Is it too late for newbies? - page 6.

sokani

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Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

Hello guys,
I'm happy to be part of this community, and so far I've realized that everyone is more experienced than me, so I don't know how logical it is to ask this question, but I'll ask it anyway.

Is it the right time to invest in Bitcoin?

First I would like to welcome you to the forum. And it is not actually too late to invest in Bitcoin as no knows what the bottom is right now. Early this year the price was at 15k for sometime, then pushed through to 30k and later retraced to 24k. Currently, it has corrected itself to 30k price mark. There are lots of speculations about the price in the coming months but the truth is no one truly knows. We might be in for a bull run. The bitcoin halving is around the corner, which is actually a year from now and If you can grab a bag and hodl, I'm pretty certain you will be in profit when the bull season finally kicks in.

Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

What would you recommend for someone who has no previous experience?

You're in the right place. Stick around, read and learn. If you have any questions feel free to ask and the forum members will always be there for you to answer and guide you through your crypto journey.

Lucius

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Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

All my friends are talking about cryptocurrencies, but I still can't wrap my head around it.

I guess all your friends are talking about how to get rich by investing in cryptocurrencies, and they're not interested in anything else. Such an approach usually means that there will not be too much success, because without knowing what you are investing in, it is only a question of who will fall into what trap. Learn first, understand the basics and don't invest more than you're willing to lose.

Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

If you have any success stories you would like to share, I would be very grateful if I could benefit from them as well...

Don't go in that direction, because the internet is full of "success stories" of those who promote various crypto projects and want to catch you on their hook. Stories about luxury houses, yachts and cars are not something you need to plan your investments on.

Agbe

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Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

Hello guys,
I'm happy to be part of this community, and so far I've realized that everyone is more experienced than me, so I don't know how logical it is to ask this question, but I'll ask it anyway.

Is it the right time to invest in Bitcoin?

All my friends are talking about cryptocurrencies, but I still can't wrap my head around it. What would you recommend for someone who has no previous experience? Do any of you have resources that you can recommend to me that will explain cryptocurrencies in the shortest and most simple way?
If you have any success stories you would like to share, I would be very grateful if I could benefit from them as well...

To invest is the problem, and the problem is how do you understand the crypto market? Can you face the consequences ahead? You can read some of he risk involve https://www.forbes.com/sites/forbesbusinesscouncil/2021/06/17/the-biggest-risks-of-investing-in-bitcoin/amp/, https://www.redbull.com/int-en/theredbulletin/bitcoin-trading-risk. And another thing say is, how much do you have to buy bitcoin now? Because the more you buy and store the more you make profit when the bull market will kick start. Bitcoin is still on it bear market so it is the best time to buy and store in the non custodian wallets. But before you buy you have to set your buying time plan. Is it a long term purchase nor short term investment? These are things must be put into consideration.

Yamane_Keto

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Trying to wait for the right time to invest is like trying to hit all targets with one bullet while you have a stockpile of bullets. You will need exceptional skills in technical and fundamental analysis and knowledge of economic variables to know when is the most appropriate time to invest so that you invest at the lowest possible price so that you can sell at the highest possible price. Start with simple, beginner-friendly strategies like DCA..

BD Crypto

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Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

Is it the right time to invest in Bitcoin?

Of Course you still have opportunity to invest in Bitcoin and we can say Bitcoin is still very cheap. So it's a perfect time to enter the market. But to maximize your investment try to do DCA(Dollar Cost Averaging)

Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

What would you recommend for someone who has no previous experience? Do any of you have resources that you can recommend to me that will explain cryptocurrencies in the shortest and most simple way?

I will suggest first to learn about crypto, know how it works and about it's potential. Then gather some experience and analysis the market. Because almost every newbies do wrong while investing in Bitcoin like they don't think about security issues or they do FOMO buy or fall into BullTrap. So better to analysis about Crypto , Bitcoin and Market then invest how much you can afford to loss. Again there are many resources to learn about crypto you can watch YouTube videos, read articles etc. To know about Bitcoin then read this article: https://www.coindesk.com/learn/what-is-bitcoin/
To know about Cryptocurrencies: https://www.forbes.com/advisor/in/investing/cryptocurrency/what-is-cryptocurrency-and-how-does-it-work/ read this one.

Hatchy

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Welcome mate to Bitcoin world. I know how hard it is for you right now, to wrap your head around it, because I too felt that way when I first was introduced into Bitcoin. You are experiencing what is called FOMO(fear of missing out) and this is driving you to want to invest in Bitcoin.
I just have one advice for you, it helped me too back then. Just because you feel intimidated by your friend who keeps talking about cryptocurrency or own them should not make you rush into investing without proper understand of the theories behind Bitcoin. You have to take your time, do research, study everything you need to know for now and as time goes on, you will get to know more. Dont rush into investing in Bitcoin and end up loosing everything. Remember Bitcoin is not a get rich quick program.
Also it's a good thing you found your way here to this forum, as we have Bitcoin experts here who are willing to help you all through your journey as a bitcoiner.

Here's a topic you can check out introduction to Bitcoin

hd49728

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Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

Is it the right time to invest in Bitcoin?

You can invest in Bitcoin anytime you are ready to spend your money and are ready to lose your money. Because investment has risk and you can have profit or loss with your investment.

Using your money to invest is reasonable only if you don't need that money for your life, food, different bills, expenses. If you have to borrow money to invest in Bitcoin, it is never right thing to do.

Quote

If you have any success stories you would like to share, I would be very grateful if I could benefit from them as well...

Welcome to Bitcoin market and you must listen to lost stories rather than successful stories. This market is very challenging and risky, don't listen to successful stories and think you will be rich easily.

JeromeTash

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Heisenberg

Welcome to Bitcoin and Bitcointalk

It's never too late, mate. I remember when I joined the forum in 2017, honestly I thought I was too late in the game, but I made some money I think would never make if I had not known about bitcoin. I have also learned a lot about trading over the years

Just so you know, it's all about persistence and learning something new. Do not go in with a mindset of getting rich quick overnight. Even the Bitcoin millionaires from the earlier days are millionaires today because they believed in Bitcoin and held it for years when it was still of no value.

This should be good for a starter like you BITCOIN INFORMATION & RESOURCES

The forum also has so many educative threads if you use the search button and want to know about something

superman184

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Quote from: esinka1903 on June 23, 2023, 07:04:35 AM

Hello guys,
I'm happy to be part of this community, and so far I've realized that everyone is more experienced than me, so I don't know how logical it is to ask this question, but I'll ask it anyway.

Is it the right time to invest in Bitcoin?

All my friends are talking about cryptocurrencies, but I still can't wrap my head around it. What would you recommend for someone who has no previous experience? Do any of you have resources that you can recommend to me that will explain cryptocurrencies in the shortest and most simple way?
If you have any success stories you would like to share, I would be very grateful if I could benefit from them as well...

Hi, If you log on to this forum just to ask a question like "Is this the right time to invest in Bitcoin?" Actually you can just ask a question like that to your friends who are talking about cryptocurrency. But it doesn't matter if you want to ask here because this is a very common discussion forum for everyone and at this point I will give the answer "YES" now is a very good time to invest in Bitcoin.

But if you still don't have experience for such work, it's better for you to find out some tips about investing and also the risks first so that you can have some extraordinary understanding even though you still don't have experience for this. Because learning and practice are always needed for those who want to try it, but it must be remembered that every job is risky so everyone definitely needs their knowledge before trying it. By the way, what recommendations do you want now besides investing in Bitcoin? So that people here can provide a broader explanation for you.

Cantsay

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Welcome to bitcointalk.

One thing I have learnt from this forum and since I got into bitcoin is that you don't need to know everything that has to do with bitcoin like the advance technical part before you can inveest in it, all you need to do is how not to lose the money you have invested in bitcoin and how to keep your coin safe. And by "losing your money" I mean how to prevent selling below the price you bought.

Since you're new to bitcoin I would you learn about security and privacy because that will enable you prevent some stupid mistake most of us made before realising it. Next is to learn about wallet so that you can easily distinguish between a non-custoial wallet and a custodial wallet, an open source wallet and a closed source, etcetera.

As for the bitcoin itself it would be best if you learn how to do DCA because that the best way for newbies to get started without having to regret why they bought their coin at this price or at that price. But to effectively carryout DCA you're going to need discipline.

esinka1903

newbie

Activity: 18

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Hello guys,
I'm happy to be part of this community, and so far I've realized that everyone is more experienced than me, so I don't know how logical it is to ask this question, but I'll ask it anyway.

Is it the right time to invest in Bitcoin?

All my friends are talking about cryptocurrencies, but I still can't wrap my head around it. What would you recommend for someone who has no previous experience? Do any of you have resources that you can recommend to me that will explain cryptocurrencies in the shortest and most simple way?
If you have any success stories you would like to share, I would be very grateful if I could benefit from them as well...

Topic: Is it too late for newbies? - page 6. (Read 762 times)