Quote from: Fivestar4everMVP on Today at 03:42:29 AM

Quote from: komisariatku on Today at 03:30:34 AM

Quote from: Smartgoat on August 27, 2023, 05:45:53 AM

some months ago my mother called me that she now have interest on investing on Bitcoin with some amount of money, I ask her what happened! I thought she rejected the idea when I introduce it to her some years ago, and it have been long we talked about it. she said to me, I have make some research and ask questions about Bitcoin after all my mother invested huge amount of money $5k on Bitcoin which she's benefiting from it today.

When you persuaded your mother to invest in bitcoin, I don't know what the price of bitcoin was at that time. But maybe at that time the price of bitcoin was quite expensive, and now the price of bitcoin is quite cheap. So maybe you're lucky that you and your mom haven't bought bitcoins yet, and now that your mom has agreed to invest in bitcoins maybe this is the right time. Bitcoin has a low price and will soon be halved

Apart from the potential profits of investing in bitcoin, you also need to consider the possible lose. But from your story, your mother has been researching bitcoin until she finally agreed to invest 5k. For me that's a lot of money, I hope you get profit from the investment you make

$5k is not such a huge amount of money, but then, its still pretty sum of money I wont be happy to lose, not going to say that investing in bitcoin come with a guaranteed profit, but then, I have my personal believe that anyone investing in bitcoin will hardly lose their money, as long as they are investing for the long term, and also not trading with the bitcoin, that is selling at a bit higher price in order to buy more back at a cheaper price, doing this is risky most especially for newbies who are yet to really understand the in and out of trading, so yeah, as long as they don't engage in this activity, chances of losing in bitcoin investment is very rare, as long as the investor invested for the long term.

I would classify $5k as a huge amount of money as I am already in a poor country, but no matter what you are right, as long as you go for long-term holding, there is a higher percentage that you'll be earning profit only if you are patient enough to hold it for a few years because, checking the historical data, you've seen that year by year, the price of Bitcoin goes up, so just imagine it will still continue the trend and the cycle, so it is a sure-win situation.