According to U.Today, renowned trader and creator of the Bollinger Bands indicator, John Bollinger, has shared crucial advice on investment and portfolio management. Bollinger emphasized the need to exclude 'cruft' assets from portfolios, arguing that this strategy would enhance the effective management of remaining investments. This advice aligns with Walter Diemer's strategy, which prioritizes identifying what to relinquish over what to acquire.
Bollinger's guidance is particularly pertinent in the current market, which is inundated with a vast array of financial instruments, especially in the cryptocurrency sector. Presently, there are over 2.4 million different crypto assets with a combined market capitalization of $2.14 trillion. Given the sheer volume of assets, which can be daunting for investors, Bollinger's advice on portfolio optimization is highly relevant.
Bollinger is also known for his regular insights on Bitcoin price movements, providing timely analysis that is widely followed by traders and investors. In his most recent analysis, Bollinger predicted further consolidation of Bitcoin following the reversal of two candles on the lower Bollinger band. This prediction was validated as Bitcoin initially rebounded and rose by 4.73%. However, shortly thereafter, the main cryptocurrency experienced a significant price drop, falling by 16.21% from $64,000 to $53,500 per BTC.