He was confused at first because he heard that it was unstable and risky.
Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable.
You can enlighten him more by telling him that fortunately, with time, Bitcoin has less volatile price than past years and previous market cycles.Crypto is volatile and even though Bitcoin has proved itself to continue to rise even after each dip, its price is still unstable.
Correction drawdowns in Bull markets become smaller with time.
https://studio.glassnode.com/workbench/bf532ce2-a66b-4798-6deb-bf3ba7decc59
This happens to be true eventually, people come into Bitcoin investment without having a definite plan on ground. At most, they just invest and start hoping to see a pump, take profit and get out. That’s the plan for most of these newbie investors (not referring to forum ranks).
The dumps, corrections, pullbacks is sadly not considers in this plan and when Bitcoin starts retracing even before it advances, you find them panicking. This is what leads to panic sales, no proper information and plan that covers the event of a bearish move.
However, the chart as presented in quote shows a relative consistency in growth through the times and the people that are at the top of the benefits are those that have been hodling Bitcoin through these times. That’s what newbie investors should be looking to do, DCA and hodl for a longer time.
Or without the proper education and without a deeper understanding of what Bitcoin might be and its importance in a world where we our money is controlled and manipulated by the Cabal behind the Central Banks.
But many of those people who merely want to take profit and get out will definitely learn the hard way, and feel very VERY disappointed in 15 to 20 years, when they remember that what they merely had to do was accumulate and HODL.