Quote from: Su-asa on May 22, 2024, 12:24:30 PM

Quote from: Hatchy on April 05, 2024, 09:28:50 AM

Quote from: Outhue on April 05, 2024, 09:10:33 AM

Or am I wrong? I need to know if this advice is a good one or a bad one, I gave him this advice because we are very close and also because I will do the same thing if I am in his shoe, this is the best thing i can think of right now.

Though Bitcoin is a good investment plan right now, but you shouldn't make it look lik the only option out there .i don't think you should involve yourself in situations like this as it might not end up well. Even though Bitcoin is a good investment, some people who really don't understand how it works might take it as scam ones the price begins to dip. I would advice your to say off from his decision on what to invest with his families money. You can just give him some tips but dont get too involved in it. If he decides to invest that's his choice so that he will be the one to bear any risk that come with it

Bitcoin investment is a safe heaven investment but it's also a risky investment, we that already have the knowledge of investment won't be afraid when Bitcoin is dipping because we know Bitcoin will increase again. People who sell bitcoin out of fear are like a short time investors or traders, a long term investors are not scared if Bitcoin is dipping and what makes a real Bitcoin investor is the fact that even when Bitcoin isn't skyrocketing they are still buying Bitcoin believing thar Bitcoin price will high.

Of course, when investing in Bitcoin, you must really have sufficient knowledge before doing so and also understand the risks involved and most importantly have a strong mentality when facing significant declines. Because this will definitely happen, even though in the end the price of Bitcoin will rise again, it cannot be denied that if that happens there will definitely be concerns even though we have been in this industry for a long time.
So, beginners must learn and understand everything related to Bitcoin. Even though Bitcoin is a promising long-term investment, it requires sufficient knowledge so that when unexpected things happen you can handle them.