Sold all my shib for litecoin

[Ben Barubal]

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.

     I won't say that what you did was wrong if you knew that you made a profit from it. Only you can say whether what you did was right or wrong. As long as you can only say that it is right when you have profit obtained and wrong if you have not obtained profit.

     Even if others say that you shouldn't have sold some of your bitcoin, they don't care because it's yours anyway and it's your choice. So do what you think is right.
Besides at the end of the one who will benefit of your decision is none other than but you or yourself.

[Essential10]

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.

Since you sold your bitcoins and with that money you invested in an altcoin I would not make such a decision if I were you. Because you will hold the investment for a longer period of five years, it is better to hold on to Bitcoin than Litecoin. But you decided to sell $690 shib and invest in more LTC is a good decision because I think investing in lite coin is less risky than meme coin. Currently bitcoin has a lot of appreciation and hope to reach another high in the future, in that case I would put all my money in bitcoin. Since five years is a long time surely from here on Bitcoin will get good results in the future. But yes litecoin is one of the top altcoin it may increase in price in future.

[PIMPdev]

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.

[irhact]

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 is a good altcoin but not an altcoin that can give you many profits as Shiba Inu would had. Shiba is risky than Litecoin and it is due to that high risk that the reward is also high. Litecoin can get an ETF in the future but that won't make the price to give you Shiba Inu kind of return due to the popularity that Shiba Inu has. Shiba Inu is a meme coin and they can pump for no reason and also pump as other memecoins are pumping. I won't had sold my Shiba for Litecoin but hold it.

You made the first mistake by selling your Bitcoin for an Altcoin, you made 20% gain but holding Bitcoin would had made you same or more gain. Bitcoin will rise very well as we are having Bitcoin halving soon therefore it wasn't a wise decision to sell you Bitcoin. Litecoin is an old cryptocurrency and most time old cryptocurrency don't get alot of hype in the bull market as new cryptocurrency takes all the hype.

[strunberg]

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 is a good coin, but SHIBA is a meme coin and meme coins do not have good fundamentals. Your choice is correct by moving your assets to Litecoin. But if you say you are a long term holder even up to 5 years I think Bitcoin is the best choice for you. Many people believe Bitcoin will hit $200,000 or even $500,000 in the next 5 years.

[Dailyscript]

I just feel like you are holding the wrong coins. However for the short term you have made quite a handsome profit. Have you eber thought on the long run holding your Shiba what it would profit you? Bitcoin has a food potential especially for the long run. Since we are expecting a bull run soon after the halving i believe the meme coin will do so well in that period. If we are looking based on past event we noticed that during the last bull run after halving all the investors who held their meme coin were fucking profitable. The hike was so much that most person became millionaires. This is exactly what I expect to happen during the end of the year.

[Tmoonz]

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.

Selling your Bitcoin for other coins can be a very wrong approach because above all Bitcoin has proven to be the best however, it's always advisable to limit your other coins involvement to 10 % size of your Bitcoin invest let alone not selling your Bitcoin for other coins, well it is your choice but I just hope you  dont regret you  action .let us not be completely carried away by any  form of  influencer and make dràsic decision .

[wheelz1200]

Diversifying into one of the longest running coin protocols is never a bad thing.  I don't think in the long run holding memecoins is something anyone should do, so dumping shib is definitely not a bad move.  In the short term you might have some opportunity loss but knowing you are holding for 5 years or more I like it.  Only better move is to get all of that back into bitcoin and ride that train.

[AnonBitCoiner]

I don't think that it is a better decision to sell your bitcoin to buy another coin because every coin possess a potential risk but risk in bitcoin is not as higher as that of the altcoins. You should grab bitcoin until the halving as you buy bitcoin but you didn't take benefit from it as other holders are taking.

You are still going to buy more lite litecoin so if you did not sell bitcoin for it then you will have bitcoin and some litecoin as well in your investment and you will be profitable in the upward movement originated by halving. Litecoin is also good investment but now you have to keep it longer while you can take benefit from bitcoin easily during halving.

[Oneandpure]

Selling all your Bitcoin to purchased altcoin is not a good ideal OP, because I know that if you hold your Bitcoin for five years you hold your LTC before you can sell,  I think the income you made from your LTC assume it is Bitcoin would have be more higher than that amount of income because many potential investors know what Bitcoin can bring in five years time. LTC is a good altcoin that has potential teams that is working every night and day to ensure they continue to increase the numbers of their investors by making them to always embrace favour from their investment. If you can continue with your long holding in your altcoins, I think it will help you to increase your income in another five years to come.

Its not bad ideas I think, selling $1000 of bitcoin with opportunity up few percent just staking small profit than Litecoin has opportunity in daily day earn more than 10%. If OP invested in Litecoin when price dropping under $90 last several days and without few days price increasing up to $112 I think much profitable earn than hold bitcoin price stuck right now and small fund investing. Bitcoin is worth as long term investment assets but need large capital, investing $1000 in bitcoin just taking profit few percent and more potential profitable earn when investing in Litecoin exactly price dropping under $100.
During Litecoin price still drop is good ideas from OP want to sell his bitcoin and purchase for litecoin, just waiting with Litecoin hit to ATH price again and more profitable earn than holding bitcoin.

[Sophokles]

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.

Why LTC? If you are investing in an altcoin then there are plenty of other projects where money is flowing. What LTC can give, you can expect a similar return from bitcoin as well. So it is better to hold btc than ltc in my opinion. If you want to be exposed to the altcoin market then it will be better to invest in new altcoin project because most retail investors want to invest in new project for short term profit. All the new altcoin are not risky to invest if you know how to manage your risk.

[LogitechMouse]

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.

TBH, Litecoin has been one of the coins that remained on the top for a very long time, but it's very silent, and not being talked online.
Unlike many meme coins out there, no one is talking about Litecoin and to be honest, I've been thinking of holding some Litecoin for long-term, but I completely forgot it already, and I invested into other altcoins.

Well, Litecoin like other altcoins out there will pump on it's price during the bull run, but with how unpopular it is, I don't think that it will surpass it's past ATH of ~$400. I don't know if there's some development or some added features to that coin anymore, but if you're looking for a coin that's considered "established", Litecoin can be that coin. I mean it has been at the top for a very long time already. The only problem is because of it's unpopularity (IMO), it's place at the top in terms of market might slowly go down like what happened with other coins such as EOS, IOTA, and others.

Does Litecoin have a future? I don't know because I didn't heard any upgrades on the project, or I might be wrong and they're working in silence to the point that nobody is talking about them anymore. I guess if you want for a short to mid term profit for the upcoming bull run, Litecoin isn't a good choice, but if you're in for long-term, Litecoin is a good coin to hold, but there are other projects that I find better to hold in the long run like Ethereum.

[bluebit25]

While LTC can be considered a way to diversify, it is not a coin that can be relied on for long-term investments. It cannot be denied that LTC has not yet reached its full potential and the emergence of other altcoins has reduced its importance. Even though you have profited from LTC, I absolutely have to tell you that Bitcoin is a much more worthy bet than LTC for long-term investment.

I have seen a lot of people quickly become overwhelmed by their appreciation of altcoin value and their desire to mine it the best way they can. Unfortunately, they often ignore the risk of eventual loss, which leads to the loss of both the initial investment amount and profits. Although a growing number of people have a preference for altcoins as their primary investment choice, on balance, Bitcoin remains the safest option in the cryptocurrency market while still having the potential to generate large profits.

[evichi]

In my opinion, selling Bitcoin to buy altcoin (Litecoin) is not a good idea. Currently, we are anticipating bull run, which I think have started already, so holding Bitcoin should be a better option, more so with the upcoming Bitcoin halving. Though litecoin is a good altcoin but in terms of  growth, security and long term investment, Bitcoin is better. Please note that for all investments only invest what you can afford to loose. For long term investments, avoid keeping your coins/tokens in exchanges. 

[Ben Barubal]

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.

     I'm just curious, op, what is all this SHIB you exchanged for Litecoin? Because if yes, I hope you somehow left at least 1/4 of your SHIB so that you still have SHIB in your balance. This is just my suggestion, but if you've done it, that's your choice.

     I just hope you don't regret what you did in the end. You know, here in the crypto space, the coin we think is hopeless will suddenly surprise us one day, the price will suddenly rally, and then we will suddenly feel regret if we did what we thought was right. You know what that means?

[EarnOnVictor]

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.

Maybe you are new to the world of cryptocurrency, I do not know, but swapping your SHIB for LTC is not a smart idea in my opinion. At most, you should have just bought a small amount of LTC. I must say that I was so particular about the LTC years back but when I carefully studied it, I realised that it is good for sending and receiving money and not for investment. Not that the investment will not be yielding with it but it can't yield as some more volatile coins/tokens would. If you compare how SHIB and LTC behaved since mid-last year till now, you should be able to know enough about what is happening and what will happen in the future.

And during the altcoins season judging by the past, the coins and tokens like memes are powerfully moving up. This is what I believe should be your primary target, and not just for doubtful investment and ETF reasons. The ETF we are even talking about can't be as impactful for any coins again as it did for Bitcoin last year. The reason why it behaved like that was that the ETF was introduced newly to the cryptocurrency world which makes it such impactful. But as it is, the ETF has not yielded any good results for Bitcoin ever since then in terms of the huge money brought in practically, only that the headlines, rumours and FOMO mainly caused the impact then.

[m2017]

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.

During the time of LTC owning, how much has the price of this increased in 5 years? I'll give you a little hint. How much has bitcoin grown over the same period? Just recently BTC updated its historical maximum, and what results can LTC boast of? LTC is a half-dead project (from the point of view of ROI). I say this not because I want to deprive you of hope (I myself am deprived of this, because I myself have several LTC that have been lying dead for many years and have brought practically no income) and faith in LTC, but because, looking back at past years, I see that LTC turned out to be a bad investment instrument. Shib is also a dubious coin, because it is a hype coin. Why don't you sell LTC and Shib and buy Bitcoin with all the money? In the future, this will be an incomparably better solution.

[tygeade]

Litecoin is a good altcoin but not an altcoin that can give you many profits as Shiba Inu would had. Shiba is risky than Litecoin and it is due to that high risk that the reward is also high. Litecoin can get an ETF in the future but that won't make the price to give you Shiba Inu kind of return due to the popularity that Shiba Inu has. Shiba Inu is a meme coin and they can pump for no reason and also pump as other memecoins are pumping. I won't had sold my Shiba for Litecoin but hold it.

You made the first mistake by selling your Bitcoin for an Altcoin, you made 20% gain but holding Bitcoin would had made you same or more gain. Bitcoin will rise very well as we are having Bitcoin halving soon therefore it wasn't a wise decision to sell you Bitcoin. Litecoin is an old cryptocurrency and most time old cryptocurrency don't get alot of hype in the bull market as new cryptocurrency takes all the hype.

This is why I believe that it would make sense if we could just let it be, there isn't really any reason for it to grow any differently. Litecoin should consider what we have as normal and not really make anything that grows any differently, we need to just make it work that way.

Litecoin is good and should not be something that could risk anyone. Shiba on the other hand is something that is quite risky, and that is why I do not think that anyone should hold something like that, it doesn't make sense to buy something and keep it for a year, or even more. If you ever end up buying shiba, you buy it for a very short period, maximum of a month, usually quicker, and I will go even further and say that you shouldn't even buy shiba ever.

[Bushdark]

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.

I don't really know what you mean by their is no bright future for Shiba Inu holders. The crypto market is just like gambling so we should be ready to take the risk for us to make make from holding good tokens that would beneficial to us. It would be wise to accumulate good tokens but sometimes they might not have the liquidity to set the price on a higher level so we just have to make quick decision that would be a sign of reward making profits as investors.

[albon]

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.

You are free in your investment decisions, and honestly, Bitcoin is one of the most important currencies that you should have kept in your wallet. However, it is good that you made a profit from LTC. As for me, I prefer Ethereum and Solana over LTC, as they have a higher potential for growth, but this does not mean that LTC is a bad currency.  It's also a good currency, and the market and supply and demand dynamics determine its future. Indeed, the fact that the total supply for LTC is 84 million tokens indicates that the currency can witness excellent prices in the future. Analysts are still enthusiastic about this currency.

Your decision to sell the Shiba Inu currency seems good, as the currency became more sluggish after competing meme coins appeared. Meme coins are risky, so I think you did the right thing.