Greetings my fellow Naija LB users, I brought this topic to seek for good advice from this forum so that I will not miss it in life because, I keep hearing this statement that opportunity come but once but I don't know if my opportunity has come through this plan on ground. I came out from a popular community in my state where we use to do memorial burial every 4 years to honor our late father and, to troll a big party that will make the childrens, youths, chiefs, Royal highness, government officials and politicians to be on ground on that memorial burial to join us to honor our super Hiro and, we use to entertain everyone in that burial with different foods and different drinks. We the children of my late father, we use to contributed #200,000 each in every 4 years to carry out the burial memorial activities and we are 5 in numbers that are alive which the total amount of money we used to spend for the burial is #1,000,000, and we have concluded to increase the money to #500,000 each since the price of commodities has increased higher in the country. And the burial memorial is coming up December 10th 2024 to make it 4 years and we have contributed #1,500,000 to finance the burial and they appointed me to hold the money till December 1st before the family will begin to use the money for the burial, and the money will be send to my account this month end. And I like BTC investment, I feel like investing the money in BTC since it will take like 9 months before they will demand for the money for the burial and, it look like my opportunity has come. Is it an opportunity for me to blow? Or my opportunity has not yet come? What is your advice to me on this.
This is a very serious temptation my dear. The recent momentum in Bitcoin is pointing to the fact that the next bull run will be massive and if you take this chance, that might earn you more than $2k if everything goes right.
But if you ask me, I will say you should follow my first rule of investment... never invest what you cannot afford to loose because nothing is guaranteed. Even though we are optimistic that next year will be great for Bitcoin, we are not sure how things will pan out. The bull run can linger until 2025 thereby putting you at the risk of damaging your reputation. So, I will advise you to weigh the advantages and disadvantages.
Unless perhaps you are credit worthy in the sense that you can source for the funds by the time it is needed should anything go south. Else, I will advise you to apply DCA to build your Bitcoin portfolio.