Hello guys
I am starting to go into trading and holding altcoins for myself, I got to understand that there are over millions of altcoins to choose to invest in, so I decided to come up with a strategy that would help me choose the best coins to hold as the bull run is around the corner. I went to coingecko and decided to choose coins from different categories, what do I mean, coins fall under certain categories like the layer 1, layer 2, Memes, infrastructure, Blockchain ecosystem, smart contracts platform, web3, and the rest.
What did I do, I choose the first 5 coins under these categories and decided to buy and hodl them with 50 USDT each. Am I on the right track or is there any other way I can do more better.
Portfolio diversification I am starting to go into trading and holding altcoins for myself, I got to understand that there are over millions of altcoins to choose to invest in, so I decided to come up with a strategy that would help me choose the best coins to hold as the bull run is around the corner. I went to coingecko and decided to choose coins from different categories, what do I mean, coins fall under certain categories like the layer 1, layer 2, Memes, infrastructure, Blockchain ecosystem, smart contracts platform, web3, and the rest.
What did I do, I choose the first 5 coins under these categories and decided to buy and hodl them with 50 USDT each. Am I on the right track or is there any other way I can do more better.
, perhaps a misunderstanding of a common market. I think applying it depends on the scale in the investment process and here with altcoins, you only think about profit target. Are you willing to take the risk? For me, altcoin is something that I think saves more than bitcoin, but the investment portfolio with it only accounts for a small part. Perhaps due to perception and strategy, there is not much to contribute opinions to. I know some of the reasons that many people like OP are paying attention to these keywords in space, although I also think it's an opportunity, but honestly it has many risks because just one fluctuation in bitcoin will cause most altcoins to drop.The altcoin FOMO in this period I see has many similarities with the periods when money flows into the market, short-term perspective when capital flows into bitcoin > distribution > top altcoins > mid-range altcoin distribution > strong trend altcoins tone > shitcoin distribution, a complex process by which sharks can accumulate more stock and liquidate profits. So, if you have your own strategy, be realistic about the risks, and be ready for unfavorable scenarios.
