What would it be like owning a Bitcoin in 2024?

uneng

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Quote from: Biggeno on January 10, 2024, 12:00:21 PM

So what is your take about this, would you advise on owning Bitcoin in 2024 or do you see it as a total risk?

Owning Bitcoin is one of the best things you can do in 2024. The market, adopters and analysts in general are pretty confident and optimitisc Bitcoin will get more valuable between 2024 and 2025, mainly due to halving event which is probably going to take place in next April. Of course there are risks involved, because this is a high volatile investment, with huge upsides and downsides, although what I keep in mind if that Bitcoin has never disappointed us on long run, taking its history into consideration since the beginning, so I feel secure to advise people to purchase as much as they can right now.

Although the risks are real, in my opinion they totally worth the potential rewards you can get from it. It's not a dumb risk like investing in altcoins, ponzi schemes or doing illegal stuff which will put your physical integrity in risk for money... Bitcoin is something else, so don't waste the opportunity you have in your hands to join the train of next bull season. Personally, I'm expecting at least 50% profitability over investments being made at this moment, and I suppose it's a conservative prediction yet.

southerngentuk

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It's true, many people approach crypto with the "get rich quick" mentality, only to be disappointed by the market's unpredictable nature. And you're absolutely spot-on – Bitcoin is not for everyone. It's a volatile asset with inherent risks, better suited for those with a long-term perspective and a high tolerance for uncertainty.

However, I wouldn't dismiss the genuine curiosity and enthusiasm driving people towards Bitcoin. While some questions might seem funny on the surface, they often reflect a desire to understand this complex and evolving technology. It's important to remember that everyone starts somewhere, and even the simplest questions can pave the way for deeper learning and engagement.

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Quote from: Essential10 on January 20, 2024, 03:21:52 PM

Quote from: Biggeno on January 10, 2024, 12:00:21 PM

So what is your take about this, would you advise on owning Bitcoin in 2024 or do you see it as a total risk?

If you have good amount of money then you can start investing. I believe Bitcoin is the most secure coin in the crypto world. No 100% guarantee is possible in any investment. I don't see 2024 as a risk, Bitcoin ETF are approved and Bitcoin is getting close to halving in 2024. Bitcoin is coming to a bit of correction, little bit of correction has been done. If you want you can wait some more time for the price to drop. Expect to enter this year-end Bitcoin bull market, buy and hold.

Before we should invest bitcoin we need to understand about the market then we need to invest. Bitcoin investment is very easy and what is safe. But you need to invest bitcoin right time then you can successfully earn profit. If you are impatient with bitcoin investment. If you sell the bitcoins, then you might be doing a big stupidity.

Essential10

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Quote from: Biggeno on January 10, 2024, 12:00:21 PM

So what is your take about this, would you advise on owning Bitcoin in 2024 or do you see it as a total risk?

If you have good amount of money then you can start investing. I believe Bitcoin is the most secure coin in the crypto world. No 100% guarantee is possible in any investment. I don't see 2024 as a risk, Bitcoin ETF are approved and Bitcoin is getting close to halving in 2024. Bitcoin is coming to a bit of correction, little bit of correction has been done. If you want you can wait some more time for the price to drop. Expect to enter this year-end Bitcoin bull market, buy and hold.

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Quote from: Biggeno on January 15, 2024, 12:44:26 PM

Quote from: shawonngp on January 15, 2024, 11:56:36 AM

-snip-

What if first, they did not in understand fully how the system works or they did not go through the market analysis properly, all these could be factors

In order for you to make a profit - you have to buy low and sell high, that's how simple it works. Even without analysis - you can buy bitcoin now and hold it for the long term, it will give you returns although it is true that there are no guarantees. Your money is your responsibility - so consider wisely how much you can afford to lose on this investment.

One factor in someone's failure in investing is – they never tried. You must be able to learn and increase your knowledge in order for increase your optimism about the good future of the assets you want to invest in. The current price of bitcoin maybe seems high to you - but this could be the lowest price in the next 2 years.

fullhdpixel

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Quote from: Kelvinid on January 17, 2024, 07:43:24 AM

Understanding the current situation of the market, we can say that it is growing. Those who accumulated Bitcoin last year have already gained huge profits but haven't said we're too late for this and take the chance while halving is just coming because we are expecting a skyrocket after. Having the fact that investing in Bitcoin is a good choice and not a losing investment. Buy now, hold, and wait for the ATH --that really sounds crazy but it is possible as long as we have faith and are able to wait for the right time to sell.

It wasn't even all that confusing neither, anyone who has seen any cycle before would have known this is exactly what's going to happen, and they have already made some profit, me included. I mean when it was in the bear market after that big bull market, I knew that there would be a time to make some money, it takes a whole year, but it happens.

When we went up at 2021, I knew that 2022 would be bear, didn't know the bear would start at 2021 to be fair, but knew 2022 would be bad year, and when 2022 was bad, I knew that 2023 would be a bit better, not a ton, but it would go higher, and in 2024 it will keep going higher a bit, and in 2025 we will have a huge bull run, these are all obvious stuff and doesn't really surprise anyone who has been here for few years.

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Quote from: Vaskiy on January 15, 2024, 06:15:17 PM

This is the fact. Bitcoin serves as hedge against the paper money that have been losing value due to inflation. Prioritising bitcoin investment will help people to be on the safe side. However while holding bitcoin we should also have fiat currency, because bitcoin too is volatile by nature and when we're in need if the market is bearish we'll experience loss. Accumulating as much possible is good, and the same needs to be done at the right time. Considering the halving it is right time to invest.

It cannot be said to be a hedge because Bitcoin has rapid price fluctuations. this will be risky for those who don't know how bitcoin works and if they panic too much they will sell at a loss. having a lot of Bitcoin now will provide benefits because it will be approaching the Halving which can produce a lot of profits when it reaches ATH, and now is indeed the right time to invest and hold it.

Natalim

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Quote from: Biggeno on January 10, 2024, 12:00:21 PM

Although I have not yet owned Bitcoin, I understand that investing in Bitcoin is a great idea but as like others, it is not a 100% guarantee. And if owned should be stored in a non custodian wallet for safety, I would love to begin my Bitcoin journey and appreciate lots of ideas and advice from this family.

So what is your take about this, would you advise on owning Bitcoin in 2024 or do you see it as a total risk?

You already have understood that Bitcoin is a great idea yet you are still asking. You are still in doubt as per see.
If you still have it in your mind, you will end up missing the chance. If I were you, grab your bag and fill it before the halving, or else, you will be in regret it. Don't be like those people who just buy Bitcoin when the pumps have started but rather accumulate them before the surge. Just look at the price history of Bitcoin, I believe that would help you to encourage and eliminate your doubts. But if you still carry such feelings, I suggest forgetting about crypto as it certainly never works.

panganib999

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Depends on where you live. If you live in America and every other First-world country a bitcoin wouldn't be that much since having that much money also comes with the expensive items that you'd have to pay for. On the other hand, Third-world country-citizen will see the most benefit with owning a single bitcoin. In the Philippines alone, you pretty much could buy a whole house and lot package with the 45k that you're getting from bitcoin alone, and this is expected to persist at least for a couple of years cause houses in the Philippines are cheaper.

Ideally I'd say you're set in the crypto industry as long as you have a bitcoin in holdings, I've seen some of my friends start off with as nothing back then and still earn 4x bitcoin's amount so what more would it be if you could get that much this early yeah?

yazher

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Quote from: Franctoshi on January 15, 2024, 01:40:02 PM

Owing some amount of Bitcoin right now is not only about the profit making but also a hedge against inflation, if you check, many countries fiat currency is tanking at the moment due to the rising inflation while Bitcoin has been in increasing in price lately, Therefore, it another considerable benefit for every individual or institutional investor in space right now, don't look at how high the price is before one starts to buying, Bitcoin would even double or triple in value in the coming months and years as institutional adoption is skyrocketing lately.

Investors should know their limits of course because they cannot just simply mimic what others have done because we have different ways of how we deal with our personal budget in life. sometimes others are fine investing large amounts of money because they can handle the loss and others are always in the moderate no matter what happens with the investment of others. I usually always take the middle path even in this year because that's when I feel my heart at ease and I don't have to worry about risk because I can just simply get it back from my sources.

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Quote from: Vaskiy on January 15, 2024, 06:15:17 PM

Quote from: Franctoshi on January 15, 2024, 01:40:02 PM

Owing some amount of Bitcoin right now is not only about the profit making but also a hedge against inflation, if you check, many countries fiat currency is tanking at the moment due to the rising inflation while Bitcoin has been in increasing in price lately, Therefore, it another considerable benefit for every individual or institutional investor in space right now, don't look at how high the price is before one starts to buying, Bitcoin would even double or triple in value in the coming months and years as institutional adoption is skyrocketing lately.

This is the fact. Bitcoin serves as hedge against the paper money that have been losing value due to inflation. Prioritising bitcoin investment will help people to be on the safe side. However while holding bitcoin we should also have fiat currency, because bitcoin too is volatile by nature and when we're in need if the market is bearish we'll experience loss. Accumulating as much possible is good, and the same needs to be done at the right time. Considering the halving it is right time to invest.

Understanding the current situation of the market, we can say that it is growing. Those who accumulated Bitcoin last year have already gained huge profits but haven't said we're too late for this and take the chance while halving is just coming because we are expecting a skyrocket after. Having the fact that investing in Bitcoin is a good choice and not a losing investment. Buy now, hold, and wait for the ATH --that really sounds crazy but it is possible as long as we have faith and are able to wait for the right time to sell.

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Quote from: cryptodude on January 15, 2024, 10:11:01 AM

However, no investor is completely safe when it comes to business. There will be risks in business. It is eternal truth. In the crypto currency world I think bitcoin is much safer to invest in than alt coins. At any time you can lose your invested money if investing in the wrong altcoin. Moreover, you can buy Bitcoin little by little without investing at once, it makes it easy to understand the market conditions.

Their is nothing to argue or compare bitcoin with altcoins, the evidence is their to see that bitcoin is more reliable and safe to invest. The only thing that will make one to consider altcoins for investment over bitcoin is greed and ignorance. Greed will make you feel that it is only in altcoins you can get quick profits to become rich quick, while ignorance will make one feel investing in altcoins over bitcoin is the right step to take, expecially seeing the price of altcoins very low.

Because of the price of altcoins being low some people prefer to invest in it but this is a wrong step because many of the altcoins have no good market value and with this money invested in this shit altcoins can lose at anytime. Bitcoin is the most reliable for investment, the price of bitcoin shouldn't be a limitation for not investing In Bitcoin.

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Quote from: Biggeno on January 10, 2024, 12:00:21 PM

True Bitcoin has had a massive turn since 2013 and was one of the year with benefits for Bitcoin investors or holders it started with $13.3 in 2013 and by October crossed over $200 unlike 2012 which was not too outstanding.

Today bitcoin is about $45,474 per dollar and many cryptocurrencies are now been generated to compete greatly with Bitcoin, leaving the fact that it is the most known cryptocurrency most individuals are still been illiterate about it.

Although I have not yet owned Bitcoin, I understand that investing in Bitcoin is a great idea but as like others, it is not a 100% guarantee. And if owned should be stored in a non custodian wallet for safety, I would love to begin my Bitcoin journey and appreciate lots of ideas and advice from this family.

So what is your take about this, would you advise on owning Bitcoin in 2024 or do you see it as a total risk?

Although owning bitcoin carries a lot of risk, I will encourage anyone to hold it because everyone who does so is benefiting from it. Many people are afraid that investing in bitcoin carries a lot of risk, but I haven't seen anyone who has invested for a long time complain that they lost their money. If it's possible, I will try to educate those who lack on what bitcoin is all about and encourage them to buy and hold so they can also benefit from it. We cannot look at the risks associated with bitcoin that we shouldn't hold it, so the best thing is that we should understand it before we invest our money in it.

Quote from: shawonngp on January 15, 2024, 11:56:36 AM

Right, I have bad experienced for recommend to invest in Bitcoin, okay let share it, I told some of my friends to invest in cryptocurrency they put big amount in altcoins & Bitcoin, When they suffered losses then they blamed me it's a scam because they faced losses. So if now someone asked to invest in Bitcoin then i suggested to them DYOR.

Don't you think that before making their investment, they lacked enough knowledge about it? You tell them to put their money into bitcoin, but you could have helped them through with the process. I don't think they knew much about bitcoin before you told them to invest in it, so if you had guided them, they shouldn't have put their money into altcoins because some of them are like gambling you could lose everything immediately.

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Quote from: Franctoshi on January 15, 2024, 01:40:02 PM

Owing some amount of Bitcoin right now is not only about the profit making but also a hedge against inflation, if you check, many countries fiat currency is tanking at the moment due to the rising inflation while Bitcoin has been in increasing in price lately, Therefore, it another considerable benefit for every individual or institutional investor in space right now, don't look at how high the price is before one starts to buying, Bitcoin would even double or triple in value in the coming months and years as institutional adoption is skyrocketing lately.

This is the fact. Bitcoin serves as hedge against the paper money that have been losing value due to inflation. Prioritising bitcoin investment will help people to be on the safe side. However while holding bitcoin we should also have fiat currency, because bitcoin too is volatile by nature and when we're in need if the market is bearish we'll experience loss. Accumulating as much possible is good, and the same needs to be done at the right time. Considering the halving it is right time to invest.

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Quote from: Franctoshi on January 15, 2024, 01:40:02 PM

Owing some amount of Bitcoin right now is not only about the profit making but also a hedge against inflation, if you check, many countries fiat currency is tanking at the moment due to the rising inflation while Bitcoin has been in increasing in price lately, Therefore, it another considerable benefit for every individual or institutional investor in space right now, don't look at how high the price is before one starts to buying, Bitcoin would even double or triple in value in the coming months and years as institutional adoption is skyrocketing lately.

Nobody can predict the market of cryptocurrency perfectly now the price is increasing and also falling so many people never knew that the price may fall to this extent because what they have in mind is that the price will continue to accelerate since we have entered 2024 the price will continue to rise but they never knew that is not the way bitcoin rise sometimes it depreciate in value to correct the market and also increase so having bitcoin now in your storage it may be profitable in future and the also may not be profitable because nobody can predict the market accurately

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Quote from: Biggeno on January 15, 2024, 12:44:26 PM

Quote from: shawonngp on January 15, 2024, 11:56:36 AM

Right, I have bad experienced for recommend to invest in Bitcoin, okay let share it, I told some of my friends to invest in cryptocurrency they put big amount in altcoins & Bitcoin, When they suffered losses then they blamed me it's a scam because they faced losses. So if now someone asked to invest in Bitcoin then i suggested to them DYOR.

What if first, they did not in understand fully how the system works or they did not go through the market analysis properly, all these could be factors

Obvious his friends aren't knowledgeable enough for crypto investment or his friends are just expecting for an instant and easy profit from this industry. However, this is the downside of sharing something to people who are not interested into it in the first place; it would really seem that you just dragged them towards this industry. You could have not told them how to handle things. Always the misconception; since we saw many people who earned huge amount of money from crypto investments, some gamblers especially the new ones are also expecting for the same outcome on their end without considering how touch he gone into.We could now be on the bullrun again likewise with 2016-17 period, which means investing at this point would be a good idea but should be better not to talk about it at all. Accumulating now could give you a high chance to earn bigger profit once its market value starts to be in such 'run'.

Many investors as well are waiting for a hug movement on its market price 'coz there is still a chance for correction to suddenly take place and with that, you should have your own 'gameplan' before things start to roll.If you are into long term waiting then creating an entry now could aid your worries.

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Quote from: YOSHIE on January 15, 2024, 10:09:02 AM

Quote from: Biggeno on January 10, 2024, 12:00:21 PM

So what is your take about this, would you advise on owning Bitcoin in 2024 or do you see it as a total risk?

I don't see a significant spike in Bitcoin prices in early 2024, meaning my view is not too risky in the current second, we may still have promising opportunities for Bitcoin users, There is no guarantee that when we enter the middle of 2024, maybe it is very risky, because one of the halving phenomena will occur.

My feelings for now are still calm and improving, even though I have to buy now and invest now, I still believe the best opportunities will happen in the future, but we are still alert that anything could happen to Bitcoin without our knowledge, but I still feel comfortable doing something now, not comfortable for the middle of this year.

It's still best to buy bitcoin at the start of the year, most especially that bitcoin price has not gone so high because once bitcoin halving is here, we will see sudden price hike for bitcoin which means buying at that time will be more risky compared with the current market price.

However, if you resort into following DCA strategy, much better as it will lessen the risk from losing. You can do it monthly or bi monthly, depending on how often you make an income.

Franctoshi

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Owing some amount of Bitcoin right now is not only about the profit making but also a hedge against inflation, if you check, many countries fiat currency is tanking at the moment due to the rising inflation while Bitcoin has been in increasing in price lately, Therefore, it another considerable benefit for every individual or institutional investor in space right now, don't look at how high the price is before one starts to buying, Bitcoin would even double or triple in value in the coming months and years as institutional adoption is skyrocketing lately.

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It would be more risky in the future if you haven't own even a portion of bitcoin. A lot of people are now already seeing their future with bitcoin, so don't be left behind with this great opportunity to start investing and hold bitcoin for longer years.

Owning bitcoin in 2024 is like a dream come true for everyone who exactly knows the value of bitcoin. But for those who thinks bitcoin is a ponzi scheme, I think no matter how expensive bitcoin is, they will never be attracted to invest in bitcoin but rather chose fiat investment for life.

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Quote from: shawonngp on January 15, 2024, 11:56:36 AM

Right, I have bad experienced for recommend to invest in Bitcoin, okay let share it, I told some of my friends to invest in cryptocurrency they put big amount in altcoins & Bitcoin, When they suffered losses then they blamed me it's a scam because they faced losses. So if now someone asked to invest in Bitcoin then i suggested to them DYOR.

What if first, they did not in understand fully how the system works or they did not go through the market analysis properly, all these could be factors

Topic: What would it be like owning a Bitcoin in 2024? (Read 688 times)