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So after 138 days, Bitcoin price is still hovering around 70,000 USD. If you only hold $BTC , your account is only about 5% negative. This is such a small level of fluctuation for crypto, it's not even worth paying attention to.
🤔BUT, I am sure that 99% of investors do not choose to only hold BTC. You either hold more ETH, or allin altcoin, and worse, withdraw capital to bet on shitcoin memes on DEX exchanges. This led to the account being divided, although the BTC remained almost intact.
👉=>> As a result, your investment process is more difficult, more stressful, but the profits are worse than just buying Bitcoin and doing nothing! So in short, where did you (and even myself) go wrong in your investment strategy?
💥PUT MANY SHOTS IN 1 BASKET
Maybe many people will argue that they have divided their capital into many different coins, so it cannot be called putting "many eggs in one basket". => That's true, but it's not enough.
The 3 largest baskets in the crypto market currently are Bitcoin, Ethereum and THE REST OF THE ALT. If you don't divide enough eggs into all 3 baskets, I'm sure your investment in the past half year, and the coming months, will be very difficult and not achieve optimal results.
Currently, I recommend that you spend at least 50% of your capital on BTC and $ETH . The remaining 50% is used to collect favorite altcoins. Try allocating capital this way and come back here to share the results after 1 month ^^.
💥TRY TO ACCURATELY TIMING THE MARKET
I chose to go all in on altcoins, because I think at this point BTC has increased too much and is no longer able to break out. Some people also think that this season altcoins spawn too many more, BTCDOM will hardly return to the 70% mark, altcoin season can happen right at the BTCDOM mark of 50 - 55%.
===> As a result, DOM continues to grow, capital flows still prioritize Bitcoin, we have not seen altcoin season anywhere, we only see people losing money because they tried to predict the market and the timing was wrong!
In fact, timing the market correctly is very difficult. But you can compensate for the error by investing capital appropriately.
For example, with $BOME , I was not sure that the 0.006 - 0.008 area was the bottom of the recent decline, so I divided my capital to collect every day for more than 2 weeks. So, even though there are days when you buy at the top, your account is still positive because the days of successful bottom fishing make up for it.
👉There are many mistakes that cause you to lose money and I will continue to share them in the following posts. For now, please read the above two errors carefully to change your investment strategy to suit yourself! REMEMBER:
Allocate capital to both BTC, ETH and ALTCOIN 💪
Divide capital into parts, buy multiple times when you want to collect any coin. Similarly, when selling, it is also necessary to divide into many parts and sell at many prices. 💪
