Quote from: Betwrong on June 06, 2024, 01:56:42 PM

Quote from: Marvell1 on May 30, 2024, 10:00:54 AM

Quote from: Betwrong on May 30, 2024, 09:09:51 AM

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Investing in bitcoin is not just about holding for a few months to make a profit, but sometimes it can take several years to generate profits because bitcoin is unpredictable. No one can predict anything or know in advance what will happen.

At least we can say that that used to be the case many times in the past. Today, when many predict $200k+ in the future, and I personally agree with that, we still can't say when it will happen. I'd say, it is very likely that at some point next year we'll reach that price, but still I wouldn't say I guarantee that to anyone. The best advice, as always, invest only what you can afford to lose, or, in the case with Bitcoin, invest only if you can afford to lose half of your investment.

But when you tell them what happened in the past, predicting bitcoin will reach 200k USD means you are giving them suggestions and intending to advise them to invest in bitcoin even though it is not advice direct.

That's not necessarily too bad, but I think you need to emphasize the risk more to them instead of just talking about the returns they will get when they invest in bitcoin. Giving the advice “only invest what you can afford to lose” is certainly indispensable but what worries me is whether they will actually follow your advice or will they invest with borrowed money or money that cannot be lost. For someone who is unemployed or has no source of income and wants to get rich, they can do anything without caring about the risks they will face.