Hi guys. I'm looking to invest a couple of thousand dollars in cryptocurrency. I'm not a trader and would like to invest in currently undervalued alcoins with the best potential for the long term growth. Have been reading up extensively and following the markets but still not sure if now is the best time to enter.
if you are not a trader i suggest staying away from altcoins. just invest in bitcoin. you can even wait for after August 1 to do it if you are afraid of the future or you can buy in case you saw another dip (unlikely).
if you want to buy altcoins you need to be a trader. and in my experience they are not good for long term. it is best if you just trade them and get the short term profit and put that in something that has a better long term future. bitcoin, gold, ... come to mind.
Thus requesting an insight from you: invest now or wait and see what the August brings? And what are the possible scenarios for altcoins it can bring?
as it was also recently proven, when bitcoin goes down altcoins go down with it.
this means that if you think August first can have a negative effect on bitcoin price then you should not invest in altcoins either.
of course there are always small unknown altcoins that are getting pumped and dumped irregardless of what is going on in the world. and for that (as i said above) you need to be a trader. you need a lot of experience to be able to pull it off successfully and not invest in the bubble and get dumped on.