Crypto Diversification is Vital... But That Doesn't Mean Go Out and Load Up on Shiba Inu!

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What is Bitcoin? Bitcoin is a decentralized cryptocurrency that can be transferred over the internet. Bitcoin has made news headlines recently because the price of Bitcoin has skyrocketed in value, which means Bitcoin can be potentially very profitable to own!

However, Bitcoin isn't your only option when it comes to buying into cryptocurrencies. There are hundreds of other cryptocurrencies (known as 'altcoins'), and many others that will continue to come out within the next couple years.

I'm going to preface this article with saying something you've probably heard before: Never invest more than you're willing to lose! Cryptocurrencies are an extremely risky investment (this also goes for Bitcoin, Ethereum and every other cryptocurrency). Bitcoin has shown that it can be a very rewarding investment, but there is no guarantee Bitcoin (or any other cryptocurrency) will continue to increase in value.

The future of Bitcoin and altcoins is anything but certain! Cryptocurrency technology is still relatively new and it's difficult to predict what the future may hold. We know Bitcoin has been able to gain a lot of value within the past couple years, but if Bitcoin were to experience a 'crash', those who invested could lose all their money from one moment to next. Although Bitcoin experienced many crashes during its time as a high-value currency , Bitcoin always recovered to become stronger than ever! Given this information, I would NOT recommend investing everything you own into Bitcoin.

So, what other cryptocurrency should I invest in? This is a great question because there are many other cryptocurrencies out there to choose from! I would guess that Bitcoin has been the most popular choice thus far, but it may be worth taking a look at some of the alternatives.

I'm going to recommend you look here for your alternative choices : https://coinmarketcap.com/ . While this list isn't complete and will likely be updated often, it's a good place to start! If Bitcoin does crash and begins losing value rapidly (as Bitcoin has done before), the prices of these altcoins could potentially skyrocket as Bitcoin continues to lose its value... although this situation could also happen with Bitcoin if Bitcoin crashes either way, Bitcoin remains the less risky investment.

If Bitcoin does crash and begins losing value rapidly (as Bitcoin has in the past), many Bitcoin investors will purchase Bitcoin in hopes of buying the dip. Because Bitcoin is so much more expensive than all the cryptocurrencies listed on coinmarketcap.

Memecoins like Shiba Inu have started to become popular... Why? Because unlike Bitcoin, they were created to be worth very little! Although many people have already made thousands of dollars off buying the Bitcoin 'dip' before Bitcoin rebounded , there are still those who have not... cryptocurrencies are an extremely risky investment but also extremely profitable!

Remember, if you invest too much into one cryptocurrency, your losses could potentially become unbearable. If Bitcoin crashes, you always have other choices to fall back on. I'm not saying that Bitcoin will crash nor am I trying to scare you away from investing in Bitcoin completely! Rather, I'm trying to let people know that it may be a good idea to diversify their investments into multiple cryptocurrencies - this way if one cryptocurrency begins crashing (which has happened many times with Bitcoin), one other may do well.

Personally, I hold a basket of good (not Shiba Shitu) altcoins and diversify with stablecoins when I think the market is getting overvalued in the short term. I'm hoping one day to move those stablecoins back into the core positions and "buy the dip"!

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with the crack down on stable coins..How can one safe guard there earning..With out pouring more funds in risky investments and may be the shib(lol).

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