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.

What is your take on this?

There is no other take that will be reasonable against investment diversification and it's only a fool that will argue otherwise. It is like having the factors of safety, I've never seen the disadvantage of that. However, you have to learn and fully know what you are committing your money to and not just dabble into it because you know people are doing it, fraud and losses are in all investments. Nevertheless, it sounds like a good plan if you can divide your money into about 5-10 uneven parts and invest them wisely in projects, businesses and properties.

If you noticed, I mentioned the "uneven parts," this is because what you are investing the money into will always have its encouraging and discouraging parts, so we should learn the level of risk and the plausibility of dealing with them and earning from them. This is what will help you to know the worth of the portion you are coming into each of them. Even as lousy as people are about crypto, wise investors recently warned that you should not invest more than 10% of your worth (affordability). That is the worst case because it is still a new project that people are hyping. You can invest more in the more feasible ones like stocks, indices and properties that will hardly fail you.