Topic: Buy now or wait ? $41,000 to invest in bitcoins and litecoins - page 7. (Read 10319 times)

I love it. I share this enthusiasm for the great opportunity we have before us.

OP you will have to decide for yourself.

Depends on your comfort level.

Diversifying gets you 70k upside, or 20k if everything tanks, a nice little hedge for the long term investor that likes to not look at his computer at midnight.
 
letting it ride gets you 400k upside or 0 if your choice tanks, the choice of someone that may be tired of the long march towards his age 65, 1.2 million savings target.

I have some existing traditional investments that have got me exactly what you would expect over the last ten years. Average returns and an average progress towards retirement.

But in the past six months I am all in with new investment dollars into crypto. I am not going to stand by like I did with Apple, Netflix, Google and other great investments, and watch them all do great in my 2% of ownership diversified holding.

I am riding Bitcoin or other Cryptos (DOGE until tehy go to the moon or until the go to zero, one or the other. In two years, I will either be in the same place I am now, which is 20 years from retirement, or my life will be totally different. I do not see another opportunity like Bitcoin, and haven't as long as I can remember.

Diversification is for those that are planning to retire when they are 65, I have never met a single average guy that paid for their house in a year with a diversification strategy. Whether it was a business they built, or an investment strategy they chased, they were all in. Just saying.

you should definitely keep some in liquid cash that you can access right away...you don't want to tie up all your money in crypto.  Yes, I know you can cash out pretty quickly if need be, but it is not yet the same as having cash on hand or in a checking account.   Diversification is key...

40% BTC, 20% LTC, 25% DOGE, 15% ZET

Mining for bitcoin.
Good luck to the  moon ... !

1-31

Put it all on Dogecoin!

Of 100% into crypto I doubt putting more than 10% into any single alt is smart. All alts are highly speculative. We may never use Litecoin. However, if we do, there is also more room for profit. So highly risky highly profitably -> put a small fraction into each.

Dollar Cost Averaging. I like it, but some on this forum have Poo-Pooed it. The OP must make his own decision - It's his money.

I never seem to remember what this is called, but what you do is;

You buy in at fixed dates with fixed amounts over a period of time. For example you can buy in at the 1st and 15th of every month, 500$ each time. 1000$ a week for ten weeks. The important thing is that you stick to the plan buy in every time, no matter what the price is. The average price per BTC is usually lower than if you go all in. And you don't run the risk of "losing" 4000$ in one night.

I wish I remembered the name of the strategy so I could link it here, it is a good read.

Buy half now and buy another half if the panic sell happen on that day. Otherwise use the other half to buy stock instead

You have to ask yourself why you are investing in bitcoin. I say bitcoin isn't an investment but is a lifestyle choice and movement. You're not buying a commodity, you are buying an ideal which is a future that moves from fiat currency to crypto currencies with all its great qualities by design.

I am working my way OUT of fiat and into Crypto currencies which means that I'm looking to move as much as I can from Fiat. So my advise would be to start living in Crypto. You need to put your money to work by investing in producing services/businesses. Keep a good portion of your working capital in Bitcoin and use that to buy as much services and supplies as possible as this encourages growth in Bitcoin.

By being part of the sea change by encouraging merchants to accept your bitcoins for payment you will help increase its value. When you get paid in fiat, move some into bitcoin for spending, keep some in fiat to pay your utilities and Government commitments (They'll be last to move to Bitcoin) and put the rest in true investments like a business that makes money or a Bitcoin Business that offers a service.

Like I said, buying and holding bitcoin to get rich helps nobody. The more people holding bitcoin, the less liquidity there is, the less value it has, the less the price relative to fiat currencies will increase.

Moving your money into bitcoin is a great way to pay for services and goods. The less fiat you hold the better as it's devaluing at about 8% per annum and banks can take it if they feel like it. It's going to be useless paper good for burning which could happen quickly.

Anyone who thinks it's going to zero is an idiot. Even if every government tried to black list it, people would still be using it to buy goods and services. The main reason is because they can trust in crypto.

Buy and Sell goods and services in Bitcoin. Don't Buy and Hold to get rich.

I don't understand why you are continually making new posts about this. Lots of people have already given you their advice and opinions.  There is a wise expression I think is apt here:

'PISS OR GET OFF THE POT'.

+1

go

$10K LTC
$20K BTC
$11K DOGE

IMO

Smart money is in Doge too.

Not too many people on this forum are going to give you advice without putting their own priorities first.  What I mean by this, is that this forum is full of parasitic scumbags, many of whom would love to encourage you to make the wrong decision for their own benefit.  In fact, you've probably already received PMs from plenty of them offering to scam you in one way or another.  Asking for any kind of financial advice here is asking for trouble.

Judging by the precise number of $41k, I'm guessing you're probably stretching to be able to free up that amount to "invest".  If that's the case, don't invest that much.

Yes, this. Also use this time to get to learn how the exchanges work. Try the different wallet softwares available, maybe do some minor transactions but keep most in cold storage.


Yes, this. You want bitcoin to possibly improve your quality of life. Don't let it ruin it.

When you are talking about large sums of money you are better making your own decision - don't be swayed by what people are advising on a forum 

Nobody here is going to give you any peace of mind. Nobody has a crystal ball and everybody here is either extremely bearish or extremely bullish. I'm bullish because I see the long term potential and have little interest in day trading.

Look at Bitcoin for what it is, what it does, and why it's made it to where it is today. Then consider the financial world around it... Bitcoin is so promising in what it hopes to deliver and it's a contender in such a huge league with unfathomable resources to drive an innovation like Bitcoin as time goes on...

There's no Senate hearing on Jan 28... It's a public discussion hosted by the New York State Department of Financial Services. If you aren't sure about investing you can always invest over time and watch the news...

Bitcoin is a safer bet than Litecoin, Litecoin has more of an upside if it's continually accepted. Time will tell...

What exactly are you waiting for?   Is the 41k that you have completely separate from your savings, or is that all the money you have to your name?   If it is all of your savings, i wouldn't suggest investing that big of a portion of it.

If I were you I would invest maybe about 10-15k right now, and hold the rest, and see how things develop throughout the remainder of the month.   The market has held pretty flat over the past week or so (which isn't too long in real time, but in bitcoin time, it seems like an eternity).  

I would spread maybe 65% BTC and 35% LTC, or maybe 70/30 if you are more comfortable with that.   I wouldn't put all of it into one or the other.  Another thing you have to take into account is how long you are going to plan on holding the coins.  If you are just looking to flip them for a quick profit, then the price right now may be kind of expensive (therefore) you may want to wait to see what happens with the senate meeting.   If you are holding long term and believe in the true growth and potential of bitcoin, then the price right now is cheap and you should get as much invested as possible.

Regardless of the outcome of the senate meeting, we may see some short term dips or panic sells if it is bad news, and then it will rebound back over time.   If it is all good news, then the price will spike (but will probably correct itself back down slightly thereafter).  

Ultimately, don't invest an amount that is going to negatively affect the way you live your life, or make you have sleepless nights over the value of BTC or LTC.