To diversify is also important but it depends on the way at which the diversification is taking place, some persons just have the mentality of diversify because they see others doing it without checking on themselves if they are fit to diversify, remember when you diversify you are protecting your initial investment from collapsing in future, the way you manage your investment matters a lot
As a new Bitcoin investor it is a wrong idea to reason diversification at your early stage of accumulation until you have gotten to a certain stage which you feel you can diversify, but if you are struggling to accumulate your portfolio, you are not doing well financially, it is adviceable not to diversify but keep accumulating until you can afford diversifying so that you don't end up losing both your already existing investment and your need investment.
Truly diversification is never a bad thing, it's a great idea because you are trying to not just protect your asset but you are trying to increase it from other source, the major problem about diversification is how is being done, that's where the problem lies.
You can't just start buying alt or meme coin and call that diversification away from Bitcoin, that's financial suicide, because those crypto can't replace Bitcoin, but if you are diversifying into real estate or gold it sounds logical, not alt or meme that falls more than they rise.
Furthermore, before diversifying into other reliable asset like gold, land and real estate you need to be stable in your Bitcoin investment first before thinking of other asset because too much distraction might limit the growth of any of them.
Before I usually find it difficult to diversify at some point, because I usually think about the circumstances involved in managing different things and different situations, My Bitcoin journey in a little while I must say is a revelation to me, because at some point I’ve been very active with some other business before coming into Bitcoin and that was a cornerstone to building my Bitcoin portfolio which I must say there have been grate deal to management my bitcoin investment, there have been some folks who have been in Bitcoin in a short time but have been able to accumulate enough bitcoin and they have been concentrating only on bitcoin that is to say that some people Bitcoin is there way of diversification which have been a major part of there success.
Perhaps at some point I want to diversify I can think about diversification into Some properties, most likely a real estate investment and also investing in gold as well which I think it’s a grate assets as well and some diamonds and some stocks as well, and I can decide to go into some businesses. But i wouldn’t appreciate diversifying into shitcoins or any altcoin which I know that there is no guaranteed foundation for altcoin which depends on Bitcoin to thrive why do I want to invest in that, that would be a catastrophe.