Quote from: Su-asa on September 01, 2024, 06:46:17 AM

Quote from: GiftedMAN on March 08, 2024, 08:50:59 PM

I decided to bring this information to our notice here because of a particular event that happened today that I was opportuned to witness. I understand that we all that have been around the forum where discussions and informations about Bitcoin and other cryptocurrency are made have taken the opportunity to invest and some of us if not all have benefited from our investments and it has positively affected our thinking because we now see the investment as something we can not do without. Even as we encourage some of our brethren to invest, we shouldn't made it mandatory as if they will have no other opportunities in life to become rich if they do not invest in cryptocurrency. Back to what I witnessed today which led to this information, a guy was busy blasting his friend in public for not investing in Bitcoin when the price was below 40k on hearing them from afar, I came closer to really understand why he was so angry with his friend I overheard him saying that he can no longer be taking care of him because he refused to invest when he asked him to. There are some people who may never be interested in investing in Bitcoin even when they see the need to invest I think the best thing is to ignore them instead of putting so much pressure on them for them to invest. It is not every one that understands the meaning of investing for the future I think anyone who's interested in Bitcoin investments won't waste time to invest regardless of the current economic situation.

Investing in crypto currency should be a personal decision not something you persuade someone to do, as a crypto trader you know the mental maturity you have built for a long time to make you withstand the pressures that comes with the market, not everyone can handle all that, persuading someone who isn't into crypto to invest in Bitcoin is not really advisable because whatever happens to the persons capital the blame will be on you. Someone who knows nothing about Bitcoin doesn't know that it should be a life time investment, but when it goes down they might start fidgeting and probably make the mistake of selling before it goes back up

Crypto investing is easy for an investor to start with, but it can be easier to manage long-term if he has a rough idea of how far he can stretch his holdings and alternative income streams. Crypto investing is of course a personal matter for an investor but you can give him an idea of the reality where an investor can earn much more profit than what an investor can earn in the real asset market or the stock market by investing in Bitcoin. He should continue depositing bitcoins in DCA method regularly and uninterruptedly for at least one cycle. One can give an idea of the price history of the past years to entice Bitcoin, which certainly cannot be pressured.

Yes many investors don't have the ability to withstand investment pressure but if an investor uses the DCA method to deposit a portion of his surplus money after covering every household expense into Bitcoins, he may find it much easier to manage in the long run. For long-term DCA he should keep a backup fund so that the invested holdings are protected in case of emergency and able to continue for multiple cycles.