How to allocate Bitcoins in your crypto exchange wallet
Good morning Steemit friends!
This will be a short explanation on how to budget and allocate your bitcoins in your wallet particularly in the exchange.
The 50% of your bitcoins can be purchased for other altcoins for maximum profit potential. Having many diversified coins with their strengths will surely boost the percentage gains in your coinfolio. Having this mindset will always make you diversified.
The 25% will be a liquid bitcoin that can make purchases to the altcoins. This is the part of the pie where in when you spot a good buying opportunity, this is the one to buy it.
The last 25% should be the follow-up Bitcoins. When I say about this, it is for adding volume to your winners. It is called averaging up. So that the profit will be bigger. Having advanced technical analysis or even a momentum trader can do this.
That's all 3. Having the budget can make your trading life less stressful and as well give you a fast execution when you need to buy or sell something in the blockchain industry.
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Bitcoin Sign Guy!
This is the picture of the guy who held up the "Buy Bitcoin" sign.
Thank you for sharing your thoughts on organizing a budget for a 'coinfolio' (love that term). I'm having trouble understanding the difference between numbers 2 and 3.
They both seem like they are in reserve waiting for the right opportunity to buy. Is the difference only that 25% is dedicated to boosting existing altcoins that are doing well? . . and the other 25% dedicated to buying new altcoins to add to the coinfolio?