⭐ Merited by JayJuanGee (1)
It would be really terrible and problematic for you in the future if you think that Bitcoin has no risk at all, yes it's true that the risk attached to Bitcoin is small when talking of other investment, but do not go all in, on your investment in Bitcoin because nothing is certain, so that if Bitcoin doesn't live to your expectations in the future, you wouldn't have to contemplate on committing suicide, that is why it is adviced to invest only what you can afford to lose.
Depression and suicide is real buddy, don't just get into that shitty situation.
Bitcoin is a risk worth taking and I'm very glad that you acknowledge that, you're right to an extent which is why it's best done with the discretionary funds and not going all in I don't even think one would be able to stay long without tampering with their portfolio if they go all in with their income cause they'll have basic needs and other important problems to solve but with the discretionary funds they'll be on a safer side if anything happen in future. But then Bitcoin has given us hope that the future is bright with it and that's what keep every investor motivated to buy and Hodl for long-term. Well it's lived beyond several critics expectations and we're hoping that it would continue to do that for many more years.Depression and suicide is real buddy, don't just get into that shitty situation.
I think about this a little differently, which is that any investment involves risk. But you have to understand that in fact, there can be both profit and loss in investments. And the possibility of this loss is the risk. Now if you look at Bitcoin's past data, you will understand how safe investing in Bitcoin is compared to investing anywhere else. I'm not saying there is no risk in investing in Bitcoin, but I think the risk is relatively low compared to investments in other sectors. However, two things work in most cases when investing in Bitcoin:
1. If the price goes down, I will invest a lot of money at once.
2. Whether the price goes down or up, I will invest regularly.
I prioritize investing regularly through my discretionary income. Let's say an average person earns $1500 per month. If his monthly expenses, including all his family expenses, are $1000, then from the remaining $500, he can keep some of the money as savings as a flexible fund, and he can invest the rest in Bitcoin regularly. However, the risk he takes will depend on how long he can invest. The longer he can invest, the more profit he can make. You should buy Bitcoin from a regular discretionary income fund for a minimum of 4 to 10 years. Without thinking about whether the price will go down or up over time, he will just buy Bitcoin using the DCA method.
Just think, if someone has been buying Bitcoin regularly since 2015, 10 years later he will be a successful investor. But if he continues this investment, then the longer it goes on, the more profitable he will be. We can understand for ourselves that this is indeed a proven fact by looking at the state of Bitcoin today. The chart below shows where Bitcoin could be in the next 10 years.
Source https://charts.bitbo.io/price/
THE MORE YOU HODL FOR LONGER TIME YOU WILL GET MORE PROFT.