, the market has become boring. Sometimes, the direction of Bitcoin is unclear. For example, the price action of Bitcoin is actually confusing. I have learned one thing in these recent days: As a crypto trader, do not rely on trading as your only source of income. It is good to have another source of income like real estate, staking, crypto jobs, mining, and other legitimate sources of income. If I say that I will force trade now, it can end up in a loss.

Diversification can help you alot but still many newbies don't diversify when they're trading. They put all their hope on trading which is a wrong move that end them in desperate situations. As you diversify it helps you to get income from elsewhere when the market is dumping. Not diversifying will make you to leave the market without a profit but lost as you sell. As you want to diversify your investments, don't make the mistake of diversify still in cryptocurrency or you will still be losing and have no where to get money when the market is dumping. A good source for diversifying is to look at the business that can give you daily income and invest in them. If you have the money, invest in more than one of those businesses and you'll be taken care of when you're not making profits.

Diversification outside crypto market is indeed necessary not to get bankrupt with your resources. Consider crypto as just one entity of asset, whether you are into btc or alts market.