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Bitboy Crypto Shares Rebuilding Strategy After Losing Altcoin Portfolio

April 2, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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Well-liked cryptocurrency influencer Ben Armstrong, often known as Bitboy Crypto, lately shared a video replace on his channel detailing how he misplaced most of his altcoin portfolio on account of investing within the Celsius Community. In accordance 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% shall 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 Change Fee (SEC) is resolved.

Greenback-Value 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 strategy entails investing a set amount of cash right into a coin at common intervals, no matter its worth. Greenback-cost averaging helps traders scale back their threat 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 present blockchains that purpose 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 are going to assist remedy the present points with excessive fuel charges on the Ethereum community.

Though Ben’s strategy might not be universally relevant, it serves as a beneficial immediate for traders to conduct thorough due diligence and broaden their cryptocurrency portfolio so as to mitigate potential dangers.

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Tags: AltcoinBitBoyCryptolosingPortfolioRebuildingSharesstrategy
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