Although I have not yet owned Bitcoin, I understand that investing in Bitcoin is a great idea but as like others, it is not a 100% guarantee. And if owned should be stored in a non custodian wallet for safety, I would love to begin my Bitcoin journey and appreciate lots of ideas and advice from this family.
So what is your take about this, would you advise on owning Bitcoin in 2024 or do you see it as a total risk?
IMO, you should be starting to accumulate now while you still can. Some people always have the same concern about being late at investing in crypto and that they couldn't afford the risk of lossing as bitcoin may have already peaked and reached it's full potential. We have been hearing the same concern since bitcoin was still around when it's still in 3 digit mark. The only risk that I could see right now when you invest in bitcoin, is when you're a weak handed who would sold everything when bitcoin starts to decline.
Honestly, 2024 is a start for another bull run and a huge potential for another ATH.
I didn't even feel any risk at this current rate especially that bitcoin ETF has already been approved. Go look at the bitcoin historical data and see how it grows.
The risk of investing in bitcoin is not only in its price fluctuations. Investing in bitcoin also has potential risks such as security issues, its legality...although the ETF has been approved, many countries have not yet accepted it. In particular, security risk is an issue for which we will be solely responsible if we lack knowledge and lose our bitcoins. Therefore, those who have not invested in bitcoin can invest now so as not to miss the opportunity, but need to have basic knowledge about it to avoid unwanted problems.