Hi all,
New here. I'm traditional equities trader that got involved with BTC in Feb 2020, and have fortunately bought at at every bottom since then. Diving into altcoins, I'm wondering how many coins do y'all recommend one should hold at one time? Let's say I'm still just dabbling and want to invest $5k (OK with this going to zero), how many altcoin do you recommend that I'd invest in for the risk reward to be 10x or 0?
Thank you,
You have been into bitcoin since 2020, let say for 5years now, I'm sure you are suppose to know better in the crypto market. Altcoins are very risky and you need to do your research before investing in any Altcoins. From the time you have been into bitcoin it is enough for you to observe the market and to know if Bitcoin or altcoins have more risk to invest. I will always recommend Bitcoin because it is safe and reliable for investing compare to other altcoins.
The title should probably be changed to how many bitcoins should you own at any one time, not altcoins. Because bitcoin is the future and the risk is lower compared to altcoins, especially since there are tens of thousands of altcoins, many of which end up losing money and some are scams.
But maybe I understand what the OP means, because he has been in the crypto world for almost 5 years, that means he has invested in bitcoin and has made bitcoin a priority. But he wants to invest in altcoins too, so for altcoins it is better to look for altcoins that have a good community and fundamentals in this case I suggest investing in altcoins that are in the top 10. But don't make altcoins for the long term, when you have a profit, switch everything to bitcoin because bitcoin is a very ideal asset for the long term.