Also, diversification is only true when we invest in unrelated assets , if we invest all our money in crypto (bitcoin and altcoins) only , I wouldn't call it true diversification .
this statement is true, diversification in same coin under alt category just feels like we're diversifying our asset on to the same thing, we're exposed to the same risk, the same market, the same trend, basically we better off doing nothing at all, diversification works well if we diversify to other asset probably more stable one compared to crypto.
agreed with what some people said though, if our asset isn't that great anyway, why bother, just focus on maximizing the profit and building our wealth first, diversification works for people who manages meaningful amount of money where even a 5% rise means few grand or more.