Legendary Bitcoin Trader John Bollinger Shares Crucial Portfolio Tip

John Bollinger, the famous trader and creator of the Bollinger Bands indicator, has provided important investing and portfolio management advice on his social media. Thus, addressing his audience, the trader emphasized the importance of not including “cruft” assets in portfolios, arguing that this approach would ensure effective management of the remaining investments.

This piece of advice is consistent with Walter Diemer's strategy, which focuses on identifying what to give up rather than what to gain.

Related

Wed, 07/10/2024 - 06:09

Bitcoin Miners Are Capitulating, But There's Silver Lining

Alex Dovbnya

Bollinger's wisdom today is especially relevant in current market, which is saturated with a huge number of financial instruments. And especially in the cryptocurrency one, given its state. There are currently more than 2.4 million different crypto assets with a total market capitalization of $2.14 trillion. 

Given this, and the fact that the sheer number of assets can be overwhelming for investors, Bollinger's advice on optimizing portfolios can be very relevant.

Bollinger on Bitcoin

Bollinger also frequently shares his views on Bitcoin price movements, offering up-to-date analysis that is closely followed by many traders and investors.

In his latest analysis, the trader predicted further consolidation of the major cryptocurrency following the reversal of two candles on the lower Bollinger band. This prediction came true as Bitcoin initially turned around and rose 4.73%. 

However, shortly after this, there was a significant drop in the price of the main cryptocurrency, which fell by 16.21% from $64,000 to $53,500 per BTC.