New investors still needs to diversify and stay informed because it’s crucial to managing risk effectively. Most of the no coiners have regretted heavily of not investing long time ago, they should know that regret over missed opportunities is common in life. They should see now as an opportunity to start there investing journey, focus on the present and future because will keep rising and other cryptocurrencies.
I don't see diversification as a good practice in this crypto space because aside Bitcoin, their is no other crypto that is as reliable as Bitcoin, because Bitcoin has proven beyond reasonable doubt that it always recovers even when it dips in price, so it's safe to invest in Bitcoin only.
But if you are hell bent on diversification, then it should only be considered when you have gotten to that over accumulation status, and you should not be diversifying into alt or shit coin, but you should be diversifying into land or real estate, so you must get to that over accumulation status first before thinking of diversifying, if not, it's a wrong way to invest in Bitcoin.
Fair enough, if an investor decides to diversify then it should be clearly defined in regards to what the diversification is all about. As a bitcoin investor, it’s only advisable if you want to diversify, it should be in a space different from bitcoin and not diversifying into what is more correlated with bitcoin. And I also think it will do a bitcoin investor more good than harm to focus more attention in accumulating bitcoin gradually and build up his portfolio to a certain level where he feels he has gotten to his over accumulation stage or where his accumulation target has been met or even exceeded before thinking of diversifying into another space of business or investment. For an investor who is still in his accumulation stage, you don’t have any business with diversification, is not advisable to diversify into another thing, so you don’t end up having a divided attention at a time where your bitcoin investments really needs your focus, consequently you’re getting yourself into a shitty situation which may end up ruining your investment portfolio.