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Topic: I told my grandma to put all her lifesavings in Bitcoin because you guys said - page 19. (Read 7474 times)

legendary
Activity: 2786
Merit: 1031
it will only go up. She bought at $4200 Sad
How soon can we REALISTICALLY see $4200 again and upwards?

Never invest more than what you're willing to lose.

That's one of the golden rules in investments and it's very valid when applied to crypto.

With current regulatory uncertainty in China it can take years before bitcoin hits $4200 again depending on what decisions are made by Chinese authorities in the next two months.
full member
Activity: 224
Merit: 157
We are almost back to $4000 already Smiley My grandma is so relieved and happy!
sr. member
Activity: 406
Merit: 250
it will only go up. She bought at $4200 Sad
How soon can we REALISTICALLY see $4200 again and upwards?

Don't blame us. Blame the governments and financial institutions who are attacking in a organized way to bring down the price of bitcoin. Also you need to understand the power of diversification. It is a thumb rule for any investment. Always make your investment portfolio diverse with more than one asset so if one asset performs bad, the other assets can give a support. So going all in with bitcoin was a wrong decision. She could have bought bitcoin with a major percentage of the investment in to bitcoin but not all.

Secondly. bitcoin price will definitely go up in future but no one is sure, when! So have patience and try to average out the investment if possible. Averaging means, buy more bitcoins at the current price so your average buy price can be lowered from $4200. It may fetch a lot of profit in future. However, have patience as of now and wait for a better time to come. No one really know when it's gonna happen but it will surely happen.
full member
Activity: 302
Merit: 100
sr. member
Activity: 644
Merit: 259
CryptoTalk.Org - Get Paid for every Post!
it will only go up. She bought at $4200 Sad
How soon can we REALISTICALLY see $4200 again and upwards?
This is another newbie investor here, why would you take the world of anyone here because they have a feeling that Bitcoin is going to make them money, that was really stupid on your part but i am hoping that you don't go and do something even more foolish like selling so that you don't lose even more money. The value is going to rise again and you will make some good profits in the end and make sure you research before you invest and not take someone's else word for it.
full member
Activity: 182
Merit: 100
A tip, it is going to drop further to at least $2600. I hope that gives you an idea
No doubt it is true but I think in every investment there is risk in each and every investment. The price of the bitcoin is increasing day by day so I think it is good to invest in it. People believe in bitcoin for the profit but it is not true that people are saying that bitcoin currency is going to face the problems and we need to make it sure that we want to earn from it.
legendary
Activity: 1148
Merit: 1048
Why your grandma put her lifesaving in bitcoin? Yes we said that bitcoin is a gold opportunity to earn money in the future. But what if the bitcoij price decrease your grandmother also decrease the price . Your lucky if the bitcoin price increase and fot sure if  that happen you can earn money or profit. But I suggest next time your grandma want to invest . Invest only you can afford to lose.

Since no one can "afford to lose" all of their life savings, i'd say op just gave g ma a giant middle finger. i assume he got some fracked up Christmas gifts as a child, or he was left out of a will and was told priori. good job junior, now no one gets shit Grin

bitcoin is amazning, and innovative. but the value that the world will take from Satoshis creation is not bitcoin, it is clearly blockchain technology. what thing, that has survived the test of time, has persisted in its original state? do we still drive model t's? do we still use abacuses (dont answer that, some people still do, and they are fucking cold with the shit, check out a youtube video. its like "this is what i needed in high school!")?

anywho, with all that being said, why would bitcoin persist? we already have better alternatives to what satoshi actually intended this to be, rather than what it has grown in to due to our greed. this is no longer small, nor casual. bitcoin will have to evolve significantly in order to survive, and the "democracy" this is supposed to be has failed us so far in that regard.

sr. member
Activity: 462
Merit: 254
Ok, you persuaded yourgradmother to buy Bitcoin. I think you will be lucky. As you see, Bitcoin is recovering and will rebound.
sr. member
Activity: 1624
Merit: 267
Why your grandma put her lifesaving in bitcoin? Yes we said that bitcoin is a gold opportunity to earn money in the future. But what if the bitcoij price decrease your grandmother also decrease the price . Your lucky if the bitcoin price increase and fot sure if  that happen you can earn money or profit. But I suggest next time your grandma want to invest . Invest only you can afford to lose.
full member
Activity: 798
Merit: 103
https://www.swanfinance.io/
LOL  Cheesy

What does your grandmother want with money anyway? You need money when you are 25, not when you are 80. She should be spending money, not investing it.
I am agree with you but maybe people have some reasons to do it in 80 y.o maybe credits or health problem or she want to help to her family. Never know why somebody do this or that maybe there s a real reason. Who knows
sr. member
Activity: 1498
Merit: 271
DGbet.fun - Crypto Sportsbook
That's idiot. What would your grandma do with this money after dying.

if you did this on say, the recent dip, then you are a good seed. but, if you generally suggested that your grandmother, who is probably beyond the age of returning to the workforce, that she should invest her lifes savings into the most volatile asset class in the world, then you are an asshole, good sir Wink

this is why bitcoin isnt ready for the mainstream. lets say your gma bought in at 4.5k. at the moment, she would be dead, because she had a stroke when she saw how much money she lost on Thursday. if the money is of vital importance, that is, an investment rather than just pure speculation, bitcoin is a bad choice. you cannot plan a future budget off of something so volatile. when we get past all this and the price stabilizes (and we get more user friendly), this might actually be sound advice one day.

But the problem is, he advised his grandmother to buy at around $4200.  So that is the temporary problem for OP since price of bitcoin crash and have not recover until that price.  I hope his grandma won't get frustrated or stressed about what happen to his investment after Bitcoin crashed.  He should explain it thoroughly so that his grandma would not worry.
sr. member
Activity: 714
Merit: 250
Investing in bitcoin is a really a risks you should invest on what you can afford to buy. As many said don't pur your eggs in one basket. Be wise in investing of your money that will give a sure return of profit.
member
Activity: 144
Merit: 27
"Quietly Making Noise"
it will only go up. She bought at $4200 Sad
How soon can we REALISTICALLY see $4200 again and upwards?

What about Grandpa and/or your parents? Can they take advantage of the lower prices? You need to tell her it could take 3 years, and make sure she doesn't sell at the bottom (under $1,000) like so many others will.
full member
Activity: 322
Merit: 100
Are you trolling? LOL

Fortunately for you (and your grandma), the bloodshed seems to halt for the moment! Always invest in what you can afford to lose only, definitely not yours or someone else life saving.
newbie
Activity: 46
Merit: 0
All you can do now is hold and hope for the best, though I think BTC is horribly inflated at this point and it will be some time before confidence is recovered and the price stables out once again. Right now the market is just too unpredictable to make any accurate calls though.
legendary
Activity: 1274
Merit: 1004
ok, that sounds very stupid I mean if someone says you that I will give you double of your given money then you will give him your whole life saving without even researching about it. first of all, do not believe others post they are just for reference so you can find answers quickly and secondly whenever you are going to invest any amount no matter how small or big the amount is always research on which you are investing.anyway, btc will soon gonna increase so keep holding your money if you really have it.
legendary
Activity: 1218
Merit: 1007
it will only go up. She bought at $4200 Sad
How soon can we REALISTICALLY see $4200 again and upwards?
I wanted to go to the end of the thread to find something more relevant to talk about but this is one of the worst threads I have seen in a long time. Why in the world are you believing things you see on the internet without any other sources supporting the comments, ON TOP of being a forum that caters to a niche community which is always going to mindlessly support the product, and fervently support it when times are good? That was your biggest mistake.

Realistically it will likely take a while before the market starts moving again, and that can start due to (or due to a lack of) a lot of different indicators. You will need to wait for news coming from China to reinvigorate the market, or wait for other asian countries to start taking up the marketshare.

I also have a feeling you didn't even have her buy on a dip.

God damnit.
sr. member
Activity: 630
Merit: 258
it will only go up. She bought at $4200 Sad
How soon can we REALISTICALLY see $4200 again and upwards?
DAMN STUPID!! you will invest someones money into bitcoin ? well you can be spare on what you did but atleast bought at the low and nont at its High Cheesy you were very wrong on that move you are so excited and didnnt let your brain work !!  poor grandma Sad
full member
Activity: 630
Merit: 100
it will only go up. She bought at $4200 Sad
How soon can we REALISTICALLY see $4200 again and upwards?

Hey Muenze. I think that you should not worry because of this. Since now there is a lot of volatility in the bitcoin market, the price is constantly jumping. In any case, in the future the price of bitcoin will only grow. So do not get discouraged because of his fall now.  Smiley
legendary
Activity: 1148
Merit: 1048
That's idiot. What would your grandma do with this money after dying.

if you did this on say, the recent dip, then you are a good seed. but, if you generally suggested that your grandmother, who is probably beyond the age of returning to the workforce, that she should invest her lifes savings into the most volatile asset class in the world, then you are an asshole, good sir Wink

this is why bitcoin isnt ready for the mainstream. lets say your gma bought in at 4.5k. at the moment, she would be dead, because she had a stroke when she saw how much money she lost on Thursday. if the money is of vital importance, that is, an investment rather than just pure speculation, bitcoin is a bad choice. you cannot plan a future budget off of something so volatile. when we get past all this and the price stabilizes (and we get more user friendly), this might actually be sound advice one day.
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