1Mon·

Bitcoin

I'm thinking of increasing my $BTC (+0.78%) position by £50 tonight and thought I'd ask here for feedback before doing so. I'm fairly bullish about Bitcoin and think that if I hodl for a while, I will be rewarded. My plan is to go for 5-10% of my portfolio in crypto in the medium term.

Any constructive criticism of my plan is very welcome. I currently hold some Bitcoin and $XRP (-1.08%) Should I also add some $ETH (+0.66%)
$SOL (+1.28%) or others as well to diversify? I'm assuming that these all have excellent potential as they're part of Trump's strategic reserve. I could do with some help from Trump after his tariffs caused by portfolio to tank in its first month.🤣

8 Comments

Stefan21@stefan_21

1Mon

Just go for Bitcoin and ignore the altcoins. Thank me later✌️
You can speculate with altcoins in the short to medium term, but long-term investing via dca makes no sense.

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David@MarketMage

1Mon

Thank you for your input, I'll bear it in mind. I'm actually thinking of going for maybe 7.5% portfolio crypto and will consider keeping it simple with just Bitcoin. Especially given that I'm still something of a newb right now.

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Stefan21@stefan_21

1Mon

@MarketMage Focus on Bitcoin, read some books, listen to podcasts, watch videos - it will be worth it.
There are still very few people who really understand Bitcoin and realize the potential behind it.
For example, I could highly recommend The Bitcoin Standard by Saifedean Ammous and Broken Money by Lyn Alden :)

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David@MarketMage

1Mon

@stefan_21 I'll check out those recommendations now. I'm fascinated by Bitcoin and crypto generally for many reasons.

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Mo@BigMo

1Mon

@stefan_21 I fully agree with @stefan_21. I went through this experience and hodl'd a fortune in altcoins to almost nothing, back in 2017.
99% of these altcoins never recovered.

Now, I'm just in Bitcoin and kept a bit of Ethereum with a decent entry price.

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David@MarketMage

1Mon

@BigMo You might both have saved me a lot of money. I'll do some more research and make a decision. I'm not inspired by what I know so far about Trump's crypto reserve. I still expect a decent increase in Bitcoin's price by the end of the year though, what do you think?

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HarryHirsch@harryhirsch11

1Mon

@MarketMage What would be the reason for a price hike?

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David@MarketMage

1Mon

I'm hoping that the usual increase happens about a year after halving and institutional adoption increases.

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