Imagine I am a person from the seventies. I know nothing about current technology and Bitcoin.
Hearing the talk of Bitcoin around, I felt that I also need to invest here.
Now what advice would you give me? Which advice will have the highest chances of profiting from investment if I follow it?
In my case, questions are very important for beginners. You should provide your best opinion here. So that the opinions are useful for those who want to start investing in Bitcoin.
You raise an important question. An investor in their seventies might be annoyed if I told them to invest for the long term because I think they need the liquidity to support their family. I think if you don't have a lot of money to invest and you have a steady stream of income, you should start Bitcoin from your discretionary income.
If you have enough floating fund, you can make a lump sum buying. You should using disposable fund for investing and inject money and create a Bitcoin portfolio that you are prepared to lose. Hold Bitcoin for the long term (4-10 years).
If you are in retirement, invest in Bitcoin in small amounts and learn about the market and gain experience. Both short term trading and long term investing experience will benefit you financially.