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0 sats \ 4 replies \ @Karlm 17 Feb \ on: What exactly are you buying with $50000? bitcoin_beginners
Is having a diversified cryptocurrency portfolio more likely to increase your chances of becoming a crypto millionaire compared to having a non-diversified portfolio? Do individuals who achieve millionaire status through cryptocurrency investments generally have diversified portfolios?
How are you diversified if all the assets you're buying are correlated and just leveraged bets on Bitcoins movement?
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If you want to diversify you want things that perform inverse of one another in different conditions. This would be into assets that have less correlation to lets say Bitcoin, you would look at cash, precious metals, real estate, fixed income, and try to play the flows, I am no trader myself, i stick to what I know and what works for me