For clarification: I bought some $1000s worth of LTC when it was under $100 shortly after the Futures news hit. It was pure gamble on my part and I could have easily lost instead of the other way around.
I also bought a few ETH coins when it was around $400 but haven't cashed those out yet. I'm predicting my LTC gains will be wiped by ETH losses.
But I only made about 2.5x my wager, which wasn't much (less than $10000, more than $1000).
Also, as noted, much of a LTC gains could easily be eaten up by ETH losses. BTC is too expensive for my gambling taste.
Complaints of "only" making a 2.5x return.
Or proposed strategies elsewhere in this thread of buying a coin, selling half "when" it doubles, not "if".
But I agree it does highlight how insane the crypto craze is.
* Neophytes buying whatever they can put their hands on, because... mania
I doubt people really understand what they are buying whether it's bitcoin or litecoin. If you think you do, well, then most people do. Don't look at "crytocurrency" as the future "payment method", invest it like an asset. Go in low, come out high.
I invested in litecoin because I believe the market is undervalued. It's like a blue chip but will continue to rise for a while. If litecoin is to continue to rise, my bet is stopping at 600 then stabilized until bitcoin pops again. Litecoin in my view will never pass Bitcoin, but it's nonetheless a fun investment to play with.