Quote from: Olatundespo on December 04, 2024, 04:54:40 PM

Quote from: MissNonFall9 on December 04, 2024, 02:55:16 PM

Quote from: Ricardo11 on November 25, 2024, 02:31:57 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.

In fact, if an investor wants to get something good from Bitcoin investment, he must invest for the long term (at least 10 years), in that case, if we consider your position right now, you are a child of a middle-class family and you have decided to invest ignoring the opinions of your family, which is very risky.
Because usually every Bitcoin investor should use money for investment that he can hold for a long time uninterruptedly, and to sustain this investment for a long time, he must have a strong source of income.
But right now you have none, no source of income, and the money you want to use is also waiting for the opinions of your family, and you want to invest for only one year, and you will have to face a difficult situation even if you lose the money you want to invest. All in all, I think it is better for you not to invest right now. Because we can never expect anything good from short-term investments, short-term investments are always risky, so everyone should plan for long-term investments.
So Right now you need to get a job or create a source of income, and then invest that money which you can afford to lose, and decide to hold for the long term (at least 10 years) rather than the short term. Start with small investments first, from which you can gain experience. And lastly, it is better not to do anything without ignoring the opinion of your family, you should Explain Bitcoin to your family and get their permission to invest and you should also be knowledgeable about Bitcoin.

In fact, as people of the previous era my parents cannot rely on invisible assets. Rather their preferred area is any physical visible assets. But I have tried to convince them with the strength of my knowledge and I am in some experimental investment. However I have made some changes to the investment plan. I find the DCA method very effective and suitable for me. So from now on I will continue to invest following the DCA method. I am very grateful for your opinion.

In choosing DCA as a Bitcoin deposit strategy, you have made a breakthrough decision which is much more effective and appropriate for an investor in modern times. Wealth is an important tool for human survival and if you do not have an abundance of wealth you do not have to be very educated to understand how difficult life is. Just look at the poor people around you and you will understand how difficult life is without money.

With the current price of Bitcoin touching almost $100k and even at this time, if anyone doubts it, they should ask them to compare it with their own country's currency. Since your parents are from the previous era and their Bitcoin, you should be informed about its importance so that there is no confusion among them. However, as an ideal child, you must respect them and continue to deposit Bitcoin through DCA so that your Bitcoin holdings continue to grow along with physical assets.
To continue investing in Bitcoin for the long term, you should have a source of guaranteed income and try to increase your Bitcoin holdings with the growth of physical assets using DCA. If you can complete a 4-year cycle during your efforts, you can inform your parents about the growth and compare it with physical assets so that the importance of Bitcoin becomes clearer to them and they are more motivated to save more than two cycles.

You are right as a child we must have our responsibilities and duties towards our parents which inform us as a good child. In that regard I tried my best to explain the importance of Bitcoin to my parents. And according to your words, I tried and was able to explain the comparative importance of Bitcoin with the money of my country. Because my parents like to save money along with investing in tangible assets. So I said that if you save money, it gets hit by inflation and causes a considerable loss of money. On the other hand, I showed the amount of growth from my small investment. And they liked it a lot and as a result I was allowed to save more. Which motivated me in my investment without any hesitation.