Do you agree?
Absolutely agree. He can choose bitcoin as his investment, but he needs to learn first before he invests his money in bitcoin. Besides that, you should teach them about bitcoin, so they will know bitcoin from the trusted person because you are his friend.
Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)?
I don't think bitcoin is a stable investment for a long term holding because you see that bitcoin have up and down history and the bitcoin price will always up and down in every day. But bitcoin is one of reliable and the best investment so far, at least for myself and I always suggest people around me invest in bitcoin.
Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up?
Bitcoin, in the end, will go up to the higher price after reached the bottom price. But unfortunately, we never know how deep bitcoin price will down, and that will happen too if the bitcoin price increases in someday.
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?
The price can go to the lower price, and in these situations, the price can go down below $10K or even lower than $9k. Like I said before, no one will know where the price can go because it depends on the supply and demand.
Please give me your thoughts. IRA or Bitcoin for the long term?
I will choose bitcoin for the long term. Advice your friend parents to buy hardware wallet and save the bitcoin in that wallet and never save it in the exchanges if he wants to hold bitcoin for the long term.
If i have 100k i would split it like %20 bitcoin, %50 gold and %30 2-3 of top altcoins.about btc and altcoins stop-loss is necessary.
Bitcoin will be the biggest percentage, and the rest percentage will go to the altcoin. The scheme will be like this, bitcoin will be 30%, gold will be 20% the altcoin will be 10%, and the fiat will be 40%.