The best way to make bitcoin nowadays is through trading. Since exchangers such as poloniex and yobits add many altcoins to their trading platform it becomes easy to make a lot of profits from daytrading. The opportunity for diversification is there as you have option of 100 of altcoins to trade from.
When people talk about diversification they don’t talk about holding different coins, you are still invested in cryptocurrencies, when people talk about diversification, most of the time they refer to investments in different areas of the economy, for example gold, real estate, stocks, bonds and others.
Yup.
Diversifying in altcoins is essentially just a bad idea. If you want to invest in assets that vary between tangible goods and digital goods then be my guest, but for a lot of people there is no point in spreading their value through multiple cryptos because most of them just end up depreciating in value and losing money. It's all about the get-in-and-get-out game that's going on. Go in early, wait for the pump, dump and then run off with money.
We have different strategy, you cannot generalize that altcoins are just made to pump and dump because there are legitimate altcoins now who are making a good journey to the top. One of my favorites are ethereum, I was able to follow it's movement regularly and I am quite convince with its current price now, as long as anyone will understand that altcoins has a good uses also, they will surely gonna do it for long term.
yes I agree with this.
not all crypto is just pump and dump, grab the profits and run away.
There are definite positives to trading in Alt Coins/currencies and some are
in fact get in, hold, sell and run away very quickly.
alternatively there are really great promising Crypto/Blockchain projects
which have the potential to change the "backroom" operations of a lot of
web based tools/websites.
So identifying what has potential is the start, investing in it and
holding the investment for the long term could see a really positive
return on the initial investment.
For me also Ethereum is one of those projects especially with the
Ethereum token contracts.