I am debating whether I should put some money in Bitcoin or just continue to buy Litecoin.
I came late to the Cryptocurrency game (Even though it is still early ;D) so when Bitcoin was at $12,000-20,000 I thought it would be more wise for me to invest in a cheaper coin just in case the price started to come back down, so I went with Litecoin. At this time when I bought Litecoin it was around $110. The price of Litecoin went to around $370 shortly after, but I didn't want to be a selfish investor and cash out just a few weeks after putting money in, so I stayed, but now sadly, Litecoin is at $59 now (Nooooo). But like others I think this is a good thing for the market and I believe like many others that wealthy people were manipulating the market to make the prices skyrocket last winter.
Before Litecoin dropped to $59 there was a time in the market when it dropped to $110 (From $370) so I sold and got my money back. But then Litecoin went back to $210! I was thinking, wow, of course! Haha. I was patient and smart though so I waited to see what would happen to the price after rising again, it stayed pretty consistent for a few weeks so I bought back in at $210 thinking it was just a correction. But THEN it went back down, and down, and down. All the way to $59 now. Haha. Of course. I hope this is just market manipulation because I am not selling!
I honestly do see the true value of Cryptocurrency, the most valuable part of Cryptocurrency to me is that governement cannot track you and it sets you free from taxation which I do believe is theft. The more that people see this is the most valuable part of crypto the more people will buy in, I think. We will enter to a world of complete privacy and freedom if this happens. It is amazing how much currency controls the people.
So obviously Bitcoin is probably the coin to stay for the rest of eternity whether or not alt coins grow along with it. But my question is, after all that has happen to me with Litecoin, should I just put money into Bitcoin to be extra safe with my investment, or should I continue putting money in on Litecoin which is at $59 right now. I am not selling my Litecoin either way right now (It would not make any sense, I will just wait to see if it goes back up so I can get my money back at $210 per coin, or hopefully make money).