I made that mistake going all in on asset. Never again. I could have won big but it is not worth having that anxiety. Anxiety makes you panic and panic makes you stupid. Going all in is a no no.
Even in Bitcoin? I have this belief that going all-in in Bitcoin is totally fine but a time will come that I'll have to diversify as well but not too much.
People have to be careful if overly allocate into any one asset, especially any asset that is volatile in relation to the currency in which they may well need to pay bills. I don't really believe that it is very practical in regards to some guys who say they had gone 100% bitcoin or some variation like that, and they might even get paid in bitcoin, so they just convert to fiat to pay bills and things like that, as the bills come in.
Usually, we are at least going to need to find some kind of a minimum balance in regards to how much value that we might keep in fiat and how much in bitcoin, and even if we might have several hundred bitcoin, it may also be valuable to either keep a couple years in cash or at least 3-6 months in cash and then other various forms of places that are able to offset bitcoin's volatility, whether they are related to cash (and maybe liquid) or if they aren't as liquid then that would be a factor to consider as well in regards to how long it might take to cash out of them if necessary.
I understand that guys may also want some assets that might earn them income or even to be able to use their assets for collateral and to get cash in those kinds of ways, and I am surely not opposed to any of those practices, even though there are likely better and worse ways of employing capital in those kinds of ways... which can end up taking us all over the place, and so my own personal preferences continue to be mostly emphasizing discussion on bitcoin and cash ways of balancing investment portfolios, especially since we are in a bitcoin forum, even though I understand some threads (including potentially this one) may well be open to bringing in some discussion of other areas that guys might choose to hold some of their value or that they deem it helpful to have some of their value in some other assets besides bitcoin and cash.