Bitcoin mining fees has increased considerably today after halving but there are no effect on bitcoin prices. I suggested some friends to invest before and they are blaming me for the suggestion. I told them to wait for final effect as it can take some days for effect on prices but they are impatient.
You suggested that people buy Bitcoin without giving them the right information, that's not the right approach. Before you recommend any investment platform to anyone you should have a foundational knowledge about the investment platform. Just as others have said, Bitcoin halving might not have an immediate effect on the price of Bitcoin, it might take some months for the price to start appreciating. Bitcoin might get to ATH late this year or early next year.
I guess they are blaming you because you told them that they will make instant money if they invest in Bitcoin. But it is also important to tell people that Bitcoin is not a get-rich-quick scheme where you invest and make gains within a few months. The reason is that the price is volatile and the market is also unpredictable. People should have a long-term plan when they are investing in Bitcoin and using DCA should be ideal for beginners.
However, tell them to be patient, hopefully, they will make some profit from their investment. I also hope you taught them about keeping their investment safety in a decentralized wallet because you might receive more blame if they lose their money in a centralized wallet
Perfectly said. I guess you forget to tell them that we won't see price skyrocketing right after halving, that usually happens even before the past halvings so you should have known that and tell them straightforward. And that at some point, bitcoin may also not going to repeat its history and might take another price trend, I hope you should also make them aware of that. And lastly, never expect too much from halving, but put their high hopes only if bitcoin bull run is finally around since it's the best time to sell and gain massive returns.
