So far so good with Bitcoin adoption on my side but I have question - page 4.

BenCodie

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6.25 ---> 3.125

Quote from: davis196 on January 30, 2023, 02:48:37 AM

Do not give financial advise to other people, because they will put the blame on you, when they lose money.
It's great that you are spreading the word about Bitcoin. Good Job, OP. If I was on your place, I would just explain the basic principles and the core concept of Bitcoin and blockchain technology. I wouldn't tell the noobs when to buy and when to sell. Nobody can predict the market, even the best crypto traders are failing sometimes. Knowing Bitcoin is one thing, learning and practicing crypto trading is a different thing.
By the way, I don't think that the main reason for the small price growth from 16K to 23K is the Chinese New Year. Wasn't Bitcoin banned in China?

The best advice you can give is that Bitcoin is an investment that is most successful with a target of 4 years. It is economically designed this way. No one has ever failed when hodl'ing for more than 4 years, the charts prove it!

Quote from: davis196 on January 30, 2023, 02:48:37 AM

Wasn't Bitcoin banned in China?

According to this article, Bitcoin has been banned by China on 3 occasions. I remember reading another article around the time of the last China ban that the count was in excess of 7 occasions. Yet, many Chinese exchanges and services still operate today. So this tells you how effective these so-called bans really are.

Bitcoin Cannot Be Banned!

kryptqnick

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I agree with others that giving financial advice is undesirable, as people must learn to make their own choices and do their own research, as well as realize that whether they win or lose it's solely their own responsibility. If you got yours at $15-17k, you could just honestly tell them that. But nobody knows whether Bitcoin will fall again, and IMO the price is still good as long as a person believes in full recovery of the process and is willing to wait for it.

Outhue

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Quote from: davis196 on January 30, 2023, 02:48:37 AM

Do not give financial advise to other people, because they will put the blame on you, when they lose money.
It's great that you are spreading the word about Bitcoin. Good Job, OP. If I was on your place, I would just explain the basic principles and the core concept of Bitcoin and blockchain technology. I wouldn't tell the noobs when to buy and when to sell. Nobody can predict the market, even the best crypto traders are failing sometimes. Knowing Bitcoin is one thing, learning and practicing crypto trading is a different thing.
By the way, I don't think that the main reason for the small price growth from 16K to 23K is the Chinese New Year. Wasn't Bitcoin banned in China?

Giving people financial advise is what I hate the most, trust me, I have been there and I've seem how ugly things could get, the hate you can easily get when things go wrong, but the people that invested base on my advice are those that already understand the risk involved, they are on their own if anything happens.

Buying low is the key, that's all I give them as advice, follow by, invest with little amount that won't hurt even if it failed to go your way

EarnOnVictor

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You are not wrong, your scepticism is right, and you are being reasonable and keeping them safe. If they invest immediately, they might lose interest easily when the price of the coin is falling, so investing at a time when it has just started a pump would be a very good idea. One would have had a better assurance of the bullish trend if it were at the time that it reached the low of about $15,500 last year. At the price, BTC would always recover, and even if they lose, it will soon recover, unlike this time when it almost hit $24,000.

Conclusively, be their guide through chart analysis to know the right time to invest and divest.

franky1

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in 2021 the non zero bottom value was $10k
the premium in 2021 was $75k
the market swung inside this window by movements between $25-70k
|||||||||||||||
   ^ ^
in 2022 the non zero bottom value was $15k
the premium in 2022 was $95k
the market swung inside this by movements between $16-50k
||||||||||||||||||||
  ^ ^

and in 2023 the current value premium possible window. and bitcoins current price
   v
||||||||||||||||||||

its still very much in the green and close to the (black) non zero bottom value
its not as if you are advising they buy in the amber/red zone

pooya87

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You shouldn't really try to find reasons for each and every rise and fall. Also what people say on the internet is always all kinds of crazy. They once say new years lead to people dumping bitcoin because they need money for presents and travels, etc. and another time they say it goes up because of new year.

I'm also with @davis196 on this, you shouldn't give financial advice to others so that they can blame you when they lose money specially in a very volatile market. You also shouldn't introduce Bitcoin to others as an investment (which is two birds with one stone), since bitcoin is a currency and people who buy it should want financial sovereignty. Also that way when there is volatility they won't just panic then dump and blame you for the loss since they didn't buy bitcoin primarily to make profit.

davis196

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Merit: 906

Do not give financial advise to other people, because they will put the blame on you, when they lose money.
It's great that you are spreading the word about Bitcoin. Good Job, OP. If I was on your place, I would just explain the basic principles and the core concept of Bitcoin and blockchain technology. I wouldn't tell the noobs when to buy and when to sell. Nobody can predict the market, even the best crypto traders are failing sometimes. Knowing Bitcoin is one thing, learning and practicing crypto trading is a different thing.
By the way, I don't think that the main reason for the small price growth from 16K to 23K is the Chinese New Year. Wasn't Bitcoin banned in China?

Outhue

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Activity: 686

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I wish there is a way that I can show families on here how successful I have bring numbers of people into Bitcoin between 2021 - 2023, it's been so great and I am very happy about it, I have fresh newbies at hand right now, two of them are from the same university 🎓, I have spent 6 weeks with them teaching and answering questions about Bitcoin and wallets, now they decide to purchase their first set of Bitcoin.

Here is where I am confused, the present value of Bitcoin is growing, some said it's because of the Chinese New year Holiday aka Year of the Rabbit, since I got mine at 17,000 and 15,000 I feel it's wrong to tell these newbies to buy at 23,000$

Have I done the right thing by telling them to wait for some correction before buying or you famz have a better idea? Because right now I don't see anything thing better than to wait, double bottom is always possible with Bitcoin in bear markets.

Topic: So far so good with Bitcoin adoption on my side but I have question - page 4. (Read 409 times)