Topic: Can I recommend a friend to buy Bitcoin now? - page 14. (Read 4152 times)

Inviting a friend to invest bitcoin is a good thing, this is an investment that has proven to be very profitable, but we don't force him to buy immediately, it's better to provide all information related to bitcoin, if he is sure to buy then recommend a trusted exchange because when there are too many scam exchanges.

You recommend your friend to buy Bitcoin any time. There is no certain time to buy Bitcoin. If you missed the dip, then no worries. You can still make an investment into Bitcoin considering it is going to be for a long term. Eventually, you can make a lot of profit. But being patient is the most important thing. Maybe you will wait for a year or more time. But it will be worth the wait.

would definitely feel bad for giving recommendations that didn't live up to their expectations lol. better to just educate the good and bad investing in bitcoin. and ask or explain more about of his investment plan for long term or short term . and provide a clear explanation of bitcoin price movements and volatility in market price.

yes, I would also probably do the same. I will explain what I know about bitcoin or cryptocurrency, then I will give the final decision to him. many people blame others when they get lost in the crypto world because of such an invitation. even though there is currently so much positive news regarding bitcoin or other cryptocurrencies, we can't stop FUD which usually comes suddenly and dumps prices again. however, give him as much explanation as possible, and give him references to charts and news. maybe you can explain to him about the popular coins in CMC or CG, it's very easy to understand. other than that, try to give him an idea about the potential of a coin, and you can give him a reference in graphic analysis that is usually found in online magazines such as Cointelegraph.
again, let him decide whether he should buy or wait. make sure to tell him DWYOR

Investing on Bitcoin is always profiting, but it requires patience if the investment is made at the top. The market at present seems to be bullish and so investment by now could get profit if made in large volume or as a whole unit. Investing on small volumes requires patience to enjoy the profit. To make a minimal profit it is good to invest unlike the market and its price. Just buy and get into regular trading which gets you an earning out of the market fluctuation.

It is already almost a month and if your friend had listened to you that time, they are in profit already.

This current view of the market trend really gives some hope and possibly it going to happen that we were able to reach $100k someday, next year? Who knows, exactly. Investing this current price is totally risky as we are hyped but might it happen that this will be the last time we ever see Bitcoin at $40k plus.

From $30k plus, going to the $40k level, I was thinking the $50k level will be the next target.

They will certainly blame you if you're the one who's been encouraging them to invest.

But if it's your friend that asks for a help then you're not accountable for whatever is the outcome of his investment through bitcoin. But it is bitcoin and it's understandable that it's best for long term.

Still, there's a need to explain how high its volatile is.

But there are really some friends which are really asking out some suggestions to their friends and its really different when it comes to suggestions neither a friend would really be that mindful on giving out best suggestion or wouldnt really care at all because its their money then its their full decision to make but it isnt bad to give out some warnings that cryptocurrency investment isnt something talking about easy money or profits
on where most newbies or noobs do really think off. Invest on their extra money and dont make use of their life savings or money which are intended for more important things.

Get him to decide for himself.

Why should you feel the obligation to recommend an investment strategy to someone else entirely? If it doesn't pan out, they will blame you and your reputation is on the line.

Especially with the crypto market at such heights, I would be pretty uncomfortable in terms of selling recommendations to anyone. If you absolutely want to, either tell them to DCA or to wait until a correction below $40k occurs again before buying a lump sum.

We do have different targets or goals towards our crypto holdings because some might  really be active on selling out for fast profits but there are some who do really mind off about long term aspects.
Yes you can recommend bitcoin to a friend but always speak off about the risk involved in Bitcoin that it isnt a sure thing for you to make money and dont anticipate that much so that you
wont really get frustrated about its volatility and you should really be prepared for that when you do step in into  this market. Dont hope that much and only
invest on the amount that you could afford to lose.

As always the best time to buy is when the market is dipping, but we never know how long the market will dip or will it continue to rise, the market is very volatile and sometimes hard to access if you suggest to your friend to delay buying he might end up buying late and on a much higher price and this will cause a strain in your relationship, let him decide for himself when it comes to investing in the market the investor's own decision matters, you can suggest but his decision is the one that matters.

You give them the pros and cons and all of the possibilities of what will happen if they enter.

That's the safest thing to do and you have disclaimer and it's like telling a summary of your experience on them so that they will be aware of what can be their state after buying.

You wont really be having that guilty feeling even if he's your friend as long you do give the warning and hints about the risk of cryptocurrency. It wouldnt be always going on the top and of course you could really

recommend bitcoin to a friend as long you do explain to them about the risk and the earning opportunities and the rest would really be on his own when he do start to step foot into this market.

You shouldnt really make out some assurances because that will totally affect your relationship to your friend once the price had plummeted or opposes on what he do anticipate.

It depends on the type of relationship you have with the person. If someone from your family is new to crypto, you cannot just act professionally and ask them to research of their own. You know if even things go wrong they will never hold you responsible or make you feel guilty for it.

If the relationship is formal, I agree that it's better to inform instead of convincing him/her to put money.

I have suggested so many friends in my college about so many things in past and they always appreciate when things turn out good and make fun if they went wrong. That's because my relationship with them was not family, neither it was formal though.

Although the price of bitcoin is currently high and it's a bit late to recommend it to friends, it never hurts to give it a try so we can be successful together.
and i think everyone now know what bitcoin is because of its increasing popularity compared to the past its hard to recommend to friends because they don't know bitcoin at all, and for now if we believe bitcoin price will hit high price again for long term there's nothing wrong with doing it with long-term investment goals.
and this is what I do now recommend it to some of my friends and I think in the long run it will have less risk and provide the best explanation for them to understand and convince, and besides I share stories about the best experiences when engaging with bitcoin what is I've made and the biggest profit as long as I do it in the long run.
and that way they will be interested and try to find out for themselves and learn to analyze and finally some of my friends get involved and invest, and I also suggest trying to buy gradually when there is a decline and keep doing analysis, and now they have seen profits even if only a little , and they are very happy and I also assure them that the price of bitcoin will reach 100K and will continue to rise and I also advise not to hold it all the time, if they think it is profitable it's up to you whether you want to sell it or not.

That's the best possible approach. Don't force your decision on someone or lure them into doing something but just inform them what you think about it and let them do their own research and due diligence before buying or selling.

No matter how pure your intentions are, if the person you suggested buying bitcoins faces a temporary loss, they will always blame you. I am not just saying but I have experienced something similar to this. It's never a great idea to help someone so much that they start wondering if you have a personal motive behind it.

You can say its ok over time and give an opinion for the next year.   The problem with most us we only want to buy at the cheapest price and sell at the highest price but the irony is the best gain is by capturing a good average not absolutes.
  BTC is very likely to be rising over years, if you are buying during those years you will capture that rise even if you did not get the lowest price you were involved.  The hesitation in trying to get perfect timing ends up being the greater negative then just entering an ongoing market that appreciates.   This is a rule that applies to tons of assets and market sectors, just decide if you want to be involved with crypto and then set a percent you would buy regularly.      Traders are something else, alot of those attempts will fail and trading advice cant really be given its like riding a horse you got to gain experience cant really give it.

To avoid that to happen it's always better to give them pointers to review before letting them to pursue their own careers inside this market.

Recommendation always inside us as we wanted our friends or love ones enjoy those benefits that we are having from this industry.

But the difference is we all understand the risk, and that what you have to introduced to them before anything else, letting them understand that there's always a high risk that they needed to surpass in order for them to enjoy and succeed from this venue of investment.

The issue is that whether you want it or not you will feel good for him when the coin goes up, but the opposite is also true and you feel bad for him and somehow guilty when the coin goes significantly down. I have always refrained from giving a clear recommendation to buy and I did well with it. You can still phrase a recommendation in a way such that you don't really tell him to buy, but wouldn't tell him not to buy might be a better way to put it.
Usually, good friendships are above a recommendation even if it goes wrong because both parties knew that it could happen, but some will be mad at you certainly.

I'm appreciate with your opinion. If he tell his friend to buy Bitcoin and in the meantime if the price going to decrease then his friendship may be broken or his friend can think negative about him. So this is good to recommend him about Bitcoin and tell him to make his own research and after that if his friend think that investing on Bitcoin is good then he can invest otherwise its his choice. Though by investing on Bitcoin anyone can make great profit. But there's always a risk in cryptocurrency.