It would appear that cryptocurrencies are highly correlated in terms of price. The benchmark price is that of bitcoin (BTCUSD). When bitcoin gets a cold, shitcoins get the flu. So buying a diversified portfolio of cryptos actually concentrates risk rather than diversify it.
Apparently the strategy of buying the 4 or 5 largest coins by market capitalisation and selling the same dollar amount of all the other cryptos is a way to reduce risk and see a positive return. More on https://cryptonewstrends.com
I suggest you sell your crypto portfolio. As the US Fed raise interest rates, many assets have started to drop in prices. If a full blown crisis develop, there will be deflation which will likely bring up real interest rates. Cryptos don’t do well when real interest rates are positive. Currently real interest rates are close to zero or negative in different countries.
Good luck.
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