The crypto community is an opinionated bunch. Everyone has their favorite coin, be it bitcoin or an altcoin, and investors with other crypto enthusiasts.
They also , and in a recent poll, it was revealed that the majority of crypto investors are predominantly maximalists, despite thousands of altcoins being available in the crypto market.
68% of Crypto Investors Prefer bitcoin, Altcoins Are an Afterthought and a Risk
A recent poll was shared on by crypto analyst Dave the Wave, whose recent analysis includes looking at the in order to conclude if the . In the poll, the long-term chartist asks if a “newbie” were to have capital to invest in crypto for the next four years, how the portfolio allocation should break down.
So say a newbie has a sum of money to invest for the next 4 years in Crypto. What would you suggest?
— dave the wave (@davthewave)
Of the options available for respondents to choose from was “all in BTC,” “all in alts” such as Litecoin or EOS, “30% in BTC, 70% in alts,” or “70% BTC, 30% alts.”
The overwhelming majority voted that leaning heavily toward bitcoin allocation in one’s portfolio, while having at least some exposure to alts is the best way to invest in cryptocurrencies. A whopping 42% of respondents voted this way.
Related Reading |
Following behind with a little more than a quarter of all votes at 26%, is the recommendation to be all in bitcoin. With bitcoin being the first ever cryptocurrency, the crypto with the most , it shouldn’t be surprising to see bitcoin being recommended as the bulk of one’s crypto investment portfolio.
Next up, with 22% of the votes is the recommendation to invest in 30% bitcoin, and the remaining 70% in altcoins such as , , , and others. These investors see the possibility of more returns by investing in altcoins, however, realize that bitcoin should be included in any sound crypto investment strategy.
Related Reading |
The least recommended of the options, was going all in on alts. Cryptocurrencies are a risky asset class in general. Add in thousands upon thousands of altcoins with little to no use case currently, and there’s a recipe for disaster for the uninformed investor. Most altcoins have only been on the market for half of bitcoin’s existence, many less, and have had less time to develop a working product or gain recognition in the industry.
The grand total of bitcoin maximalists responding to the poll clocks in at 68% of all 1700 voters, leaving the remaining less than one-third either only or primarily focused on altcoins. While strategy, an which would result in the smallest percentage of investors realizing the most short-term gains.
Featured image from Shutterstock
Published at Thu, 14 Mar 2019 01:01:41 +0000
