Quote from: doomloop on September 30, 2024, 08:44:03 PM

Quote from: syedakhlaque on September 29, 2024, 04:17:35 AM

After the retirement minute, to invest your capital or saving on Bitcoin is good. But it is not appropriate to show haste. It is better that Bitcoin business should be thoroughly studied for this purpose. Its maps, flow charts, graphs, market fluctuations and its history should be thoroughly seen. study whale,for Bitcoin Coin, Trading, Staking, Valuation and Mining etc.
Initially ,invest in Bitcoin experimentally and after learning this business thoroughly. Gradually invest and then jump completely in this business. So in this way, your capital will avoid to waste due to inexperience.ٰ I think it is better way to invest and other that God will do it better for you.

Please remember that we are talking about retirement funds here and not just a simple budget that one decides to invest in Bitcoin to earn yearly outcomes from it. The person wants to earn an steady income by investing his retirement funds in Bitcoin which is not a good idea because we know there is no guarantee for short-term gains from cryptocurrencies, especially Bitcoin since it isn't usually as volatile as other cryptocurrencies in the market.

We have seen Bitcoin being stagnant from $28k to $31k for almost six months or so. Imagine if someone has invested all their money into it so that they can earn a monthly income from it and then this happens. So it's not a foolproof plan when it comes to steady incomes.

Bitcoin is only good for long-term investments and not for short-term gains.

Since Bitcoin hit ATH before halving and till now, the price has been correcting and stagnating for more than 6 months and this topic was created in August. And as we can see, it has barely brought any significant returns to any investor who has invested in the past 6 months, let alone being able to give us a steady income.

Indeed, using retirement funds to invest in bitcoin in the hopes of making short-term profits or expecting it to provide a steady income is a bad idea.
Although bitcoin's volatility may seem appealing for us to make short-term profits, the truth is not that simple, bitcoin is only suitable for long-term investment.