I think your friend should first think about his investment goals and further educate themselves about the crypto market.
The decision should be solely his and he must take full responsibility.
Otherwise, you could lose a friend, because he could accuse you of a bad financial decision.
Everyone should be fully aware of the risks before investing in a crypto market.
I'm here for the long term and I'm not burdened by daily price changes, ups and downs, but many people enter the crypo market with the goal of making big profits as soon as possible which is not realistic.
Topic: Someone asked me he got $500 to invest in btc, is it the right time to enter? (Read 343 times)
March 01, 2021, 03:37:14 AM
March 01, 2021, 01:08:26 AM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
I am curious about what you say to your friend related to the crypto market now.What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
At this moment, he can use his $500 to invest in bitcoin, but I would not say that is the best time to buy bitcoin because bitcoin price can go down to the low price.
If your friend can accept the risk of buying bitcoin now, he can directly buy bitcoin, even if he wants to buy bitcoin at any price he wants.
Maybe you can ask him about his reason to invest in bitcoin because that will be related to the answer you can give to him.
If he wants to use bitcoin as an investment, he can buy and hold it for a long time and stay calm with the bitcoin price volatility.
February 28, 2021, 09:27:56 PM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
When discussing when and where to invest it should be on the investor's decision, you just educate him the in and out of investing , the risk and the rewards that come on it, you don't want to get the blame for giving him the price range and circumstances that turns out to be false, let him decide it's his money and he should be responsible for it if he is a serious investor, he will try to learn the in and out of investing and decide on his own.
February 28, 2021, 05:11:34 PM
The best thing to do is to conduct his own research to gain knowledge about crypto and to know the best time to engage himself. We cant certainly know the right timing to buy since the market is unpredictable, it can move upward or downward unexpectedly. It also depends on for how long he can bear waiting, if he plan to hold for long period then I think even a little correction is enough to buy.
Thus its a must to only use a spare money, so regardless of the outcome of your investment you can accept it without a hard feelings.
Thus its a must to only use a spare money, so regardless of the outcome of your investment you can accept it without a hard feelings.
February 28, 2021, 12:47:00 PM
I think now is the best time, compared to earlier this month or even last month. I just read a post a post a while back about how btc dumps in months of march and seeing what btc is doing in the market of recent somehow confirms that. Its advisable to wait for the dump should this prediction or analysis happens to be true but with the mindset that, it could also go the other way, the bull way so, its best you buy when you can at the moment and be ready to hold for a long time for a bull move to make the most out of it.
February 28, 2021, 08:33:02 AM
its about timing and a bit of luck, also if he is a short or long term investor, 500 usd is a bit small for btc , I suggest invest on some coins with a small value but with high chances, to grow in the future, he should not invest, in btc because its the talk of the town, he should make research and ask other investors when it comes to crypto currency.
February 28, 2021, 07:04:54 AM
What I understand about bitcoin is that, buying again an again when ever you have fiat money gives you more income and good investment. The time to buy bitcoin is always now as others had said but tell your friend to buy now, and again if he/she has another money he should keep on buying bitcoin again and again and again. I don't care how long bitcoin would take before reaching another ATH but as long as you keep on adding more fractions to your bitcoin, it's a great piece of advise.
February 28, 2021, 04:31:16 AM
...Think of a situation that bitcoin is worth 150,000$ by the end of 2021 so does it matter if you bought it at 47,000$ or 35,000$ ?
That 'situation' is very much possible, but the thing is how many newcomers will still be in the network by then if that price is to be achieved, they would prolly have sold out of panic when there's one or two price corrections. I think that's why many people, mostly newbies miss out on high BTC prices and good ROI. There are quite a multitude of things to learn before accumulating BTC, it's historical price movements is definitely one of it, if you understand something on it, price corrections wouldn't make you fret or panic sale, the necessary security protocols and the axiom of 'investing only what you can afford to lose' is a must to know, all this and many more comes first before investing and is a prerequisite to benefit from the network in the long run. February 28, 2021, 03:36:43 AM
Now that the Bitcoin craze has abated, it's important to understand that there are several major camps when it comes to investing in Bitcoin and the digital currency it operates.
The first camp says that Bitcoin is an investment.
You can invest in it, you can store it, and you can use it to buy and sell goods and services.
The second camp believes Bitcoin is not an investment, but rather, a speculative investment.
An investor can speculate on a currency, but it's not an investment in the traditional sense of the word and in the sense that they will expect a long-term return on their investment.
The third camp sees Bitcoin as a currency. These folks use Bitcoin as the medium of exchange in their day to day life, which gives them an opportunity to also speculate on the value of the currency itself.
For everyone, it's about perception, and with the cryptocurrency now being used as a form of investment for institutional investors, there has never been a better time to get involved. But I agree with Lucius and others who stressed the importance of education and DYOR (Do Your Own Research).
The first camp says that Bitcoin is an investment.
You can invest in it, you can store it, and you can use it to buy and sell goods and services.
The second camp believes Bitcoin is not an investment, but rather, a speculative investment.
An investor can speculate on a currency, but it's not an investment in the traditional sense of the word and in the sense that they will expect a long-term return on their investment.
The third camp sees Bitcoin as a currency. These folks use Bitcoin as the medium of exchange in their day to day life, which gives them an opportunity to also speculate on the value of the currency itself.
For everyone, it's about perception, and with the cryptocurrency now being used as a form of investment for institutional investors, there has never been a better time to get involved. But I agree with Lucius and others who stressed the importance of education and DYOR (Do Your Own Research).
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February 27, 2021, 03:02:49 PM
As many has said here already that nobody know the exact time or how much btc will dump exactly. I am also agreed with them in this case.
Just share him the bitcoin history of 2017. When it touch 20k and gone to 3k slowly. But now it is 60k touched. That means the most chance btc will cross again 60k from this position. But need some patience to do wait.
If your friend is agree to wait like this, then no problem if he buy btc this point.
Just share him the bitcoin history of 2017. When it touch 20k and gone to 3k slowly. But now it is 60k touched. That means the most chance btc will cross again 60k from this position. But need some patience to do wait.
If your friend is agree to wait like this, then no problem if he buy btc this point.
February 27, 2021, 12:18:55 PM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
It's actually a good time to invest in bitcoin whatever time it is because the bitcoin investment is more like a long term investment
The market right now trying to recover from the dump but still it still a good time, we could just base on the recent ATH in the market and calculate the percentage of DUMP.
from that, we know the price soon is going to pass the recent ATH especially in bitcoin, So for me just start to invest in bitcoin its always a good thing to invest just remember do not panic sell.
February 27, 2021, 11:45:29 AM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
If he want to act quickly (to invest on bitcoin asap), IMO, probably it's fine to invest on the current market if he will be willing to hold it for a long time. We know that bitcoin reached new heights this year, probably the thinking that it could go much higher is stilll strong. But you must remind him that bitcoin market is very volatile and his knowledge to what he will be investing is important. There are lots of things to be considered including his emotions. Nonetheless, probably the best could be at $40k, if bitcoin will ever go back to that range. What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
February 27, 2021, 11:36:07 AM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
Bitcoin has not reached all time high for this cycle so if you buy at this moment, you should be sure that you would not be buying at the top. Secondly, if you wait few months, who knows the bitcoin price may be above 50K or more at that time. As we are in bull market, i don't accept bitcoin to remain bearish for long time.
February 27, 2021, 11:33:21 AM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
Can he invest 500$ for long term in bitcoin ? If so, then this is the right time to buy bitcoin and keep it save for few years. If you think that bitcoin price will be down in next two months and then he will buy then it does not matter much. Think of a situation that bitcoin is worth 150,000$ by the end of 2021 so does it matter if you bought it at 47,000$ or 35,000$ ?
February 27, 2021, 11:20:09 AM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money.
If someone is absolutely new and has no idea what Bitcoin is, the worst thing they can do is start investing. Anyone who is not educated and prepared will sooner or later make a mistake, whether it is a panic sale that will result in a loss, or will become a victim of hacking/online fraud.
A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
In that case, you should have learned something - and that is to invest in the bear market - and not when we are more than in the obvious bull run. If by any chance history repeats itself, then 2022 could be the year when a significant correction will take place - although this should not be taken for granted.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
In general, it's a question you shouldn't expect any concrete answer to, simply because no one can predict the future. If we look at the trend that has existed since the beginning of the year, it is generally positive, and we see it in the price increase from $30 000 (beginning of the year) to $58 000, which is a fantastic growth. I have written somewhere before that an average price increase of only $6000 per month would result in a price of $100 000 by the end of the year, and I hope that will be the case.
In that case, the best time to invest is right now or for those who are still waiting for entry at a significantly lower price, maybe only next year.
February 27, 2021, 10:51:59 AM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
Not quite sure what would be the best price range but as much as possible buy the cheapest price, but in this current market you cannot find any cheap price so instead I think buying at the correction would be much better. However, if your friend is aiming for long-term investment then I'd say you can enter the market whenever time you want. Just keep stacking up your Bitcoin because there will be a time that it will grow even more than you can ever imagine. Btw, much better if he will learn how Bitcoin investment works cause' it would be a lot of risk exposure. What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
February 27, 2021, 03:31:39 AM
You haven't quoted me but I understand this is a reply to my post. Yes, I am categorical because I've seen it many times: people wanting to get a quick buck by investing either in the stock or the crypto market. Of course, we don't know all the details, we don't even know if the OP has made up the story, but what a reasonable person who wants to invest does is read a lot, inform himself a lot and if he does that, then questions may arise but more complicated than the one posed by the OP.
I agree. For the first step, you need to move. Anyone who writes that the price is still high, in the end, may not wait for the desired price, and time will pass. $500 is enough for the first step. This will provide an opportunity to motivate yourself for further study. If you have good friends, and they are trusted, you can get answers to questions from them at first, and then go to the Internet.
The most important thing is the desire to understand, and the rest works wonders.
February 27, 2021, 02:29:56 AM
Right now if someone is absolutely new and have never ever invested in BTC, in my opinion he should wait for a couple of months before putting in some money. A friend asked me if he should invest his $500, he is a no tech guy, and just consuming the news, like it was at the beginning of 2018 where a lot of people have bought the highs.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
What could possibly be the best time range or price range in 2021 for a person who is willing to invest in btc during 2021, just for a general idea.
My suggestion will be to buy bitcoin with some money weekly or monthly, for example during in one year. He doesn't have to panic because his reason to buy bitcoin is because of the investment side.
But if he only wants to buy bitcoin with his $500 and not thinking about the bitcoin price movements, he can buy bitcoin at any prices because he wants to invest in bitcoin, which I think he wants to keep his bitcoin for a long time.
We don't know the best time range or price range in 2021 because bitcoin prices can move to any price. Even if you have skills to predict, that can't always happen as bitcoin can get impact from many positive and negative news.
February 26, 2021, 11:50:38 PM
The price of the bitcoin is still high so it would be risky for him to buy some, maybe you need to introduce first to him how risky to invest in bitcoin, and ask him what is his expected profit before pulling out his money from the investment. It is really hard to help your friend in investing in bitcoin if he has zero knowledge about it, so start introducing to him about bitcoin or introduce him as well to this forum to learn more about cryptocurrency.
February 26, 2021, 11:44:17 PM
You are too categorical. Perhaps a person is just starting his way to bitcoin. We all understand and believe in bitcoin. Why not tell this guy to do the same? Just believe. Any investment in bitcoin will always be successful. Train your patience. Teach your friend to invest regularly what is not a shame to part with. Any investment in long-term storage has not brought regrets to any person who believes in Bitcoin.
You haven't quoted me but I understand this is a reply to my post. Yes, I am categorical because I've seen it many times: people wanting to get a quick buck by investing either in the stock or the crypto market. Of course, we don't know all the details, we don't even know if the OP has made up the story, but what a reasonable person who wants to invest does is read a lot, inform himself a lot and if he does that, then questions may arise but more complicated than the one posed by the OP.
I would say that the OP has even misused the verb. His friend is not thinking of investing, for if he were, the best time would be now. For someone who has studied bitcoin, who has convinced himself that it has a promising future, it is not even worth doing DCA, which @orions.belt19 has exposed earlier. DCA is just to psychologically withstand short term swings. But if you are going to invest in an asset with promising future, the best time to invest is now, ASAP. And if you add investment in the future, it is not so much to average the purchase price but because you consider that the initial investment is not enough.
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