But the problem is, is now the right time to buy bitcoin? considering the price is very high and prone to correction. I can only advise him to buy with the DCA model or wait for the price to correct. When he asked, what is the right price to buy bitcoin? I can only shake my head and say "no one knows"
Do you have any good advice for my friend? Honestly, I was confused with my answer because Bitcoin was very expensive and I was afraid of giving him the wrong advice
I'm doing a job to a reputed organization as a PS of owner. Last December, I told my boss to invest the Bitcoin but he didn't agree. However, he has million dollar into the share market. I'm maintaining his all accounts, and try to convince him by showing the bitcoin graph..recently he has shown interest in buying Bitcoin but it's not yet legal in our country.
My boss already talk to his friend who staying in USA.. sometime he goes their. I hope he might be invest in Bitcoin within future.
I have the same question, will the price of BTC decrease?
Is there any possibility that the price of Bitcoin will decrease during the halving?
Yes. BTC prices can go in either direction, so it is good to have a 4-10 year timeline or longer for any investing into bitcoin that you do.
Many senior and respected Parsons given their valuable opinions, But I found a essence of everyone in one line of your opinions. Initially approved and I wait for final approval from my boss. I think Longtime Investments like 4-10 years is very profitable for every business and if is there is Bitcoin, others are useless. Large investors like my boss may not prefer DCA strategy for those "HOLD" can be the best.
Fair enough if he does not want to DCA, yet even starting out with a lump sum investment can be enhanced with either DCA and/or buying on dips, but yeah, whatever, your boss should be able to figure out how he wants to approach his investment and to consider whether he might start out with an initial allocation and then consider at various points down the line if he might want to add to his position. Again, any new allocation would trigger another 4-10 year or longer commitment to that additional portion of the investment, so keeping a long term time horizon is good for any additional capital added to a position, yet at the same time, all of us know that we can do whatever we want, including getting out of the investment if we change our mind down the road, but I personally believe that if anyone is taking less than a 4-10 year position, then they likely should take a smaller position if they are not willing to at least conceptually consider the investment into bitcoin in those kinds of terms.
You are right.. Although now BTC price nearby ATH. We should be more wait to buy.It could be much better that from now to start DCA, when the time of realization, we can taken from each Invoice 2% or 3% profit can keep separately for DCA. It can be also monthly basis. This strategy can reduced the pressure on the dollar and effectively for long.
Another thing is that if your boss is going to invest a decently large sum into bitcoin in a lump sum, then there has to be some learning involved, otherwise he is not taking personal responsibility if he is ONLY wanting to get price exposure by holding his coins through some exchange and/or third party. Yeah, sure he can end up buying through an exchange and even custodying through an exchange, but hardly any of us would consider that to be investing into bitcoin, but instead merely investing into BTC price exposure, which is a related animal but it is not exactly the same thing.. so there is some learning that is required in regards to self-custody, too... even if it might merely be considering the purchase of a Trezor hardware wallet.
Yes we are thinking so. Before the investment the security of wallet the best priority.More knowledge on this transection is essential. We must transact through trusted traders or exchange house.