Buy now or wait ? $41,000 to invest in bitcoins and litecoins

[portalufonet]

Guys, I don't know what to do, I have $ 41,000 dollars to invest in bitcoins and litecoins but I am in doubt. Many people saying to wait for the outcome of the meeting of the senate 28~29th january, others saying to wait until after the 31 January (not sure why).

I need more opinions, URGENT, please.

I trust bitcoin and I think that by 2020 every bitcoin will cost between $50,000 and $ 100,000, and I want run the risk!

To the moooonnnn, or I die! no problem!!!!!!!!!!

thank you



UPDATING 05/14/2015

Hi Guys, I'm here, more than 1 year ago I have posted this topic

Yes yes I have bought all my $41,000 in litecoins @ around 20$

Now my 41,000 are only around $3,000

Now what I can do is -> HOLD and wait the next bubble (if happens) to recover my losts and switch to BTC and hold any years

hahahaha yes yes I have fu**d myself

Now I have 2.700 litecoins, let's hold, hahahaha  

[1714173898]

1714173898

[1714173898]

1714173898

[LiteCoinGuy]

i would buy now but when you are tough, you could also wait for a pricedrop

50% BTC and 50 LTC

just buy and wait/hold.

but dont be stupid: it can go to zero too.


---------

31 January is because of some china news....

[keithers]

Guys, I don't know what to do, I have $ 41,000 dollars to invest in bitcoins and litecoins but I am in doubt. Many people saying to wait for the outcome of the meeting of the senate 28~29th january, others saying to wait until after the 31 January (not sure why).

I need more opinions, URGENT, please.

thank you

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.  

[pungopete468]

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...

[jonanon]

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 

[Crunchies]

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).

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.

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.  

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

[BBQminter]

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.

[adrian33]

Smart money is in Doge too.

[Liquid]

Smart money is in Doge too.

+1

go

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

IMO

[WompRat]

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'.

[topshot]

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.

[FlyForFun]

Guys, I don't know what to do, I have $ 41,000 dollars to invest in bitcoins and litecoins but I am in doubt. Many people saying to wait for the outcome of the meeting of the senate 28~29th january, others saying to wait until after the 31 January (not sure why).

I need more opinions, URGENT, please.

I trust bitcoin and I think that by 2020 every bitcoin will cost between $50,000 and $ 100,000, and I want run the risk!

To the moooonnnn, or I die! no problem!!!!!!!!!!

thank you

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

[sakkosekk]

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.

[flagel8]

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.

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.

[lnternet]

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.

[jwray]

Put it all on Dogecoin!

[bitpop]

1-31

[bitm3]

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

[ajax3592]

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

[keithers]

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...