According to a new Twitter poll, over half of crypto traders on Twitter appear to hold the majority of their portfolio in altcoins, rather than Bitcoin…
The poll was undertaken by a cryptocurrency analyst, and prominent member of crypto Twitter known by the handle: DonAlt.
The poll asked a simple question: ‘How much of your portfolio is in altcoins?’
The results varied but ultimately revealed that 47% of crypto traders on Twitter held between 60-100% of value in altcoins.
A mere 23% of respondents hold 0-20% of their total portfolio in altcoins, alluding to a portfolio made up mainly of Bitcoin.
While Twitter polls can’t be classed as a verified and accurate source, with over 10,000 results, it does give us an indication of the general sentiment around crypto Twitter.
DonAlt addressed these statistics with a fairly concerned tone, stating that holding a large amount of capital in altcoins was a “bad idea”:
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.
49 people are talking about this
One user seemed to agree, stating that holding alts over Bitcoin was a recipe for disaster:
Anyone who goes lower than 40% $BTC better know what they are doing, if not it's a classic rekt recipe ..
Alt position should vary between 20-60% , depending on the nature of the market , reliable strategy ever!
Anyone significantly above 30% in altcoins should reconsider their life choices in my mind.
See DonAlt's other Tweets
Another suggested that it really depends on the size of your portfolio as to whether or not you’re truly at risk; adding that staking a lower amount on a high-risk asset could produce a much better return:
I think it depends on the size of your capital. A lot of these voters are only playing with 10's - 100's. Sure spec around in the shitcoins and grow it if you can but those who are investing in the 10k-100k range should definitely be in $BTC more.
Personally I wouldn't want to wait months for a 3x on $BTC if I was only risking 1 or 2k when there's infinitely more low sats out there that can 10x - 100x overnight.
See Logic's other Tweets
To be fair, It’s hard to not to stray into altcoins when you take a look at their historic gains over bitcoin.
For example, year to date returns on many altcoins have been huge in 2019, including Litecoin up 186%, Binance coin (BNB) gaining 207%, and PIVX returning a massive 335% since the start of the year…
In comparison bitcoin has returned just under 40%, nothing to be sniffed at but only truly momentous for those with a large stake.
