Sold all my shib for litecoin

[leonair]

Recently I bought around 1000 dollars of litecoin (I sold 1000 dollars of my bitcoin for it) and I've already made a 20% gain. I decided to buy more LTC by selling the 690 dollars of shib bringing the grand total of my litecoin to 2000 dollars USD. Is this bad or does LTC have a future? I've seen a lot about how LTC has a possible ETF in the far future. I am a long holder (5 years at least) btw.

Shib is a shit meme coin so there are no potential future here. LTC is backed by bitcoin fork and Litecoin is a very old coin and it has been in the market for many years with a good value. Although LTC is not seen to be pumped very fast, it also has no record of being dumped quickly.  LTC can be a very safe investment if you are thinking of investing here for the long term. Panic always hurts a trader a lot so don't be a panic holder.

[JoyMarsha]

Recently I bought around 1000 dollars of litecoin (I sold 1000 dollars of my bitcoin for it) and I've already made a 20% gain. I decided to buy more LTC by selling the 690 dollars of shib bringing the grand total of my litecoin to 2000 dollars USD. Is this bad or does LTC have a future? I've seen a lot about how LTC has a possible ETF in the far future. I am a long holder (5 years at least) btw.

Even though Litecoin has proven to increase in price in the future, that shouldn't be the reason for an investor to sell their Bitcoin for it, and focus only on it without having a diversified investment like some other potential altcoin.

As the crypto space is, no altcoin is to be trusted for future profits because they can someday disappoint or get the rug pulled by their owners. Investing in them for the long term should be done with intelligence, that is buy them at a low price and and sell them back at a high price. For instance, the ATH of Litecoin was $415 in 2021 but as for today's price of it, it is fluctuating around $97. An investor can buy at that price and sell when it gives another ATH in the bull run, which can be $600-$700

[doomloop]

You did great. Shib doesn't have a history and it doesn't deserve its current spot. It is likely premined and when the early guys decide to dump their coins on you, it will never recover again. Litecoin on the other hand has a very organic user base and the worst has already happened. Its founder dumped his coins on us long time ago so you don't have to fear it. Have you seen the bitpay stats? Litecoin has been dominating it for months now. People use litecoin more than any other alt. According to my calculations, a fair price for a ltc is no less than $500. Hodl and you'll be rewarded.

SHIB has a history because it is not a brand new crypto and then it is like DOGE who have been mentioned by popular names in the industry, resulting for it to shake the market.

Afterall, it was still a meme coin so what can we expect? But even a non-meme coin and a top coin like ETH is said also to be pre-mined. Despite of it, they are still there, doing a good job. Didn't knew that LTC had a greedy founder but in fairness, his coin is not bad. Maybe he still have a coin or he bought again. Others can do a similar act too but it's not a big deal since we know it can always recover. LTC is old, popular, cheap and fast, no wonder why many people use it more, than the others.

[Belarge]

Shib is a shit meme coin so there are no potential future here. LTC is backed by bitcoin fork and Litecoin is a very old coin and it has been in the market for many years with a good value. Although LTC is not seen to be pumped very fast, it also has no record of being dumped quickly.  LTC can be a very safe investment if you are thinking of investing here for the long term. Panic always hurts a trader a lot so don't be a panic holder.

We do whatever we think is right and doing our best to ensure we're grabbing significant profits in the market, I know it's not going to be easy grudge to hold but we should be having good pieces of the market when it pumps. OP did take a risky step to sell all his Shib for litecoin, atleast Shib is no longer active for the huge pump moves. Shiba Inu triggered huge pumps in the market and I've come to realized how the market pumps and dumps, the exact thing happen to these altcoins and memecoins.

[Hispo]

I used to have some Litecoin as part of my porfolio and I must say much of my experience was not as positive as I expected. In my eyes, part of my portfolio underperformed because of the inclusion of Litecoin in it.
I think we are going though times which people are more interested in smart contracts, memecoins and gambling utility coins than simple Proof of work coins likes Litecoin, Bitcoin Cash and Dash, in my opinion.
Even though many of those coins have much of a very standing track record and they have proven themselves not to be shady or scams, it seems people have moved onto other topics within the world of cryptocurrency.

[SeriouslyGiveaway]

Is this bad or does LTC have a future? I've seen a lot about how LTC has a possible ETF in the far future. I am a long holder (5 years at least) btw.

I think LTC is in the bottom price area, its growth is not really big, it is very suitable for you to buy at this time. Meanwhile, SHIB  grew a lot in recent times, so I think the strategy of selling down SHIB to buy your LTC is quite reasonable.

In addition, you can refer to the chart LTC/BTC and LTC/ETH, the price has been at the bottom for a long time, according to technical indicators, there may be strong price fluctuations for LTC on these two pairs. However, according to my observations, the price movement of LTC is quite slow, requiring a lot of patience if you want to hold it long-term.

[OrangeII]

I'm not a fan of Litecoin, but selling meme coin for LTC might still be better, especially if you're targeting a long-term investment. If you see that the future of LTC has great potential, that's not a problem, besides that LTC is still one of the popular coins which is still surviving.
However, I might be more inclined towards coins like Bitcoin, or EThereum, or BNB to invest in long term. I think ETH and BNB have better prospects in the long term than LTC. But, I think as long as it's a popular coin, and it's a decision you make after doing research, then maybe it could be a good thing in the future.

[tengui]

If for the long term I recommend BNB or ETH because the future of these two altcoins is clearly better than LTC. I mean this, for me LTC has a bright future because LTC is ranked 20th in CMC and part of the big altcoins. But even so, the future of BNB and ETH is much better because they are the most popular altcoins at the moment.

[peter0425]

LTC is a good coin, and selling SHIB for it seems like a good choice. I don't think that it has a too bright future, but there is a chance.

Well indeed that Litecoin is a good coin but it is depending in timing as Meme coin seems to be fast moving when there are a BS condition of market that favors meme coins , but litecoin on the other hand is slow moving currency and looking at its position now and from the movement what happened ? i believe that LTC needs long time before spending a good position in the market again because it has been in the 3rd rank in the past.

[Silberman]

I'm not a fan of Litecoin, but selling meme coin for LTC might still be better, especially if you're targeting a long-term investment. If you see that the future of LTC has great potential, that's not a problem, besides that LTC is still one of the popular coins which is still surviving.
However, I might be more inclined towards coins like Bitcoin, or EThereum, or BNB to invest in long term. I think ETH and BNB have better prospects in the long term than LTC. But, I think as long as it's a popular coin, and it's a decision you make after doing research, then maybe it could be a good thing in the future.

LTC is definitely better than all the shitcoins that are released these days, but at the same time just like you I think there are better options for those that are either looking for a superior short term or long tern performance, however if for some reason the OP believes they have a better chance to reach their goals by investing in LTC then that is something I can respect, even if I do not really understand how LTC could get a better performance during the upcoming bull run than ethereum.

[Vickysagar]

LTC is a good coin, and selling SHIB for it seems like a good choice. I don't think that it has a too bright future, but there is a chance.

Well indeed that Litecoin is a good coin but it is depending in timing as Meme coin seems to be fast moving when there are a BS condition of market that favors meme coins , but litecoin on the other hand is slow moving currency and looking at its position now and from the movement what happened ? i believe that LTC needs long time before spending a good position in the market again because it has been in the 3rd rank in the past.

It seems like the best days for LTC are gone. It's kinda sad, actually, it was one of the first coins I used and it still works great.

[tsaroz]

Recently I bought around 1000 dollars of litecoin (I sold 1000 dollars of my bitcoin for it) and I've already made a 20% gain. I decided to buy more LTC by selling the 690 dollars of shib bringing the grand total of my litecoin to 2000 dollars USD. Is this bad or does LTC have a future? I've seen a lot about how LTC has a possible ETF in the far future. I am a long holder (5 years at least) btw.

Litecoin surely is a good choice for long term. I too am accumulating Litecoin and doing some grid trading. Litecoin still hasn't climbed much on the recent bulls and there had been a lot of accumulation below $100 for this coin. Even at the moment they are below $100 which is a good price to bag some of it. When the bull arrives in Litecoin, it would easily make $200, that's a good x2 in a matter of couple of years at max. It also is one of the safest currency to invest as it doesn't have much problem and for a long time have resisted above $80.