Well I wouldn't buy now, chances are you're going to get better prices during the approach of Jan 31st.
I would invest the majority of your funds in bitcoin and maybe invest 20% over time in altcoins you believe in for the long term.
Just look for altcoins with a promising dev team and community.
I agree. It's not worth the risk right now for a new investor. However, with risk, comes the potential for greater rewards. If the market has already priced in China's constraints that are going into effect at the end of January, then come the end of the month the price could soar. That would be a reaction to it not dropping at the end of the month.
Remember, speculators, by definition, price in future events before they happen.
But for new investors, I would wait this out. It might buy you more coins if the market falls. If it does not fall, I bet it will rise over the long-term either way...so you won't miss out.