Legendary Bitcoin Trader John Bollinger Reveals Essential Portfolio Tip

John Bollinger, the renowned trader and creator of the Bollinger Bands indicator, has shared valuable insights on investing and portfolio management via his social media channels. He highlighted the importance of avoiding “cruft” assets in one’s portfolio, asserting that this strategy leads to better management of the remaining investments.

This advice aligns with Walter Diemer’s strategy, which emphasizes recognizing what to relinquish rather than focusing solely on what to acquire.

Bollinger’s guidance is particularly pertinent in today’s market, which is flooded with a vast array of financial instruments, especially in the cryptocurrency sector. Currently, there are over 2.4 million different crypto assets, with a total market capitalization of $2.14 trillion.

Given the overwhelming number of assets available, Bollinger’s recommendations for optimizing portfolios are particularly valuable.

Additionally, Bollinger often shares his insights on Bitcoin price movements, providing timely analyses that many traders and investors closely monitor. Recently, he predicted further consolidation of Bitcoin after observing the reversal of two candles on the lower Bollinger band. His prediction manifested as Bitcoin experienced an initial rise of 4.73%.

However, shortly thereafter, the price of the leading cryptocurrency saw a notable decline, dropping by 16.21% from $64,000 to $53,500 per Bitcoin.