But now I'm seeing the value is going up even faster than bitcoin so I decided to buy it at 210$ because I think that since bitcoin is getting alot more exposure, the coin people will fall on if they don't want to buy 0.00X amount of btc, they will go for his little brother Litecoin. Did I buy too high? I sold XMR for Litecoin.. Is that a good decision? I heard alot of great thing about XMR but Litecoin is on alot of top 5 alt list and is just going wild so didnt feel like missing out.
Thanks in advance for your inputs
Yes, honestly you buy your Litecoin too high. FYI it's the first time Litecoin has ever reach $200 range. Litecoin is rising too quickly lately, and it's usually come with a great correction too. If I were you I'd sold those Litecoin while I'm still in profit. Don't get me wrong, I'm a fan and supporter of Litecoin too. I also have stated numerous time that major altcoin with great development like ETH and LTC could takeover Bitcoin in terms of daily usage as Bitcoin fees getting higher every day. If Bitcoin never had that technology to accommodate several thousands tx per second, the "currency" market share of Bitcoin will fall to LTC and LTC and Bitcoin will be the "gold" of the future rather than "currency".
Even Charlie Lie, the creator of Litecoin, warned us against the potential volatility of LTC
Ok, sorry to spoil the party, but I need to reign in the excitement a bit...
Buying LTC is extremely risky. I expect us to have a multi-year bear market like the one we just had where LTC dropped 90% in value ($48 to $4). So if you can't handle LTC dropping to $20, don't buy
https://twitter.com/SatoshiLite/status/940353265585160192