為什麼以比特幣為中心的加密投資組合是一個錯誤：多元化的重要性

每個市場參與者的投資策略、方法和原則都不同，但多元化是所有精明的投資者似乎都遵守的一條規則，而且有充分的理由。

The world of investing is filled with a diverse range of strategies, approaches, and principles, but there's one rule that all astute investors seem to abide by and for a good reason: diversification. It's the simplest and most effective way to manage risks by building a portfolio that includes a variety of assets from different classes and categories. In case one asset doesn’t behave according to expectations, it won’t drag down the entire portfolio, as the rest of the holdings will ensure its resilience and continuity.

投資世界充滿了各種各樣的策略、方法和原則，但所有精明的投資者似乎都遵守一條規則，並且有充分的理由：多元化。透過建立包含不同類別和類別的各種資產的投資組合，這是管理風險的最簡單、最有效的方法。如果一項資產的表現不符合預期，它不會拖累整個投資組合，因為其餘資產將確保其彈性和連續性。

This is a strategy that includes all financial markets and seems perfectly reasonable and clever. Unfortunately, most investors only apply diversification across different asset categories like bonds, stocks, commodities, and crypto to reduce the likelihood of being impacted by sector-specific risks and maintain profitability in the long run. But they fail to diversify within the same asset class – and crypto investments provide the most relevant example in this respect.

這是一個涵蓋所有金融市場的策略，看起來完全合理且聰明。不幸的是，大多數投資者僅在債券、股票、大宗商品和加密貨幣等不同資產類別中進行多元化投資，以減少受特定行業風險影響的可能性並保持長期盈利能力。但它們未能在同一資產類別內實現多元化——加密貨幣投資提供了這方面最相關的例子。

As the first crypto to hit the market and the top coin in terms of value and market capitalization, Bitcoin is the preferred digital asset for numerous investors. You can buy Bitcoin p2p or through whatever channel you prefer and build your crypto holdings with ease. There's nothing inherently wrong with including BTC in an investment portfolio. On the contrary, Bitcoin can serve as a great diversification tool, considering its high return potential and innovative nature. The problem is that most people don’t look beyond Bitcoin when considering crypto investments, completely ignoring the fact that there are over 9,000 digital currencies from which one can choose.

比特幣作為第一個上市的加密貨幣，也是價值和市值最高的幣種，是許多投資者的首選數位資產。您可以透過點對點或任何您喜歡的管道購買比特幣，並輕鬆建立您的加密資產。將比特幣納入投資組合本身並沒有什麼問題。相反，考慮到比特幣的高回報潛力和創新性質，它可以作為一種很好的多元化工具。問題在於，大多數人在考慮加密貨幣投資時並沒有將目光投向比特幣以外的領域，完全忽略了有超過 9,000 種數位貨幣可供選擇的事實。

An unfortunate Bitcoin-centric approach

不幸的以比特幣為中心的方法

The disproportionate media coverage that Bitcoin has received over the years has made it seem like none of the other altcoins matter. Many still think that Bitcoin and crypto are one and the same thing. Others still harbor the belief that the original coin is the only one worthy of their attention, as it represents the best product that this industry has to offer.

多年來，媒體對比特幣的報導不成比例，這使得其他山寨幣看起來都不那麼重要了。許多人仍然認為比特幣和加密貨幣是一回事。其他人仍然相信原始硬幣是唯一值得他們關注的硬幣，因為它代表了該行業提供的最佳產品。

Ethereum is the only altcoin that manages to find its way into investors’ portfolios, most likely because the blockchain boasts unique features that have enabled a multitude of use cases across a range of different industries. However, not even the altcoin leader can come close to Bitcoin or make traders and investors acknowledge the need to distribute funds to more than just one crypto.

以太坊是唯一能夠進入投資者投資組合的山寨幣，很可能是因為區塊鏈擁有獨特的功能，可以在一系列不同行業中實現多種用例。然而，即使是山寨幣領導者也無法接近比特幣，也無法讓交易者和投資者承認需要將資金分配到不只一種加密貨幣。

As a result, people continue to create crypto holdings where Bitcoin is exclusive. And while no one can deny that Bitcoin is indeed a strong asset to invest in given its proven track record in the industry, creating a balanced portfolio by allocating funds to an assortment of digital assets remains the best way to go about crypto investing. So let's see why one shouldn’t tie all their hopes to Bitcoin.

結果，人們繼續創造比特幣獨有的加密資產。儘管沒有人可以否認比特幣確實是一種強大的投資資產，但鑑於其在行業中的良好記錄，透過將資金分配到各種數位資產來創建平衡的投資組合仍然是加密貨幣投資的最佳方式。那麼讓我們看看為什麼人們不應該把所有的希望都寄託在比特幣上。

The importance of having a diverse crypto portfolio

擁有多樣化的加密貨幣投資組合的重要性

Diversifying within the same asset class is something that is relevant to all types of financial instruments, but it's even more important in crypto’s case because the market has certain particularities that one should take into account.

同一資產類別內的多元化與所有類型的金融工具都相關，但在加密貨幣的情況下更為重要，因為市場具有某些需要考慮的特殊性。

Although all markets present some degree of volatility, crypto’s unpredictability and constant price fluctuations far exceed that of traditional assets like cash, bonds, real estate, or precious metals. Despite the industry having matured in recent years, heightened volatility is still a constant in the crypto space. The price of a crypto coin can shift drastically in a matter of days or even hours, and there’s no way to predict these movements and trends.

儘管所有市場都存在一定程度的波動性，但加密貨幣的不可預測性和持續的價格波動遠遠超過現金、債券、房地產或貴金屬等傳統資產。儘管該行業近年來已經成熟，但加密貨幣領域的波動性仍然很高。加密貨幣的價格可能會在幾天甚至幾小時內發生巨大變化，並且無法預測這些變動和趨勢。

This means that investors have the possibility to increase their earnings, but they are also exposed to a greater risk of experiencing considerable losses if they’re not prepared to navigate this unpredictable terrain. So, if you have all your crypto funds tied up in Bitcoin and the coin drops in value as it has numerous times in the past, your portfolio can take a heavy hit.

這意味著投資者有可能增加收益，但如果他們不準備好應對這種不可預測的情況，他們也會面臨遭受巨額損失的更大風險。因此，如果你將所有加密貨幣基金都投資於比特幣，而比特幣的價值就像過去多次下跌一樣，那麼你的投資組合可能會受到沉重打擊。

The most effective way to keep these risks in check and reduce the likelihood of major losses is in case Bitcoin takes a plunge. It is to make room in your portfolio for other digital currencies as well, and limit Bitcoin’s dominance and influence. Let’s imagine you distributed your crypto investments across Bitcoin, Ethereum, and several other altcoins, and none of these assets occupy a disproportionate share of your crypto holdings. If Bitcoin slumps by 50%, it’s highly unlikely Ethereum and the other digital currencies you hold will drop by 50%. They’ll probably perform differently and experience a slower decline or none at all, so they’ll be able to balance out the loss, and therefore, Bitcoin’s crash won’t have such a devastating effect on your portfolio.

控制這些風險並減少重大損失可能性的最有效方法是防止比特幣暴跌。這是為了在您的投資組合中為其他數位貨幣騰出空間，並限制比特幣的主導地位和影響力。假設您將加密貨幣投資分佈在比特幣、以太坊和其他幾種山寨幣上，而這些資產都沒有在您持有的加密貨幣中佔據不成比例的份額。如果比特幣下跌 50%，以太幣和您持有的其他數位貨幣也不太可能下跌 50%。他們的表現可能會有所不同，並經歷較慢的下跌或根本沒有下跌，因此他們將能夠平衡損失，因此，比特幣的崩潰不會對您的投資組合產生如此毀滅性的影響。

Diversification strategies for crypto investments

加密貨幣投資的多元化策略

There are different ways to go about diversifying your crypto investments, but the rule of thumb is to avoid holding too many assets that tend to move in the same direction. When searching for assets that don’t correlate to each other in terms of price movements, you can focus on the following aspects:

實現加密貨幣投資多元化的方法有多種，但經驗法則是避免持有太多傾向於同一個方向移動的資產。在尋找價格走勢不相關的資產時，可以重點放在以下幾個方面：