He had aslo told me that he's contented with his monthly salaries at then but now he has fall back to me that he's ready to invest because he has lost his job and it's becoming tough for him to meet up with his financial requirements.
Then I reminded him that the bitcoin investment isn't a get quick rich and for an individual who has bills and financial needs to respond to as responsibility, you must have an alternative source of income by which your bitcoin investment can only be fertilexbti yield profits when you invested and doesn't panic it to grow else he may end up selling his bitcoin at lost having me to be blamed.
So I've told him that I'm not involved if he gets to Invest at this time because I know he'd panic over the volatiles of the bitcoin market since he doesn't have another source by which he can rely on earning income to process his financial needs. The choice is his to decide because if he had alternated his source of earning to bitcoin since I told him, the dividends of his bitcoin assets would had be reliable to him after much he may have made some profits from it. It'd had also served as means of savings and factor to encourage him to be economical with his luxury life which he doesn't have the potential to continuesly afford them
Well, yeah, you are right, though. There are some people who need to have other sources of income before they can successfully hold their Bitcoin for a longer period of time when the Bitcoin investment is very profitable to them.
It's easy to invest when you don't have another means of survival; the disadvantage is that such investors may not be able to hold until the bull market is reached. While there are some people too who don't have alternative sources of income and yet are still investing for a long period of time, such people are those that are still under the care of their parents or guidance.
For example, there are some teenagers, probably at the age of 18, who are already aware of Bitcoin and any money they get from their parents, uncles, aunts, and friends they will just invest in Bitcoin and hold it for a very long time. They will not bother to sell because they don't have any responsibility yet; they are still the responsibility of their parents.
But, for someone who is married, or perhaps the person is fully grown and has some financial responsibilities to car for himself or herself and car for the family too, it will be difficult for such a person to hold their investment for a long period of time.
In the case of your cousin, you have already passed on important advice, but I don't think he is going to remain jobless for the rest of his life. I assume he will definitely get another job, and while he is seeking to get another job, he can invest some of his savings from the old job. I believe he had some savings from that old job; let him invest some of it in Bitcoin. Let him also get another job or use some of the savings to invest into a business.