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Scraped on 01/05/2025, 15:05:47 UTC
So if you're thinking of going into Bitcoin with the thought of making quick cash then you must be joking cause you'll end up getting disappointed, the best you can do is buy and hold for the future then watch is grow gradually for years, it's a very good investment opportunity with a slow but steady process.
But you know on a second thought, quick cash is also possible with Bitcoin depending on where you entered from. You can have a very short hodl whose profit can be very astonishing to your disbelieve. Alright lets do some little checks here; for example on March 11th, the price of Bitcoin opened at $78,523 and right now, Bitcoin is selling at $96,446. Thus, between March 11th and May 1st is roughly 51 days which is same as 1 month 20 days. Then lets get to the profit margin for someone who took the risk to invest 1btc on March 11th to May 1st , = current price - buying price. That is, $96,446 - $78523 = $17,923. Therefore, $17,923 profit on an investment for just 51 days is get rich quick investment.
Original archived Re: This photo says it all
Scraped on 01/05/2025, 15:00:25 UTC
So if you're thinking of going into Bitcoin with the thought of making quick cash then you must be joking cause you'll end up getting disappointed, the best you can do is buy and hold for the future then watch is grow gradually for years, it's a very good investment opportunity with a slow but steady process.
But you know on a second thought, quick cash is also possible with Bitcoin depending on where you entered from. You can have a very short hodl whose profit can be very astonishing to your disbelieve. Alright lets do some little checks here; for example on March 11th, the price of Bitcoin opened at $78,523 and right now, Bitcoin is selling at $96,446. Thus, between March 11th and May 1st is roughly 51 days which is same as 1 month 20 days. Then lets get to the profit margin for someone who took the risk to invest 1btc on March 11th to May 1st , = current price - buying
price. That is, $96,446 - $78523 = $17,923. Therefore, $17,923 profit on an investment for just 51 days is get rich quick investment.
In most cases, if you invest in certain businesses like bonds or Treasury Bills, it takes a maturity dates other than days but months (periodically) if not a year before payment is made and most times it is 10% that accrues to hodler of such investment. In any case, 10% of $78523 used in buying bitcoin on March 11th is about $7,900 approximately. So with the profit made to the tune of $17,923, bitcoin has already made 20%+ in profit for just 51 days. It is surely a get rich quick investment if you catch the rising star early, you just go under it and take some natural vitamins