Quote from: fuguebtc on Today at 02:27:29 PM

Quote from: shinratensei_ on Today at 02:59:23 AM

Quote from: bias on November 03, 2024, 10:50:13 PM

That's not a good strategy. You always diversify your investment funds, no matter the amount of them. It's better, in any term, to put in 10 different assets $10 in each asset, rather $100 to just one.

is that really true though? diversifying $100 to 10 coin, just feels like a lot of headache just probably for $3 gain in 30% price increase.
instead if you don't diversify you can spare yourself of headache and still profit, I mean most alts rally in unison anyway, if it dumps all dumps and if it rise all rise so I think at this point diversification is just waste of time.

I prefer diversification when the money is already huge enough like $100k ++ then we could diversify to crypto and to other asset, diversification in alt for the most part, is just waste of time.

Overall, diversification has both advantages and disadvantages, it is not as perfect as we imagine . It can help us reduce risk but it can also reduce profit because not all coins have the same increase when the market is bullish .

Plebs like us who don't have the amount of capital that Warren Buffett has DEFINITELY DO NOT NEED TO DIVERSIFY! Our investments should be concentrated, not diversified because what would be the point of reducing risk if what you're risking is a small amount of capital?

Perhaps many of you have already known that after losing some money in "day-trading" different shitcoins, I invested all of my savings in ONE asset - Bitcoin.

Although I encourage my fellow plebs to Buy and HODL only Bitcoin, you should choose an investment that you have MAXIMUM CONVICTION.