Alexander Lorenzo warns against chasing every new cryptocurrency. Keep your portfolio to five coins or fewer, research thoroughly before buying, and compare any new coin to your weakest current holding before adding it.
Please, over-diversification. I've done it before. I've been down that route. I've gotten wrecked. I got wrecked. And you need to get out. This— the primary thing is lust. It's lust. New shiny objects, new opportunity. You gotta move. You feel it, you get emotionally excited. Oh, it's a really good idea. You don't even understand the complete idea for real. You don't take time to do research. You don't, you know, take time to really dissect it. You just freak out and you buy the coin, right? Take your time. Patience pays, especially in this market. It's— that's an insane amount of risk, bro. 20 coins, 10, even 10 coins. It's like, bro, that's— bro, like, I hardly get over 5, and I have a full-time researcher, and I've been doing this for 6 years. I hardly get over 5. And if I find a new coin number 6 that I really, really like, what I'll do is I'll actually just compare it to the weakest coin of my 5 list.
