https://www.livebitcoinnews.com/4-in-10-americans-will-never-invest-in-bitcoin-says-latest-crypto-study/I've known some few friends who are into forex and stock investments. When they've learned that I engage myself into crypto trading and investments they discouraged me due to bitcoin's price volatility and unpredictable fluctuations. All I can say to them is that I only invest an amount that I can surely afford to lose and taking huge risks will definitely compensate you good returns as well. I bumped into this article saying that 4 in 10 Americans will never invest in bitcoin, which is somewhat realistic but still history can really tell that bitcoin has changed lots of millennials who took the risk and profited when bitcoin value skyrocketed to almost $20k last year.
So with this article it shows that there is still high percentage of Americans that is willing to take risks to invest in bitcoin just to make some good profit in the near future. What are your thoughts regarding this one? Share me your thoughts.
I don't agree with your assertion. In your post you comment that you invested an amount that you could afford to lose, therefore, I consider that the risk was not too high and this is precisely why you had benefits. A person who invests an amount too high according to his possibilities will be more likely to make the wrong decisions and lose his money.
It seems like OP was saying that he felt justified BECAUSE he was only investing what he could afford to lose. And that principle applies to investing in the stock market as well. There are plenty of risky stocks that you could blow a wad on.
And in reply to bartolo, I definitely agree that people investing money they can't afford to lose make lots of poor decisions. I can't even tell you how many people in the crypto world I've seen saying, "omg, this coin/token/project is going to moon soon! just borrowed $$$ to invest!! lambo soon!!" and then maybe a month later, "omg, why are ppl selling so low! i need price higher so i can pay rent".
Another mistake I see people doing is quitting their day jobs too early. This mistake is not confined to the cryptoworld. People can also make this mistake when they start a business on the side and the first decent check they get, they put in their 2-week notice. But then two weeks later when sales trickle (aka altcoin/token price drops), they are FREAKING OUT.