Serious question about Bitcoin. Is it a reliable and stable investment? - page 7.

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Quote from: isamu on July 08, 2019, 03:46:42 AM

Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?

Any price us possible, and logically yes it can go below $3500, but in the long term I predict an upward rise.
When buying I'd advise you apply trading skills, and buy at different levels, it's best to get it for as low as is possible, and this could be done installmentally, rather than a one off purchase.

For stability and reliability, to an extent, it is reliable. Volatility is high, so it's not stable as yet. It has it's risks and potentials.
I would not suggest a drop off for 5 or 10 years. Rather they could get involved in the community and make their decisions as they learn more about it.

Tahsin Kabir Kollol

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I think that Bitcoin investment is a reliable but not stable investment. Bitcoin investment is reliable because bitcoin is a popular and trusted cryptocurrency. Bitcoin is a modern technology for the transaction and it is the future currency. Because of its price increasing or decreasing, It is not a stable investment. Traders want bitcoin price volatility to earn the profit. So Invest in bitcoin, You need proper knowledge about cryptocurrency. If you have proper knowledge about bitcoin then it is a reliable investment for you.

monalia

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Quote from: jakelyson on July 08, 2019, 01:39:02 PM

Quote from: isamu on July 08, 2019, 11:47:52 AM

I think it would be wiser to, per avikz's suggestion....invest the funds into a Portfolio Management Service. I'll have them look into that direction instead. Meanwhile I'll continue to HODL my 0.5 BTC and hope for the best

Considering that bitcoin is a high-risk investment and that they have no clue what they are doing investment-wise, it is better for them to hire a professional financial advisor. I am sure the advisor can give them better guidance in regards to risk management and choosing the right portfolio for long and short term investments.

If you do your own analysis you can personally take the decision on your own investment
You never need to hire any advisor for crypto investment. There are plenty of scammers in this forum as well as outside their to scam you so don't be the victim on hiring someone.
Hope you can understand what I am saying.

jakelyson

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Quote from: isamu on July 08, 2019, 11:47:52 AM

I think it would be wiser to, per avikz's suggestion....invest the funds into a Portfolio Management Service. I'll have them look into that direction instead. Meanwhile I'll continue to HODL my 0.5 BTC and hope for the best

Considering that bitcoin is a high-risk investment and that they have no clue what they are doing investment-wise, it is better for them to hire a professional financial advisor. I am sure the advisor can give them better guidance in regards to risk management and choosing the right portfolio for long and short term investments.

audaciousbeing

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My answer to the question would be yes to the Reliable and No to the stable part because according to the definition of stability, bitcoin price is far from that to the extent that stability in bitcoin or crypto generally is used as a range for example ''price has been stable above $5000 in the past couple of months'' this statement is just an expression and does not have anything to do with stability. Reliability on the other-hand is a positive attribute which to me bitcoin has not fail from the beginning and I am yet to see any investment that is not physical in nature do much that it has done in terms of returns.

isamu

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Much appreciate the replies guys. Will certainly take all your suggestions into consideration. I myself own a small amount (about half a coin) and am quite comfortable with my investment. But like you guys said, it is risky. Upon further thought, I'd say at the moment I don't think it would be a good idea to suggest to them to invest in it, despite my personal beliefs that BTC will rise in value over the long term. 100K is a lot of money and like one poster stated, I don't think I could handle the burden of having their savings wiped out should BTC collapse for some unknown reason.

I think it would be wiser to, per avikz's suggestion....invest the funds into a Portfolio Management Service. I'll have them look into that direction instead. Meanwhile I'll continue to HODL my 0.5 BTC and hope for the best

0zero0

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This looks like your friend's parents are putting in their life savings in it. If that's the case then I would strongly recommend them not to invest in BTC.
We all know how volatile bitcoin is and if we are putting our money in it then we should be very patient and completely forget about it for the next couple of years.
Even after that there is no guarantee that bitcoin will return huge profits. The probability for a profit and loss is 50 - 50.
So if they want then they can invest a minimum amount in BTC while investing the rest in more secure investments.

rdluffy

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I don´t like the idea of convince someone to enter on cryptos, I suggest you to only tell him about BTC and show the infos about, it's better if him study the market first to be confortable to invest money on cryptos (BTC in this case)

You know BTC can worth 100k in the future, but could go to 1 USD to, if any person says BTC will rise in price 100% for sure, it's a lie, there are risks, so study and research first and if the person agree with, explain to him about how to invest, when, where, which wallet etc

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Quote from: stadus on July 08, 2019, 09:27:49 AM

It's hard to tell but suggest you let them study the market first and they should understand that bitcoin is considered as a high risk investment.

I doubt you could convince a parent how to study the markets. I think OP's friend's parents are only looking for an asset to park their funds to hopefully gain profit.

To all the people replying talking to OP concerning trading, read the post again. This is not for OP. OP is asking in behalf of his friend's parents.

Dapper

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Not stable or reliable at present. It's an ideal investment opportunity (and much less so than 7-8 years ago) if you have no or low debt, have your home paid off, have other investments and other passive income. It's not good idea if you don't have other non-crypto investments.

Linkkoin

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Is it reliable - I would say yes. If you know when to buy it of course. So far all since 2010 it is rising. Even last bottom was more than 13x as much as a previous bottom. But estimating how much would it cost in the next 10-15 years it is all just wishful thinking.

Stable - as an investment (so far) BTC has not really much to offer as speaking of stability. This makes it a great tool for daily traders (who can make money on many lows and highs even in matter of doays if not hours), as well as people who buy at bottom and wait patiently to sell at all time highs (this approach had proven to work so far with each single cycle).

If you decide to trade on a daily basis - then remember that panic and greed are not your friends.

keziakusayang

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for the long term I think bitcoin has a big risk because the price is unstable. we all here no one can predict the price of bitcoin in the next few years right. Look at the last 2 years, the price of bitcoin has dropped dramatically and suddenly soared dramatically.
I think if you are ready to risk between loss and profit you can invest in bitcoin.

lienfaye

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For me yes its a profitable investment especially for long term hodling but because bitcoin is volatile, price fluctuation is inevitable so we can expect the price to turns up and down and can get even lower at $3k if the market is in bear season.

Every investment has risk and cant 100% guarantee of good return however bitcoin through the years gave us a progress that despite of the price declining it can bounce back, really unpredicted.

Its better for your friend's parents to understand first how crypto works because its a roller coaster ride kind of investment.

stadus

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It's hard to tell but suggest you let them study the market first and they should understand that bitcoin is considered as a high risk investment.

If you will ask me, I believe the future of bitcoin is good and in 5 to 10 years of holding, its expected that the value will rise since adoption would certainly increase due to the entrance of institutional money.

Lucius

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It's very difficult to give a correct advice in such case, and I would avoid to put a bug in ear of someone who want to invest such amount of money. Bitcoin is very risky investment, but if we look at history (past 10 years), it is a very profitable investment. It is impossible to say what will be in 5-10 years, so any investment in bitcoin is a big risk, not only because of price, but also for security reasons.

Quote from: isamu on July 08, 2019, 03:46:42 AM

Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?

Below $10k is possible, considering that after every ATH we see big correction up to 90% - so only safe play would be to invest now, set some target for sell and take profit at that point. After that wait for bottom again, and repeat the whole process. Holding for 5+ years might be stressful in times when price is going down, one day your bitcoin is almost $20k, and few months later it is only $10k.

AG3NT0R4NG3

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Quote from: isamu on July 08, 2019, 03:46:42 AM

Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?

Please give me your thoughts. IRA or Bitcoin for the long term?

Can you imagine them buying now at 12K and next year it goes down to 3K? If you want to gamble with this volatile, unregulated and manipulated market you should invest only 1-2% out of your 100K account at this moment. The game is not buy high and sell low. Remember this.
Even at 3.5k it looked bearish and everyone was thinking that prices bellow 1K were quite possible. Just don't invest more than you can afford to lose. Buying a relative small amount will help you sleep better at night and won't make you feel you missed the pumps or won't make you lose your sleep.

Ridwan Fauzi

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The price movement of bitcoin is not stable you have to know it, for those people who know bitcoin and his knowledge to bitcoin they will answer yes bitcoin is promising place for an investment. But I doubt if there is someone who try to invest in bitcoin but he didn't know bitcoin at all, it will be risky for him. The volatile price is the main problem for him, he could sell in lose situation due to its price continue to fall such as last year.

However, if you are an investor and wonted to choose long term investment might be bitcoin can be considered as your investment place. You have to know at least for ten years bitcoin has been grow up in price drastically. From $1 in 2009 and now $11.000 (even $20.000 in 2017 ago) in 2019 is an extraordinary achievement. And I have confident for five years a head even ten years a head bitcoin will past $20.000 as an ATH.

Haunebu

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Quote from: Indamuck on July 08, 2019, 09:04:36 AM

As much as I like bitcoin I would never recommend someone to put their retirement money into btc. Bitcoin is very young compared to traditional investments like stocks and bonds. It could crash to nothing in the future, if they already have a good amount of money there is no need to get greedy and risk it.

Crash to nothing? You make it sound like it is some kind of ponzi which will crash and burn inevitably. Completely disagree with you here. I do agree that converting retirement funds into BTC is very risky, but it is still a viable option.

The risk here is that their investment might lose value over time and not completely disappear due to the volatility of this market. However, I don't think this will happen and I feel they should invest only what they are willing to lose and sell once BTC meets their target price in the future.

Indamuck

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As much as I like bitcoin I would never recommend someone to put their retirement money into btc. Bitcoin is very young compared to traditional investments like stocks and bonds. It could crash to nothing in the future, if they already have a good amount of money there is no need to get greedy and risk it.

Erickan

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Investment is a potential area of many risks, especially investment in bitcoin. No one can tell where the bitcoin will go in the next five to ten years, it could be $ 100k or maybe $ 0. So I think it's not a good idea to invest in bitcoin with a huge amount of money, invest a sufficient amount of money, your excess money and make sure you can take the risk with that money.

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