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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.
How much of your portfolio is in altcoins?
— DonAlt (@CryptoDonAlt) April 9, 2019
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.
— DonAlt (@CryptoDonAlt) April 10, 2019
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.
One user seemed to agree, stating that holding alts over bitcoin is a recipe for disaster:
Anyone significantly above 30% in altcoins should reconsider their life choices in my mind.
— DonAlt (@CryptoDonAlt) April 9, 2019
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:
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.
— Logic (@Logic_BTC) April 9, 2019
To be fair, It’s hard to not to stay 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.
Read more: The 10 best performing altcoins since Bitcoin's price pump