Only Bitcoin or diversify? - page 2.

Juggy777

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Quote from: ChrisTaylor on March 12, 2018, 06:41:08 AM

This one i guess is quite simple to the most of you. Recently i am kinda feeling that the smart thing to do would be stop growing my portofolio and start to look bitcoin as the only crypto investment for me. Just want to now your opinions on this because besides forums i cant really discuss this matter, let me know.

You're making a very sensible decision and one you'll be very happy that you made in the future, yes Bitcoins has it's baggage of risks but so does everything in life. We live life as it's promised when it isn't but with bitcoins one can actually make a lot more than he could actually dream of. Believe me just go for Bitcoins and you'll be very happy. Don't consider alts they suck.

galkina

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Quote from: ChrisTaylor on March 12, 2018, 06:41:08 AM

This one i guess is quite simple to the most of you. Recently i am kinda feeling that the smart thing to do would be stop growing my portofolio and start to look bitcoin as the only crypto investment for me. Just want to now your opinions on this because besides forums i cant really discuss this matter, let me know.

This depends on how much time you can give for crypto investment. Personally, I do not like investing in a number of coins because it consumes a lot of time. If you are doing all the work on your own, you will have to spend a lot of time reading about the different coins. Even after you have purchased those coins, you will have to keep tracking the price of all those coins and read news related to these coins. This is something suitable for people who have a lot of money to invest and also have a lot of time to spend for this.

BrewMaster

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There is trouble abrewing

if you look at some charts of bitcoin and other altcoins you will find your answer.
what happens in those charts is that if bitcoin rises, altcoins may drop. but if bitcoin drops they all definitely drop.
the other thing to look at is the rises that altcoins have. these rises happen only during a short time. for example they rise over the course of a week and then for a couple of months the coin can continually drop.

the conclusion is, altcoins are not good for investment so diversifying into them is not a good idea. but short term trading altcoins can be very profitable.

Qartersa

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The key is always to diversify. No person has ever become truly wealthy relying only with one source of income. Also, haven't you been keeping data on Bitcoin's price fluctuations? That, alone, should already put you on guard. Be wary because you never know when you wake up with absolutely nothing. Although I, myself, have been in the same situation whereby I mainly relied on Bitcoin for my sustenance. Nevertheless, what transpired in the last week of December 2017 to the early quarter of 2018 in comparison to its performance wherein it reached its peak of around $20,000 really made me realize how crazily active the market of Bitcoin is, which is actually a negative kind of active. You can lose so much in just a blink of an eye! It ain't sustainable surely! Hence, it is best to diversify!

pankowri

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I agree with others that investable capital should not invest only one sector.Due to collapse in the market,the complete settlement can be damaged.While investing,market portfolios should be kept in line with yours portfolio.You should keep in mind your expected return,risk free income and market beta.So,not only in crypto but also invest in shares,bonds,securities etc.

joebrook

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Quote from: ChrisTaylor on March 12, 2018, 06:41:08 AM

This one i guess is quite simple to the most of you. Recently i am kinda feeling that the smart thing to do would be stop growing my portofolio and start to look bitcoin as the only crypto investment for me. Just want to now your opinions on this because besides forums i cant really discuss this matter, let me know.

In terms of diversification, I am going to invest in Bitcoin as the only cryptocurrency and then i will invest my other funds maybe into real estate or Agriculture which is a very lucrative investment in my country with high dividends.

iv4n

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Quote from: brickafterbrickwalldpt on March 12, 2018, 09:27:27 AM

A lot of people always recommend to diversify your investment. Beside Bitcoin there are many altcoins which have potential to become more popular in the future which would cause their price increase. I keep most of my investment in Bitcoin because it seems to be the most profitable right now. I usually try to look for the best time to buy a certain altcoin instead of buying every I wanted in the same time. I always try to hunt for bargains. Going all in Bitcoin is a good idea only if you don't have much money to invest

Diversification is recommended because all other alts that cost close to 1000 dollars, some of alts crossed that mark already. When you look at the past when prices of that alts were less then dollar, you can see that many people made a very high profit on that alts.
Bitcoin price will grow, ethereum price will grow, neo will grow, but I'm sure that many alts that now cost less the a dollar will grow too, not all of them of course some of them are scams, but that is our job as investors to recognize true potential of alt before we invest some money.
Just had core people invest only in bitcoin, I think many others will have higher price in the future too. Nobody can say nothing for sure, entire market will grow and why not to have some from all the ones you like and find attractive for investing.

Kprawn

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I have noticed something in the several years that I have been into Crypto currencies and that is the following.

#1 The other Crypto currencies ends up as Bitcoin at some time in their life cycle. {The ones not supported by exchanges}

#2 The price of most Crypto currencies are closely linked to Bitcoin. When the Bitcoin price drop, most drop too.

#3 People without a good knowledge of Crypto currencies, almost always lose money. {Investing in the wrong coins}

The safest bet for most people with a average knowledge of Crypto currencies, should be NOT to diversify. Roll Eyes

Bellator

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Quote from: ChrisTaylor on March 12, 2018, 06:41:08 AM

This one i guess is quite simple to the most of you. Recently i am kinda feeling that the smart thing to do would be stop growing my portofolio and start to look bitcoin as the only crypto investment for me. Just want to now your opinions on this because besides forums i cant really discuss this matter, let me know.

Diversification is an idea that enables a businessman not to get bankrupt or lose everything he owns,it is necessary to have another option in owning a business.Though it takes alot of risk but putting all eggs in one basket may result to permanent loss.Being here in this cryptocurrency business everyone must be vigilant on doing some investments,just like investing to only one coin and putting all your money on it, i think its a wrong idea because you might lose all you have and can't recover again.Bitcoin is the strongest currency but we must think that we need another alternative coins if in case bitcoin would permanently crashed though its impossible to happen for now.Just telling the other side of risk when we invest,thinking that not all positive things would happen.

brickafterbrickwalldpt

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A lot of people always recommend to diversify your investment. Beside Bitcoin there are many altcoins which have potential to become more popular in the future which would cause their price increase. I keep most of my investment in Bitcoin because it seems to be the most profitable right now. I usually try to look for the best time to buy a certain altcoin instead of buying every I wanted in the same time. I always try to hunt for bargains. Going all in Bitcoin is a good idea only if you don't have much money to invest

paymentbit21

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I do not strongly believe in bitcoin, so I bought other coins for myself! you never know what to expect from the market (

Daria_daria1992

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I am completely in favour of diversification. It seems to me that the investment capital needs to be divided into several instruments. And bitcoin in this portfolio should occupy a significant part - about 50%. And the rest can be invested in altcoins and ICO.

Dblue

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Always diversify. Get a few coins in your portfolio along with bitcoin. Some altcoins will be good in the long run and you could find yourself making huge profits from the altcoins, maybe even more than your profits from bitcoin. It's always a good idea to have more than one exit

qiman

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I am always diversifying my assets as much as possible. I am holding mainly onto revenue generating altcoins and I have just a little Bitcoin. My next aim is to buy some land for the family at some point as well, so we then get into fixed assets. Bitcoin is a great store of value but I would not just hold Bitcoin as an an asset only in itself even though I do consider it an asset class coin. Once you have a lot of Bitcoin or are growing Bitcoin, it is good to diversify in other assets also, coin, metals and fixed assets as well if at all possible. That is just my personal opinion though.

crzy

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I tell you that I know a lot of people who advice me just hold BTC and said that if they just hold BTC(not buying any alts) they have much more money. And I know not many people who become rich just because of trading or buying alts.

Of course not all traders succeed because some of them are just pretending to be trader. Holding on one great coin is really good but this market has a lot of things to offer so better to explore more and you will find out other good things that can give you a positive outcome in the future.

bozo333

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Quote from: ChrisTaylor on March 12, 2018, 06:41:08 AM

This one i guess is quite simple to the most of you. Recently i am kinda feeling that the smart thing to do would be stop growing my portofolio and start to look bitcoin as the only crypto investment for me. Just want to now your opinions on this because besides forums i cant really discuss this matter, let me know.

Bitcoin is always independent coin this is more convenient to any other altcoins so Bitcoin is the best and right decision for choose this coin at the same time we analyse the latest technology because we upgrading ourself. You should split your portfolio is the right way you can invest in 50 percent Bitcoin and 50 percent of some potential altcoins is the good portfolio.

jhonjhon

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Quote from: ChrisTaylor on March 12, 2018, 06:41:08 AM

This one i guess is quite simple to the most of you. Recently i am kinda feeling that the smart thing to do would be stop growing my portofolio and start to look bitcoin as the only crypto investment for me. Just want to now your opinions on this because besides forums i cant really discuss this matter, let me know.

We really know how profitable is bitcoin from the start but it really make hard of today's market trend. It is a good idea not to only depend on bitcoin alone, we also take some altcoins as it consider to be another huge gaining profit at this time. But we still remember that, it won't go that fast, we still need to work for it.

btcprospecter

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Diversity is the spice of life. If you can find some alt coins that you believe can have a future then invest in them as well. It's true to be said tho that bitcoin is number 1and when it grows in value so do most alts more so one's that are often traded with bitcoin like eth and ltc.

AVAMONEY

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I can't deny that all coins are dependent on Bitcoin. In a sense, when Bitcoin rises it all goes up. This means the main investment is certainly on the side of Bitcoin. My personal opinion, of course I still choose diversity for investment. Because when prices start to fall, I will certainly take some decisions to sell some other coins to cover losses.

aardvark15

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Quote from: ChrisTaylor on March 12, 2018, 06:41:08 AM

This one i guess is quite simple to the most of you. Recently i am kinda feeling that the smart thing to do would be stop growing my portofolio and start to look bitcoin as the only crypto investment for me. Just want to now your opinions on this because besides forums i cant really discuss this matter, let me know.

I prefer to diversify because there are probably many coins that will outperform Bitcoin this year. We also don’t know for sure that Bitcoin will always be the top cryptocurrency. There are those that think Bitcoin will be the only coin to survive, but I think there is room for multiple altcoins to be used in addition to Bitcoin because each coins has its own specific purpose.

Topic: Only Bitcoin or diversify? - page 2. (Read 477 times)