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Another thing I hope or I advise you to provide a detailed explanation or understanding to you about what investment really is, for the problem of goals yes we all as investors have the same goal at the end of the engagement which is to achieve or get a profit, but I hope you also explain to him in terms of risk, don't let your friend tend to always think about profit because the worry is that he could be too worried when bitcoin experiences a significant bearish or correction phase which in turn could make your friend act instantly to thwart or stop his bitcoin accumulation plan that he has been maintaining, because I see events like this are not uncommon when someone is too focused on his expectations.
I know that some folks might be worried about the extent to which their BTC holdings are in profits, and I frequently say that the first BTC I bought was not in profits for over 3 1/4 years from November 2013 until March 2017; however, my overall average cost per BTC had various periods of being in profits, and maybe some ambiguity in regards to the level of profits depending on how well it was calculated during close to 3 years before the average costs per BTC had clearly gone into profits.
So there can be long term periods in which an investment like bitcoin might not be in profits, yet we can still figure out position size and investing techniques that involve ongoing buying and hopes to have more options in the future, including hoping to be profitable in the future.. while realizing that profits are not guaranteed, even in an investment as great as bitcoin... but we are likely going to have better chances of being in profits in the longer term if we continue to exercise prudent, persistent, reasonable and ongoing BTC accumulation practices.
In other words the main way to prepare for the BTC price to go up is by continuing to buy BTC, even if some of those purchases might raise the cost of your BTC and also even if sometimes the BTC price moves against you after you made purchases that ended up being at higher prices than the current prices... just keep buying with reasonable persistence.. and perhaps study bitcoin to attempt to get more conviction in the strength of bitcoin's long term investment thesis.
I know I've not been that long in bitcoin but at least if this bull run is over I would count that as one cycle cause I started accumulating during the bear market and one thign I noticed is how much it is hard to hold in such market conditions and how it can affect the best of us especially those that have a major portion of their asset or Value stored in bitcoin, although I was so early I've had thoughts of how the old folks manages go persiver through all those hard times and one thign that came to my mind is how they all had a personal conviction about their investment In bitcoin and how they all consistently continued in their buying of bitcoin in all market conditions.
IMO in anything one wants to achieve great result in life persistence is one attribute that we must have even when thigns are quite against us, and I think one way to actually reduce the impact of those hard times is to have a long term plan for your investment, cause if its a short term or the time duration is too short like a year or two its so possible that your investment can still be mutually experiencing one side of the trend like the bear or maybe you bought at very high prices, you would most likely have feelings of failure in your investment but if you had a longer term plan its easier to have patience cause your approach to bitcoin won't be to solve a short term problem but for a longer term plan, like maybe reaching a fuck you status or retirement.
From my little experience I know that it has been way easier for me to have patience and be consistent cause I know that my plan is for a much further future so I just tend to keep my eyes of profit and loss and focus more on accumulating bitcoin.