(Disclaimer: I am NOT a financial genius, I am NOT a cryptocurrency expert and I am NOT responsible for any financial decisions made by you, dear reader, should you decide to invest in anything based on the comments you read here)
Answer to the above question: Sure! But, that is not even the issue you should be thinking at present. What you should probably be asking is "What is the amount I ought to be spending on purchasing Bitcoin (or other altcoins) given there are just 8 days left?" (today is July 23, 2017)
A lot of people have anticipated that Bitcoin will soar after August 1, 2017 and at the end of year, Bitcoin will be $8,000-$10,000. People who don't subscribe to this point of view forsee a Bitcoin plunge, and bitcoins you purchase before August 1st will succumb to that price decline. Both bears and bulls are looking into their proverbial crystal balls right now. So given the circumstance I think it is wise to spend around a small percentage of your proposed investment dollar to purchase not just Bitcoin, but a few altcoins as well.
Suppose I am planning to spend $2000 to purchase bitcoins and other alts. I would purchase Bitcoin, then Ethereum, Sia, Monero, Litecoin, Stratis, EOS and another 3 kinds of altcoins at about $200 each (approximately). This would limit my losses should any one or two of these decide to take a dive.
Regardless of the possibility of that Bitcoin/altcoin fall, I just spent a moderate amount on each. This is not a "secret" methid of cryptocurrency investing. Most of the YouTube crypto guys will tell you the same. After my own bouts with this market, I have come to realize that this is sound advice. With time, you can leartn the ropes and be an even better cryptocurrency investment specialist - if that's even a thing.
Another question in your mind may be, "How can I profit utilizing Bitcoin and other cryptocurrencies? Is August 1, 2017 the right time? How about what happens after?"
A lot of people have claimed to have created insane wealth for themselves in the last few years with crytpocurrency, but who knows if these people are saying this to reinforce their images in order to get more video views? Simply following a PLAN, you can have your own slice of the pie. Here is a simple 4 step plan that you can follow easily, and always remember that history regularly repeats itself with few changes:
Have patience: Let August 1st cruise on by. Simply contribute/spend as mentioned above.
Be diligent with your personal finances so you can have more to invest: Pay your bills, reduce your obligations to creditors. Spend the bare minimum on personal shopping and try your best to eliminate non-essentials (entertainment, restaurant dining, etc.)
Save: Put aside money consistently. Let your future cryptocurrency purchases be your motivation. I mean, it's made LOTS of other people rich!
Buy with confidence (and a little hope): The previous 3 steps will have conditioned you for purchasing wisely. Go out there and buy all you want, keeping in mind that you should spread the love among many cryptos to maximize profits. Personally, I have used these methods, and they work flawlessly.
We are just getting started with cryptos, folks. This is the time when EVERYONE will wish they would have put at least a few hundred bucks into investing in cryptos. If you are reading this, there's a great chance you are among the earliest adopters.
Have fun! Let's look back on this time with joy. Dreams are being made as we speak, so go make yours!
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