a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?
No, Bitcoin is not meant for short-term speculation.
With a high degree of probability, your friend will not be able to buy a cryptocurrency cheaper, but sell it more expensive.
Currently, we are seeing a bearish trend in the price movement of Bitcoin and other cryptocurrencies. In this situation, any purchases can bring a loss (instead of a profit).
Another thing is if your friend is ready for long-term investments.....
Then the present time is a very good moment to buy the first cryptocurrency.
Day trading is also considered a short-term investment but unfortunately his friends and he are all newbies. They have no knowledge of day trading so they cannot make profits in the short term and day trading is also very risky and not everyone can make a profit from it.
Whether you invest for short term or long term, cryptocurrency investment should not be considered as the main source of daily income for your family as there is no guarantee that you will always be profitable on your investment. Only invest when you have a stable job with enough income for your family and only invest with idle money. Remember that investing is just a side business to earn extra income or save for the future.