Part 5/8:
Transactional flipping between assets in pursuit of quick gains is another trap. This whiplash effect keeps traders in a cycle of churning, often resulting in diminished returns. Instead, maintaining conviction in select assets while patiently holding during market fluctuations is emphasized as a more sustainable strategy.
4. Resist Over-Diversification
Traders often overload their portfolios with too many altcoins, complicating management and diluting focus. A concentrated portfolio of 10 to 15 well-researched assets is recommended for effective wealth building, with further diversification considered only for wealth protection.