Thank you very much for the advice all. When for example I look at litecoin I see that around this time last year it was roughly $5 and now its at $50, for me that's really exciting but at the same time I ask is there room for another x10 growth in a year from now? Wouldn't a less expensive and newer coin (with potential) be a better bet for higher growth in a year. Or what I guess what I'm trying to say is $50 too much for litecoin?
10x for Litecoin would put it at roughly 25B market cap. That's certainly not impossible, and you'll find some people on this forum that believe it is actually likely in 2-3 years - as you will also see people on this forum say it will probably drop back down to $5 in 2-3 years. I personally wouldn't make that bet for several reasons. But it's not an outlandish bet.
The best choice you can make is do research on the coin. Reading charts by itself doesn't do it here in crypto land. Because charts largely are a byproduct of pure speculation. What you need to do is read charts in connection with your research in the coin. The million dollar question on any coin is whether the charts shows pure hype, or is there some potential with the product? I guess what I'm trying to say is that some people would make the bet on Litecoin while others won't. The difference between the two groups is their research and opinion based on that research (or lack thereof).