Why do you want bitcoin to pullback 20%? When you look at the 4 year cycle, no matter what price you bought at, you "are in the money". Furthermore, There will be no warnings about price fluctuations, but you should not be worried about fluctuations if you are a long term holder. Again I point you to the 4 year cycle.....  

I think it's impossible to become successful in Bitcoin so fast unless maybe he was able to time the market correctly and accumulate aggressively or lump sum when the market was at dip and sell out when the price increase if this is what happened then it's not investment but trading/gambling.
Well it's very wrong to put all hope on one basket abandoning all other work and focus all on Bitcoin can be very problematic unless such person is gambling which is too risky maybe he never got the right knowledge about Bitcoin investment it is better he accumulate from his discretionary income using the DCA strategy and hodl for long, Bitcoin investment Is a long time Investment so we should accumulate with the amount we can afford to loss incase it doesn't went as plan it won't affect us emotionally.

In my opinion, you (your friend) should adhere to the following investment strategy...🃏

If you are simply creating capital, then you should forget the word "diversification". It makes sense for you to focus on one type of asset. You will not be able to invest equally successfully in works of art, precious metals, stocks, bonds, alternative cryptocurrencies, bitcoin, memecoins, and so on. To succeed, you need to focus on one type of asset, you must study and understand the object that is the object of investment for you well. 🎯

If you (or your friend) strive to invest in all assets in a row, then you will be like a gambler who came to the racetrack and bet on all the horses at once. Of course, such a person will not be able to win in this game of chance. 🐎

But, I repeat, this is true only for a situation when you are still at the stage of creating capital. When you already have a large capital (you have already created it), then, of course, you should not forget the word "diversification".  And it makes sense for you to invest your capital in different types of assets - in bitcoins, in stocks, in real estate, in deposits in a commercial bank, in gold, and so on. After all, at this stage, it is more important for you to preserve your capital, rather than increase it. 🌐

Therefore, in my opinion, if your friend is just creating his capital, then you should not criticize him for focusing on bitcoins. Because if he seriously studies the first cryptocurrency - both in terms of technology, and in terms of current legislation, and in terms of pricing, then I have no doubt that success awaits him!🎂

If you've already made up your mind and the advice of others doesn't have any impact then there's really nothing to talk about. You are better off choosing to use a third party rather than having bitcoin in your own hands. But what in the title you are still asking, while from this statement it feels like the decision is final.

Basically, the IMF only wants cryptocurrencies not to be a pillar of the economy of countries, because they fear that it will cause the traditional financial system to lose value and empower countries with a free system without an intermediary since they depend on international loans, so every false step that Bitcoin may take, they will take it as an argument for criticism, I would say that they are the paparazzi of cryptocurrencies and the countries that adopt it or go in the same direction.

I think it never hurts to be "too paranoid"!  lol.  Backups of backups of backups.  Multisig etc.  Particularly if you have something you don't want to lose.  It isn't like the bank or credit card where you can get help from anyone.

People need to be careful, knowledgeable and disciplined in practice.

Hardware wallets are good wallets but there are open source and close source and the advice is always towards open-source hardware wallets.
People need to choose good hardware wallets, purchase it a right way, and use it a right way. In addition, using it a right way includes making a wallet backup properly.

[LIST] Open Source Hardware Wallets
[GUIDE] How to buy a Hardware Wallet the right way.
How to back up a seed phrase?

Those are merely personal projections which may, or may not, happen. BUT if someone during 2010 told you that Bitcoin will surge to a six digit valuation, and that nation-states, large companies, and possibly central banks would purchase and HODL it in their vaults, would you actually believe them?

A person like you, during that time, would probably say that $1,000 or $10,000 isn't definitely NOT the limit. Although personally I believe that Bitcoin's price valuation limit is if it surges to the total market value of Gold.

Ya agree, I think best is just provide the facts from own experience regardless they swayed or not. Its not emotion even its just a lot of misunderstanding and lack of real experience on actual exchanges. Happy to share this for them

That is - adoption! A real one!

It's not about a company buying Bitcoin to hold and to sell when the time is right. This is a real opportunity to make transactions in Bitcoin for your purchases. So glad to hear about it.

The usage of LN makes sense because we need transactions to happen quickly and with low or no fees. That is not possible in native transaction flow so adopting LN is a smart move.

I'd like everything about this development, because it encourages for more active use of bitcoin in making payments and also help contributes to the adoption of bitcoin as its more found in an applicable manner for business to accept it use for making payments, In addition, the use of the lighting network is also another added advantage, because transactions are more faster using it.

I don't know what bothers IMF, because whether they've made a purchase or not is up to them. The IMF tries to support a nation in its well-being, but these days such incidents aren't happening. In the past, the IMF had big roles, and now countries are trying to stay self-reliant and improve their economy. After the young president of Burkina Faso made the country people work for the betterment of the nation, there was a big transformation. Similar things were experienced by El Salvador on the adoption of Bitcoin. Even if the country is lying to the world for the betterment of the nation, there's nothing wrong.

I remember back in 2017 some dumb news articles were saying how there wasn't enouogh BTC to go around once institutionals would hit it. Then again in 2021 the false idea came around again, this was around the time MicroS started buying big in the news.

I mean, until today I never heard an exchange say, oops guys sorry, no more BTC.

Price will 1 million $$$ before any exchange ever runs out

They only get disappointed if they expect badly that they could able to pull a win easily on those raffles, but unfortunately those expectation didn't happen and the other people declared as lucky victor on that roll.

If they just condition their mind for not expecting anything and what they just do is to get some entries then let the luck came if we win then good if not still its good for sure that they would never get disappointed or feel bad for ourselves if we don't win on this. Raffle like this need extreme luck and if we didn't posses such state then its less chance for us to win some reward from this activities. But still good to see someone is winning since somehow it can inspired other people to participate more and maybe same with those winner their time would come then they get lucky with it.

This is the ideal way to manage our funds of course but I guess some people can't really help themselves. If they think they still have bitcoins to spend, they might not budget well and just go and spend on whatever things they want to buy necessary or not.

I saw that one million naira is equivalent to about 653.85 dollars. Now to answer your question, I will say yes, it is possible to start trading not only in bitcoin but also in other cryptocurrencies and it is a good amount to build a good career, but remember that this only applies to professional traders who knows the analysis kill like the fundamental and as well the technical analysis.

But this does not apply to those who are new to this market because they may face losses while trading this $653.85 and it is normal that they will not know the right way to recover. So I will tell you first gain good knowledge about analysis skin and then start trading. And in the meantime what you can do is start storing stable coins targeting the upcoming bear season and invest in Bitcoin for long term in bear season and book profit by selling in bull season.

It's not a bad idea strategy if you have a big stash and trading as a hodler as the small gains make a big difference,  it even gets better if you are leverage trading which will give you profits either markets go up or down...

But for a small account,  you might trap yourself and buy expensive bitcoins..and besides today people talk about DCAing and selling shouldn't be the idea  

BTC to the moon

Bitcoin has always been on top and it always appreciates more in value compared to altcoins. There are lots of altcoins that are no longer valuable or should I say that they have faded away but Bitcoin still stands strong. When you are considering to make a long term investment in the crypto space you must think about Bitcoin first. Altcoins should be for people who are trading, be it a swing trade or whatever they prefer