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.
There's nothing you can do if he would be choosing up altcoins over Bitcoin? We do know that when it come into that % increase or potential profit, then altcoins could really be able to give it out that much more better gains on which this is that understandable. In the questions about on how many altcoins would really be that trying out to hold? Then it will really be that up to you on which on how many altcoins that you are really that trying out to hold. Its your money and since its been said or mentioned that you are already that prepared or have already accepted out for it to lose then thats a good thing to hear because its never been that recommended that you should be trying out to invest or put up your life investment or emergency funds into it on which that would really be that a suicide decision to be made.
If you do already been here on this market for a while now, then it will be just that too impossible that you arent that still familiarized into the market movement that we do have. If you do want to have that at least having some solid choices then you can always choose up those top ranking ones, but if you are that wanting to deal with low caps or having those cheaper prices or low rankings then it will really be that up to your choice. Just make it sure that you will really be that not making yourself that being too careless when it comes to choices or selection.