Thinking about diversifying my portfolio a little bit but not sure if I want to eat the fees or just keep it all BTC.
Currently, my Gemini account is 30% BTC, 30% ETH and 40% USD$
I have also Binance and Bittrex trading accounts... for about 12 more alts.
Diversity is key to growing wealth.
The Citronick System:
Every Monday - I see if BTC or ETH is high enough so that I can sell. If NO - do nothing.
Every Friday - I see if BTC or ETH is low enough so that I can buy. If NO - do nothing.
At the moment, BTC dipped below 15,900$ support -- so I will buy.
ETH is strong at 1225$ ATH and the rally since weekend show a lot of accumulation --- so I will sell.
RINSE and REPEAT.
Absolutely diversify your portfolio! True with stocks, 401k and other investments... also true with Crypto! I've got roughly 1/3 BTC, 1/3 ETH, and 1/3 in other alts. Those other alts are also diversified by type... meaning don't put all your eggs into the Privacy coin (like XMR etc) basket... branch out and get into storage-based coins (like Burst, Sia, Storj), other smart contract coins, medical field coins, etc, etc. This methodology has enabled me to mitigate losses on big BTC downswings. Granted, this market is crazy and nobody can predict what will happen, but at least recently, alts have made huge gains vs BTC. I know a few you-tubers were preaching moving all of their altcoin investments into BTC back in early Dec. If you followed that advice you would have lost big time as BTC has gone from about 52% of the total crypto market value to under 35% currently.