I choose to support the phrase never put your eggs in one basket, we all know the risks that may and have accompanied crypto investors buy holding their investments in one coin.
- Fear of coin depreciating.
- Bearish trends create panic.
- Bubbles popping
- Wallet Misplacement/ Exchange site freezes or hacks.
- Selling low after buying high.
I came to realize that having split my 1 bitcoin into many different coins using the Upper cap, Medium Cap and lower cap approach registers more profits in a week than bitcoin gains in the same one week.
The Upper Cap, Medium Cap and Lower cap approach works.
So how do you differentiate the Market caps.
Visit https://coinmarketcap.com/
Upper cap
Coins value ranges between $7.5 and are listed among the top ten on coinmarketcap.com depending on the volumes they have been trading at, that is their market cap. I have highlighted some of the upper caps on the picture below.
Medium Caps
Prices against US dollar range between $0.1- 7.4.
Lower Caps
Prices range between $0.1 and below.
Best example is digibyte, digital note, bytecoin, Siacoin and doge which registered the biggest gains in the last 2 months.
This approach practices diversification and lenders more profits compared to holding in one basket.
DISCLAIMER!!!!
Before investing in any coin make sure you conduct enough research on what the coins purpose is and what people and the news are saying about it on sites such as.
Cryptocompare.com
Reddit.com
Cointelegraph.com
If you feel that your view is different dont hesitate to comment below.
COMMENT,RESTEEM,UPVOTE,FOLLOW
Very Informative, thank you!
you are welcome, and you just earned yourself a follower.
you are welcome, keep it diversified
Cool! How many of the current currecies do you think will be here in 10 years. I think steem will make it.
Thank you.
Steemit will be there thats for sure, New currencies will have risen and the current ones will have gained value 100 times maybe, some will have collapsed especially if they do not have a purpose. Kindly follow back and resteem if you think the blog was helpful.
Nice, I'm working myself up to it, almost ready to jump in within the next week. Long term and short term strategy being developed. Diversification is the key.🐓
very true diversification is an important aspect, when jumping in remember the right lower caps register the most profits.