it isnt really bad to bag off the current top #10 ranking coins in the market which it might be resulting into much better profits on the time that the market would be making out some bull runs but
you should really make yourself believe nor being sure that it would happen.No one would be able to point out on what would happen in future years to come. If you do see that this one would be a good tactive
then its up to yours whether you would be taking such action or not.Just make it sure that you are really be able to bare up with the risk for whatever decisions you would be taking.
As we can see by OP's post, it's really risky to invest in top 10 cryptocurrencies, with bitcoin and one or another exception, because along the years the top 10 changes constantly, and some cryptocurrencies which were at the top simply melt. By looking previous years' top 10s, I don't even know what some of those altcoins there are. So why to risk so much on them, while we have a safe bet on the top all these years, that is bitcoin? For me that is the most reasonable decision to take. There is no reason to be greedier, since the profits bitcoin can generate us are already pretty considerable, surpassing the potential of any other investment category outside crypto industry.
Yes, if we compare bitcoin returns with other financial markets, bitcoin is still the best return, but people want more, and altcoin is their choice.
Personally, I don't hate investing in altcoins but make sure that the bitcoins in your portfolio make up the majority and only a small part of your investment in altcoins.
For me, top altcoins or new altcoins are equally risky, if you invest in altcoins, invest with research instead of just picking top coins, there is no guarantee that top altcoins top will bring profit to you.
Well, a lot of the answers regarding how to invest, and the extent to which any diversification is necessary or warranted or that any reliance on a top 10 list would also justify diversifying the amount that you have to invest may well have to do with a variety of factors that involve from where you are starting in terms of how much capital that you have to invest, what are your already existing investments (if any) and what is your cashflow.
It seems to me that when you are brand new to investing, then it may well be best to start to build your investment portfolio with a small number of investments, prior to diversifying out, so in that sense there are needs to figure out which assets you are going to invest into and then to begin to potentially diversify out as your investment portfolio starts to grow.. perhaps you might not even diversify out further than having dollars and bitcoin until your investment portfolio becomes greater than something like $10k.. and for some people the amount might need to be higher before there is comfort diversifying out.
Let's say, for example, that a person has an annual income of $24k, and if the person figures out that s/he can invest 10% of that income into various investments, then we can calculate out that if the investment does not grow beyond merely putting in 10% per year, then it is going to take 10 years to build the investment portfolio up to 1 year's worth of income. So, sure there are desires to accelerate that process and to cause your investment portfolio to grow faster, especially since it might take 20-30x your annual income to really feel like you have reached something like fuck you status, if that happens to be amongst your goals.
So, yeah, it has already been mentioned several times in this thread that there is a kind of need to account for risk, and there should be goals of building your investment portfolio without losing principle, and if you are already starting with a investment portfolio that might be near one year's worth of salary, then you might feel that it is o.k. to spread that out a bit, yet the idea of diversification does not really make a whole hell of a lot of sense when it comes to diversification within the same field or within similar kinds of asset classes, and so usually diversification is going to apply into differing kinds of asset classes rather within the same field.. and anyone with any kind of meaningful ability to assess the "crypto" space, should be able to clearly recognize and appreciate that bitcoin is the leader and most if not all of the other cryptos (shitcoins) are actually correlated and dependent upon bitcoin's performance, so largely to invest into shitcoins, you are largely just adding risk onto an already risky investment (bitcoin is a more risky investment than a variety of other investment classes.. but at the same time, bitcoin may well be amongst the best, if not the best asymmetric bet that is actually available.. so why fuck around with diversifying it and diluting your investment into it? by investing into shitcoins? or at least why invest more than maybe 10% or maybe 20% if you happen to be a kind of degenerate gambler of your crypto portfolio into shitcoins (meaning 90% should be in bitcoin and maybe only 80% if you happen to be a degenerate gambler.. hahahahahaa)....
The mere fact that there are coins in a top 10 list does not create any kind of investment case for them, unless you study why they might be adding any value beyond what bitcoin is adding and maybe studying to make sure that you actually understand what bitcoin is actually providing and why it is such a strong and great asymmetric bet. Look at some shit like ethereum and try to figure out if it is adding anything beyond possible short-term pumpamentals?.. yes, sure some of the coins and the projects (and even considering BNB like a kind of utility coin that is attached to the exchange) may well have abilities to short-term out perform bitcoin.. but how much of your overall crypto investment portfolio you going to put into it? Versus perhaps diversifying into equities, bonds, property and perhaps commodities - order to potentially off-set some of the volatility of your bitcoin investment as it will likely get larger with the passage of time, and sure if you are new to investing then you might feel that you can be a bit more risky since you have time to make it up if you lose out, but if you realize that it could take you 10 years to build your investment up to 1 years worth of salary, then you might want to consider how much money are you trying to build up such investment portfolio in order that potentially you would have the option to work or to choose the kind of work that you do rather than being dependent upon work in order to provide for you monthly expenses.