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?
If you have 50k for bitcoin investment and you are allocating only 10% for altcoin investments then I guess your strategy is good to go with. Because, altcoins may get you profits but in most cases it will depreciate over the time in BTC values but may get you profits in USD wise. It means you may choose bitcoin alone to enjoy better returns in USD terms. If you are lucky, you may get better returns in BTC terms then you can assume you did a great job. This is the reason, 10% risk of your total capital in altcoins is not a bad idea in my opinion as well.
I'm traditional equities trader that got involved with BTC in Feb 2020, and have fortunately bought at at every bottom since then.
Keep going. I like to suggest you like, instead of waiting for bottom to buy more, develop a practice of buying at regular interval. This way, if you are lucky you may get bottom prices or if market turns bullish you can be sure about not missing "possible bottoms".