I was just reading a report about BTC , A USA family sell all there assets and with that amount they invest in Bitcoin in 2019. as in 2021 BTC was on its peak ! So they get huge profit.
But as a dump then came in crypto market, for every investor it was really a great shock.
What you people say about this topic ?
Should we invest just like them or should start with a less amount ?
as Bitcoin came down in past months . it can be a great loss for those who invest madly !
Must drop your suggestion !
Lots of people tend to confuse the word investing and will apply it to many things that it is not. There is little hard evidence that Bitcoin will have a much brighter future and it is actually much tougher for the price to rise in future because such large sums of money is required to move the price. However if you were to invest in a company like Coca Cola for example and do a bit of research to discover it sells 100 million bottles a year, having increased that by 5% year after year for the last 10 years, then you have a pretty solid idea of where it is going in future. Except for anomalies like Covid, which can be both a positive and a negative, that history is giving you lots of useful information on why it is paying out higher profits each year. There is no such background on why crypto moves in the way it does.
So are you saying investing in BTC now is a wrong thing to do? Because a lot of us looked at BTC in this way 3 years back and failed to invest in it and watched the price increase drastically.