Fashionable cryptocurrency influencer Ben Armstrong, referred to as Bitboy Crypto, lately shared a video update on his channel detailing how he misplaced most of his altcoin portfolio attributable to investing within the Celsius Community. In line 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 speculate 30% of his portfolio into Bitcoin and Ethereum, whereas the remaining 70% shall be unfold throughout the next cryptos:
- Polygon (MATIC)
- Optimism (OP)
- Arbitrum (ARB)
- Hedera Hashgraph (HBAR)
- Cardano (ADA)
- Web Pc (ICP)
- Solana (SOL)
- Polkadot (DOT)
- XRP (XRP)
Ben believes that these cash would be the main performers of the subsequent bull run, particularly XRP, which he expects to skyrocket as soon as its lawsuit with the Securities and Trade Fee (SEC) is resolved.
Greenback-Value Averaging (DCA)
To keep away from shedding an excessive amount of cash attributable to market volatility, Armstrong plans to dollar-cost common his investments into these cash over time. This strategy entails investing a set amount of cash right into a coin at common intervals, no matter its value. 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 high of current blockchains that goal to extend scalability and decrease transaction charges.
He believes that layer twos will play a big position in the way forward for decentralized finance (DeFi) and that they’ll assist resolve the present points with excessive fuel charges on the Ethereum community.
Though Ben’s strategy might not be universally relevant, it serves as a helpful immediate for buyers to conduct thorough due diligence and broaden their cryptocurrency portfolio in an effort to mitigate potential dangers.