Profit During A Bloodbath - You've Been Told How, So Why Aren't You?

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Crypto News
Well, it seems i'm a member of a very small group of people right now: People who made a profit in the crypto market over the last 48hrs.

Before you send off the angry tweets - yes, there's also some days where most people made a profit and I don't, and yes, some of it is pure luck.

But today, my obsession with altcoins saved me.

While those who focus on the 'safer' top coins are feeling the pain - it's not a bloodbath everywhere. Take a look at some of the coins that managed to gain during the onslaught...

The point of this isn't to give some long rambling article where I encourage people to buy some of the coins I hold, I wouldn't, and it would get me fired.

But I do want to remind everyone of something you've heard so many times it can lose it's importance - diversify your investments!

Why? Because of days like this.

That's why you won't find any of the top traders, from crypto to the stock market, arguing against a diverse portfolio. Ask yourself if you're in a position where you can imagine everything you own tanking all at once. If the answer is yes, consider selling some, maybe 30% of it, and putting those funds elsewhere.

Also, this doesn't mean just a diverse list of cryptocurrencies.  You should own some stock, you should own some commodities.

Like many in the crypto world, i'm a younger, recent college graduate and member of the 'millennial' generation - and crypto was the first thing I ever made an investment in. But now that I've been in it for a few years, I should have some lessons learned - we should all aim to become smarter, and wiser investors every year.

So listen to those with more experience, and absorb as much as you possibly can.  On that note, my only point today is something you'll hear every one of those experienced investors say - DIVERSIFY!

Author: Otto Bauer

Euro News Desk

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