Twitter Poll: Nearly Half Of All Crypto Investors Hold More Altcoins Than Bitcoins

A recent Twitter Poll in which over 10,000 users participated concluded that 47% of people taking part in the poll have more than 60% of their profiles as Altcoins.

The popular account that conducted the survey, @CryptoDonAlt later added to his survey.

“Everyone can invest however they like but the fact that more than 60% of you have 40%+ of your capital in altcoins worries me. Not speaking of the insane amount of people that are pretty much all in. I'll write an article about why I think that's a bad idea in the coming weeks.”

However, this poll has to be taken with a pinch of salt. DonAlt mostly talks about Altcoins or it is obvious that most of his 90,000 followers favor AltCoins.

Another recent poll done by crypto analyst Dane the Wave asked if a “newbie” were to have the capital to invest in crypto for the next four years, how the portfolio allocation should break down.

While this poll had a much lower number of participants, it gives much better investment advice. Just because of Bitcoin’s dominance of the crypto market. BTC dominance is the percentage of the total cryptocurrency market capitalization that Bitcoin takes up at any given point in time.

Bitcoin is the ‘gateway coin’ for a lot of investors; they buy Bitcoin BTC before purchasing other coins. This can be in part because of its near-universal listing on every active cryptocurrency exchange, but also because of its high-profile and low volatility.

When the crypto market enters a bearish trend, Bitcoin BTC dominance often increases. Its relatively low volatility means investors can maintain (some) value with their funds. During crypto market declines, this makes it a convenient asset for investors looking to keep their money in the cryptocurrency market, but wanting to minimize risk.

In bull runs, such as the recent few days, the situation is the opposite. While Bitcoin was close to breaking below 50% dominance, it has since risen 1% and is showing signs of strength. BTC dominance is regularly used to gauge the health of the altcoin market in comparison with Bitcoin.

Altcoins are generally a high-risk, high rewards tokens, especially the lesser known one. One should definitely diversify their portfolios but investing more than 60% of your coins in Altcoins can be seen as risky. However, if you like high adrenaline trading, this is the way for you to go.

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Sritanshu Sinha
Sritanshu Sinha
Sritanshu has a keen interest in emerging technologies, startups and economic anthropology. He holds the view that cryptocurrencies are the best bet humanity has got to push the world towards a borderless economy.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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