Quote from: Rockstarguy on Today at 05:03:51 AM

Quote from: MissNonFall9 on November 25, 2024, 01:46:56 AM

After listening to you I can convince myself to invest in Bitcoin again. Although I have little knowledge about Bitcoin and I think this knowledge is not enough yet. I have invested very little in Bitcoin, which has given me a good profit. But now that the price of Bitcoin has increased, I am getting more and more worried about investing or to be honest, I am a little afraid. Because I am a child of a middle-class family and I have to think very carefully about what I have to do.
However I think I want to use some of my money to invest in Bitcoin for at least another year. If I could get some more advice from you on how wise it would be, I would be very benefited from my heart. Because my Bitcoin journey is very difficult and ignores family opinions.

If the price of bitcoin is a problem to you, then you will never invest in bitcoin. For you now the price seems very high to invest that is why you haven't still invest yet, if you wait till next month it is possible that the price can get increase more than what it is right now and you will still regret if you had known it would have been better to invest when the price was lower and you will still not be able to invest when regretting of not buying when the price was low before.

The reason why many people feels the price of bitcoin is too high to invest is because they want to make quick profit and they are never ready to hodl. if high price is a problem to you what stopped you to invest when bitcoin was at the low?. If you really want to invest bitcoin and to hodl, and not having plans to make profit quick price will never be problem, you can invest at all time knowing with hodling you can get a better profit.

Well, after reading his statement I'm not very suprised cause he said he has little knowledge about Bitcoin therefore I might be right to conclude that he doesn't know about the DCA method hence he won't be worried about the price, lots of people that's missed the opportunity of accumulating more Bitcoin at a fair price did so due to the price cause while they're confused and waiting for it to drop it mostly go higher this period and then you see them regretting. BTC, is on the road to 100k, it's currently at the 90k mark and would definitely get to 100k so if I were him, I'll seize this opportunity to accumulate more but since the knowledge he's got about Bitcoin is not enough to convince him into doing that I'll advise he learn more about Bitcoin, especially about strategies that would help him accumulate more Bitcoins for instance the DCA, that's immune to the volatility of Bitcoin. However he made a statement that he's made profits from Bitcoin with the little he's invested, I just hope he's not one of those who come into Bitcoin investment with the mindset of short-term goals and taking profits from their investment when it's not due, else it would be right to say he's on the wrong path of Bitcoin investment.