~snip~
Investing in two closely related assets is actually not "diversification". ~~snip~~
He also confused me because I was talking about non-bitcoin related assets, and I also emphasized that investing in shitcoins does not diversify in the previous comment
. That's not even called investing, it's gambling when we talk about shitcoins. All other coins except Bitcoin are gambling to me which can turn from rich to beggar at any time. There is no way to do anything in life with those temporary possessions.
I personally believe that $200 worth of bitcoins is more valuable to me than having $2000 worth of shitcoins. Because shitcoins will disappear one day but bitcoins will be my wealth. As long as I have bitcoins I am valuable. So there is definitely no alternative to holding bitcoins to establish oneself as valuable.
We have always preferred Bitcoin as a digital asset because it is an asset that a person has as a permanent asset. Investing in any other currency in the crypto world except Bitcoin may bring profit for a short period of time, but if its value goes down later, then we know that currency never grows again. But if we invest in Bitcoin then of course it will rally again and profit again in any situation. As we all know it doesn't take long to get rich if the money is gambled away as a temporary asset, so it is better to hold Bitcoin as a permanent asset. If you have a small amount of fractional bitcoins I would argue that it is most valuable to you because sheetcoins often turn out to be scams. So I think to be successful in future and to be a good trader it must be wise to invest in Bitcoin and Bitcoin is a valuable asset of a person's future.
If you look around you will notice that people are reluctant to give details on shitcoins, or give examples that are highly controversial. Bitcoin is undoubtedly the king of the crypto market because when Bitcoin falls all cryptos fall to a higher or lower degree, but when Bitcoin rises, altcoins do not rise to the same degree. You can make good investments in altcoins and shitcoins, if you know exactly when to get in and out, but not for long. As a point of empirical observation almost any currency other than bitcoin will look like shitcoin at some point. We observed that many people lost hundreds to thousands of dollars of their money to Shitcoins.
So I think we should focus on Bitcoin instead of other coins, because investing in Bitcoin will make you a good trader.