Can I recommend a friend to buy Bitcoin now? - page 15.

coin-investor

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Quote from: Robinson66 on July 26, 2021, 02:26:30 AM

Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。

When it comes to investing advice it's always on individual preferences or decision as long as they know the risk and they know the market condition if your friend wants to buy because they believe that it's a good time to buy and he is investing what he can afford to lose, then let him proceed, in my experience, I always tell my friend to read a lot and fill themselves with the relevant informant that will help them to buy and sell at the right time.

Shohanur

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Personally I don't want that someone blame me for any decision. I'm not a financial advisor and don't take money for this decision. So why I will take this risk by giving recommendation to others. I can provide all the information about bitcoin like advantages, features, opportunities, why it can pump and so on. I don't like to involve in one's personal decision.

Hamphser

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Quote from: Kittygalore on August 19, 2021, 09:39:21 AM

Quote from: rahmatrf331 on July 29, 2021, 10:59:28 AM

Quote from: Kittygalore on July 29, 2021, 10:54:08 AM

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I don't think it's necessary to continue discussing the risk to you because it makes your friends continue to panic and be afraid to invest. It's a good idea to explain strategies and steps to play cryptocurrencies properly and correctly. when exactly to buy and when exactly to sell.
I think if it's like this, your friends will be easy to understand and interested in investing.

Now that's a stupid one, if you aren't an expert on trading or works as a professional on the field, you don't have the right to discuss strategies because you're just feeding them BS that might not work for them. Telling them right away the risk is much better because you let them know what they're getting into so they won't blame you when there's losses.

Blaming would be there because they do know that you are instructing them on what to do and giving out somewhat some assurances with crypto investment and if it turns out to be bad then theres no other that they can blame off but only you.

You can recommend bitcoin to a friend but always remember to tell off about the risk so that they wont really be expecting that much in regards to this.
They would only realize off things when they do already got the experience on their own. Just dont make any assurances that they could really profit off from time to time.

carlisle1

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Quote from: awakpane on August 19, 2021, 06:58:56 AM

Indeed, bitcoin trading is very good, especially if your friend wants to buy bitcoin for a profit, this is the right moment to invest in crypto. But you also have to be able to explain to your friends the advantages and disadvantages of investing in digital currency. The purpose of investing is to make a profit, and the biggest risk of investing is losing capital. So invest in what you know.

Invest only when you already understand what you are doing. Yes,
Bitcoin or crypto is a good investment but unlike other form of investment the risk is too high if you don't know what you are doing.

people who wanted to invest need not only recommendation coming from those who knows this investment, but they also needs to work
with their own understanding, i's easy to say that by now and hold but the attitude after seeing the volatility will be the question in the
long run, if your friend is not mentally ready he might fear and lose his investment.

Kittygalore

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Quote from: rahmatrf331 on July 29, 2021, 10:59:28 AM

Quote from: Kittygalore on July 29, 2021, 10:54:08 AM

~

I don't think it's necessary to continue discussing the risk to you because it makes your friends continue to panic and be afraid to invest. It's a good idea to explain strategies and steps to play cryptocurrencies properly and correctly. when exactly to buy and when exactly to sell.
I think if it's like this, your friends will be easy to understand and interested in investing.

Now that's a stupid one, if you aren't an expert on trading or works as a professional on the field, you don't have the right to discuss strategies because you're just feeding them BS that might not work for them. Telling them right away the risk is much better because you let them know what they're getting into so they won't blame you when there's losses.

awakpane

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Quote from: Robinson66 on July 26, 2021, 02:26:30 AM

Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。

Indeed, bitcoin trading is very good, especially if your friend wants to buy bitcoin for a profit, this is the right moment to invest in crypto. But you also have to be able to explain to your friends the advantages and disadvantages of investing in digital currency. The purpose of investing is to make a profit, and the biggest risk of investing is losing capital. So invest in what you know.

bakasabo

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I would never make recommendations when to buy or sell cryptocurrency. Every person should make his own decisions. Because I dont want to be responsible for something I can make influence on. I cant influence on the price, but in case of failure I would be one to be blamed.

Instead I would better introduce Bitcoin or cryptocurrency itself to a person, showing how easy can be earned, and how easy everything can be lost.

rahmatrf331

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For now I think the bull period is not over. Better to do day trading on some altcoins for now. I feel the 4 year cycle of bitcoin is still in effect. Maybe at the end of the year you can start buying btc When the bears have appeared.

bitcoin fortress is not over and never ends, you can still recommend your friends to invest now because bitcoin is in decline.

I see investors now too greedy to expect bitcoin to be quickly pumped at a high price, while only a few weeks of investing has not yet been months. To get big profits, of course, you have to be patient.

work in the government and in private companies, you have to be patient a month before you can be paid. now it's only been two weeks of investing, it's just starting to give up and it's frustrating when the price is slightly corrected.

Fredomago

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Quote from: huu78 on August 18, 2021, 05:21:03 PM

I think if you want to invest long term this is not too bad, I mean use safe money, where this money is no longer needed for the next few years. I believe bitcoin investment for the next 4-5 years will yield more. I see around many of my friends and relatives who are just getting to know crypto and are starting to choose Btc investments over gold.

No doubts, with such success over 10 long years, there are many people who are now into this investment. Believing that after some year the value will increase and give them decent profits.

It's not bad if you are going to treat it as long term and you are sparing money that you intend to save, better than keeping it in banks.

Bitcoin has that impression to grow. The cycle, though, is really hard to understand, but keep in mind that it always bring nice outcome for those who can hold and wait.

huu78

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I think if you want to invest long term this is not too bad, I mean use safe money, where this money is no longer needed for the next few years. I believe bitcoin investment for the next 4-5 years will yield more. I see around many of my friends and relatives who are just getting to know crypto and are starting to choose Btc investments over gold.

Fortify

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Quote from: Robinson66 on July 26, 2021, 02:26:30 AM

Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。

You will never be able to predict the direction that bitcoin is heading, even if we are in a speculation section of the forum. It is a very bad idea to start handing out investment advice in a field that you (or anyone else for that matter) have no way of determining the future. It is not as if you are saying - put your money in this bank account it'll earn you 4% per year guaranteed! or even, this company has been around for a while and is very unlikely to go out of business - you can make 7% per year on your money if you invest based on my extensive research. If you truly value this friend, you can describe why you think Bitcoin will rise, e.g. a steadily diminishing pool of a desirable asset, but make sure they are aware of the risks - it had a similar level of flight as the stock market when a crisis (Covid) struck.

Sanugarid

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You can but you have to advice your friend that he/she should assess if he/she is a patient person that can wait for months if not years for his/her investment to go up and if she/he can stay calm when the prices aren't doing good. Now if he/she feels like no for both then they shouldn't invest right now.

leea-1334

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Quote from: smyslov on August 18, 2021, 05:25:07 AM

Forget about the market condition and urge your friend to buy Bitcoin for the sake of having it, learning how to use it, transact it, if he experienced how to use and like it, he will do research and will eventually find out the beauty of using and holding Cryptocurrency, once he experienced it then he decides for himself what is the right time to buy more, he should first understand it.

Actually,,, a very bad idea. Never tell anyone what to do with money they might or might not have. Only saving money is what I can feel is safely adviced, to not spend on unnecessary things.

Let us not forget Bitcoin is known to have extreme volatility and can dip down as far as 90% before going up again.

Friends may not have the patience to wait until years.

mumang siat

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Quote from: Robinson66 on July 26, 2021, 02:26:30 AM

Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。

Anything can happen for now, but if the biggest opportunity is in our favor, then it's only natural that we sell the coins we have, rather than taking risks that are uncertain in the future, bitcoin is now good and suitable to be released, considering the current bitcoin price even higher than in previous months.

But if you can be patient, it's good to save the bitcoin for sale in the next year, everyone even the experts have made many predictions, that bitcoin will experience a good selling value in the following year.

smyslov

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Quote from: Robinson66 on July 26, 2021, 02:26:30 AM

Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。

Forget about the market condition and urge your friend to buy Bitcoin for the sake of having it, learning how to use it, transact it, if he experienced how to use and like it, he will do research and will eventually find out the beauty of using and holding Cryptocurrency, once he experienced it then he decides for himself what is the right time to buy more, he should first understand it.

BobK71

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It is true that if you don’t want to take any risk then you can not make good profit. If you believe cryptocurrency has a bright future and will change the world, it doesn't necessarily matter whether you buy when Bitcoin costs $60,000 or $30,000 per token. If it ends up reaching, say, $500,000 per token someday, you'll make a hefty profit regardless. Of course, there are no promises that Bitcoin or any cryptocurrency will succeed. But if you're going to invest, it should be because you believe in its potential and are willing to hold on to your investments for years or even decades. If you're only investing to try to make a quick buck, that's a dangerous game and you'll likely end up losing more than you earn. So think care fully before investing your assets.

Fatunad

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Quote from: Evgenklm on August 17, 2021, 03:40:10 PM

I would not advise my friends to do anything with cryptocurrency at all, it has serious consequences, because the market is so volatile that you can make a mistake with the forecast and lose a good friend because of such a recommendation.

Market is indeed volatile but come to think that this isnt something that talks about losses but also with gains too because volatility could really give out that kind of opportunity but of course there would also be the risk.
If you do just simply tell your friend about the opportunity and the risk at the same time then he would really be that aware that he could possibly lost up money too but doesnt mean that it would risk up your friendship between you two.Just dont forget to tell him about the risk because this had been a default thing when you do step your foot into this market.Investment does always come with risk even though we arent talking
about cryptocurrency market.

Evgenklm

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I would not advise my friends to do anything with cryptocurrency at all, it has serious consequences, because the market is so volatile that you can make a mistake with the forecast and lose a good friend because of such a recommendation.

Hippocrypto

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Quote from: Robinson66 on July 26, 2021, 02:26:30 AM

Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。

Good suggestions mate, because for those people in panic I guess that the end of their trading career. If there's a friend who's still with doubts with Bitcoin, we should guide them accordingly. Eventually if they're starting to buy while volatility is there, having an option to hold long term is a good strategy that has an assurance for future gains.

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Quote from: Robinson66 on July 26, 2021, 02:26:30 AM

Bitcoin is now rising, and it has jumped by 3k in less than 10 minutes. Although everyone is happy but also worried, is it going to fall again?
My friend asked if I can continue to buy it? But I see a lot of people commenting that giant whales are now controlling the market. I told my friends not to enter the market for now, but my friends seem to have misunderstood me.
Do you think that this kind of market should be forbidden to enter or continue to buy?
I suggest not to panic selling。

Maybe let your friend know what risk behind this kind of investment. And then beside you maybe suggest him with your analysis, make sure he learn about technical analysis too so he not wrong to enter market if he do trading alone. If me i think any price of bitcoin as long it is not really in peak is good to buy, because we still can hold it if price fall and usually in future price can be better.

Personally I am against giving such direct recommendations when it comes to money to other people even if they are my friends, and the reason is that if they lose money following your advice or something resembling your advice they are going to blame you for those losses, believe me that happened to me and I am not making that mistake again, so it is better to let them take their decisions by themselves and if they do not have the knowledge to do so then there is nothing for them to do in this market and instead they should just get out and wait until they know what they are doing.

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