Common cryptocurrency influencer Ben Armstrong, generally known as Bitboy Crypto, lately shared a video update on his channel detailing how he misplaced most of his altcoin portfolio on account of investing within the Celsius Community. In keeping with him, his portfolio plummeted from $35 million to $3 million in worth, and he needed to rebuild it from scratch.
Rebuilding the Altcoin Portfolio
Ben’s technique to rebuild his altcoin portfolio is to diversify his investments throughout Bitcoin, Ethereum, layer twos, and layer ones. He mentioned he plans to take a position 30% of his portfolio into Bitcoin and Ethereum, whereas the remaining 70% can be unfold throughout the next cryptos:
- Polygon (MATIC)
- Optimism (OP)
- Arbitrum (ARB)
- Hedera Hashgraph (HBAR)
- Cardano (ADA)
- Web Laptop (ICP)
- Solana (SOL)
- Polkadot (DOT)
- XRP (XRP)
Ben believes that these cash would be the main performers of the following bull run, particularly XRP, which he expects to skyrocket as soon as its lawsuit with the Securities and Trade Fee (SEC) is resolved.
Greenback-Price Averaging (DCA)
To keep away from shedding an excessive amount of cash on account of market volatility, Armstrong plans to dollar-cost common his investments into these cash over time. This method entails investing a set sum of money right into a coin at common intervals, no matter its worth. Greenback-cost averaging helps buyers scale back their danger of shopping for excessive and promoting low.
Ben talked about that he’s significantly bullish on layer twos, that are options constructed on prime of current blockchains that intention to extend scalability and decrease transaction charges.
He believes that layer twos will play a big function in the way forward for decentralized finance (DeFi) and that they’ll assist clear up the present points with excessive gasoline charges on the Ethereum community.
Though Ben’s method might not be universally relevant, it serves as a precious immediate for buyers to conduct thorough due diligence and broaden their cryptocurrency portfolio so as to mitigate potential dangers.
