friend I want to invest short term in bitcoin and crypto. to meet their living a

[RealMalatesta]

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

Looking for profits in crypto especially Bitcoin in the short term in my opinion is not very effective. But maybe if your friend understands spot trading with all the good strategies, that's fine. Or trying to trade Futures? Unfortunately, everything that is targeted in the long term, especially just to satisfy needs, is not the right place because it has a higher prestige. In addition to the risk, in the end your friend will meet a deadlock and it can be a loss.

Short term trading in the crypto world is like paddling against the waves in the sea. If you are really good then you could potentially still do it, there is nothing that say it’s impossible, but it is also very hard to do so if you are a newbie then you are going to just get dragged along where the price is going.

However, investing long term is like sailing with the right wind, you will go wherever you want to go without ever touching a single paddle, the winds will take you there even while you are asleep and not doing anything. Some people prefer to do the harder one, no idea why but I guess they want a quicker result, but people like me prefer to work with the wind.

[Issa56]

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

Investing in bitcoin for short term is not really a good idea, because your profit is not guaranteed, Bitcoin is not what you will invest in and after few month's you think you will be in good profit, if you really want to make good money, then you should be able to hold for long term.
I don't know what your friend means by meeting daily needs, do you mean your friend want to be trading bitcoin and he will be taking profit to take care of his daily needs? If yes, then your friend should know more about trading, or he might endup losing money. If he really wants to make good money, then he should hold for long term.

[SirLancelot]

He shouldn't rely on crypto short term  investment for his daily need, this is because he doesn't control the market, and when he's desperate to make money, he just won't stop making mistakes, I have bought some good altcoins for long term, but as the coins are pumping, I take some profit along the way. I don't sell all my position to avoid FOMO and getting nuke. Cypto is for the long term patient folks.

Why not when cryptos are highly volatile? And what about the traders? Traders don't wait long enough but they always take advantage of the swing of the price.

Many of us here doesn't have the ability to control the market but only the whales are the ones who can do that because you will be needing a very large amount of funds to be able to do manipulations but if you have that kind of fund, do you think you will do the same thing? I guess no. I wouldn't stress myself a lot to earn more and manipulating the market is also a sinful act. Mistakes are normal and if a person is desperate, he won't just give up but he will try his best to learn and improve himself.

[sulendra12]

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

I'd assume this daily needs are you can buy commodities such as electricity, foods, water bill etc in terms of daily. I'd say no to that
I don't really think that's a good idea to rely on Bitcoin especially when the intention of investing for Bitcoin is for "daily needs" which is really crucial if you fail in certain days, that'd mean no food for them.

There are million better ways to earn money aside of Bitcoin. Altcoin is good for short term but again I don't recommend it since both of you are newbie and the goal is for that.

[RockBell]

It will be very difficult to preserve that, and given the current price of bitcoin, depending on it to provide for your needs is not a wise decision. Investing in bitcoin is good if you plan to hold onto it for a while, but it takes time before you start seeing returns. It is therefore preferable to find employment so you can support yourself. You should change your plans it will be better.

[_BlackStar]

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs,

Of course he can.

and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

Good that you are willing to ask.

You should tell your friends that investing in crypto or bitcoin carries a high risk of loss and high profitability due to its price volatility. You can never consistently make a profit, but it is always possible to make a profit in the market if you are able to do a good analysis. Instead of short-term investments, you might be able to tell him about trading if the goal is to make a profit for everyday life.

Remember, it's not easy to make consistent profits for short term investments or day trading if you don't understand the workings of the market well. Even if it's good, then you won't be 100% able to make it every day either.

[Bitcoin2009]

Most people think that investing in cryptocurrencies is profit and then selling for daily needs, although this can happen but as investors of course we have to be realistic, cryptocurrencies sometimes experience difficult times like today where the market drops more than 70% in a year, it's better not to suggest to friends or family to invest, let them think for themselves and if asked then say that cryptocurrencies are very good but can make you cry.

[carlfebz2]

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

So your friend asking out on investing on bitcoin and believe that he could get daily income or profit with it? The answer could be neither Yes or No.

Yes, on the sense that you could really make profits but you would be needing for you to be a day trader.Being profitable or being constant? This is where most people do try to do but majority
had been failed but there are actually people who do able to do so but of course only on few counts.

No, market is way too volatile and making yourself highly dependent on it would really be just creating that kind of desperation which is really
a very bad move to make.

[len01]

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

it is very difficult to invest short term in bitcoin and crypto just for the sake of looking for a quick profit for daily needs.
if you really want to answer your friend's question, you can give your friend an understanding of bitcoin and other cryptocurrencies which have fluctuating prices and are very difficult to expect to always make a profit. I totally understand your friend having such a question for the reason he must think it is very easy to profit from investing in crypto. so he thought instead of working in a company or opening his own business it seems that investing in crypto is more profitable and doesn't have to work hard to earn money.
so in conclusion you just need to explain to your friends that bitcoin or other crypto can't always provide profits every day to be the main job.
and give advice to your friends it's better to work in a company or open your own business for daily needs and the rest of the money from the work salary is saved in crypto or in bitcoin to get profits in the future.

What do you mean by meet daily needs?

maybe what is meant by investing in bitcoin or other crypto in the short term to get a faster profit and the profit is used for daily needs

[BALIK]

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

So your friend asking out on investing on bitcoin and believe that he could get daily income or profit with it? The answer could be neither Yes or No.

Yes, on the sense that you could really make profits but you would be needing for you to be a day trader.Being profitable or being constant? This is where most people do try to do but majority
had been failed but there are actually people who do able to do so but of course only on few counts.

No, market is way too volatile and making yourself highly dependent on it would really be just creating that kind of desperation which is really
a very bad move to make.

Day trading makes a profit but not every day, I have never seen anyone who can consistently win in the market without losing even for top traders. Professional traders are just that their win rate is higher than their loss rate and as a result they are still profitable, but not every day they are profitable.
In this case, my advice would be no: don't view investing or trading as a job that can bring you a daily income even if you are a good trader. Be a person with a stable job and income before thinking about investing in bitcoin.

[Yatsan]

Yes, but now's not the time because of the market behavior if OP and his friends are still new in this industry. Short term investments could be thru trading. There are sites and wallets wherein investors could earn profit by making technical analysis whether the price would fall or go up which generates profit on a daily basis but requires talent and hardwork on learning patterns. To sum it up, yes investing in short term is possible.

a friend of mine came to me and he asked, is it possible to invest in bitcoin and crypto for the short term,? which is to meet daily needs, and I am confused to answer because I am still a beginner in bitcoin and crypto. and I want to ask everyone about it?

So your friend asking out on investing on bitcoin and believe that he could get daily income or profit with it? The answer could be neither Yes or No.

Yes, on the sense that you could really make profits but you would be needing for you to be a day trader.Being profitable or being constant? This is where most people do try to do but majority
had been failed but there are actually people who do able to do so but of course only on few counts.

No, market is way too volatile and making yourself highly dependent on it would really be just creating that kind of desperation which is really
a very bad move to make.

Day trading makes a profit but not every day, I have never seen anyone who can consistently win in the market without losing even for top traders. Professional traders are just that their win rate is higher than their loss rate and as a result they are still profitable, but not every day they are profitable.
In this case, my advice would be no: don't view investing or trading as a job that can bring you a daily income even if you are a good trader. Be a person with a stable job and income before thinking about investing in bitcoin.

Losing is part of the process but that is correct;even big time traders suffer loss from day trading because the market price behavior itself is way too unpredictable. TAs are just guide but won't assure a constant movement. To people who aspire to be one of traders, invest in knowledge first in order to lessen the risk of losing or wait for a clear trend line on cryptos' market value or maket in general.

[Nuraiuii]

Investing in cryptocurrencies is not easy, there is always risk in investing and there is no guarantee that your investment will always be profitable.
Bitcoin is better for long-term holding for profit, short-term investing is not a get-rich-quick scheme.

[JoyMarsha]

Your friend can but the problem is how much is your friend ready to invest daily in bitcoin. Your friend can't just invest with less money like $10-$100 and expect to see profits daily. Your friend should invest big in crypto due to how expensive bitcoin is. Note* investing big doesn't guarantee daily profits. Although your friend is likely to have little or no profits. This is one of the reasons many crypto investors invest in the long term, not the short term so that their investment money will give them profits as they continue to hodl bitcoin in their portfolios.

[sana54210]

Day trading makes a profit but not every day, I have never seen anyone who can consistently win in the market without losing even for top traders. Professional traders are just that their win rate is higher than their loss rate and as a result they are still profitable, but not every day they are profitable.
In this case, my advice would be no: don't view investing or trading as a job that can bring you a daily income even if you are a good trader. Be a person with a stable job and income before thinking about investing in bitcoin.

I agree that it is not that easy to make a profit in day trading every day, it is rare for people to have 10+ days in a row profit every day for example, the longest I had was 4 days in a row, of course in bull runs it becomes easier and maybe you will break over that, but in that case everyone does and you could have just hold it and still made profit so it is not really a big deal.

It’s the bear market where day trading shows its power, if you are capable of making a profit even during bear period then it is definitely a great job. This is of course just my own idea of it, but that doesn't change the fact that it is definitely a very hard thing to do.

[RAppleby]

Is your friend also new to cryptocurrency? Investing in cryptocurrencies as a side business? Not recommended if you have no experience. Chances are that not only did you not make money, but you also lost your original money.
Maybe you might be lucky enough to get a fund, but you won't be lucky all the time. It's the same thing as picking a lottery ticket.

[bakasabo]

Your friend can try meeting his daily needs only by trading. But to be able to do that he needs a large balance, so that his 0.5%-1% daily income would cover his expenses. To be able to achieve similar with investing, he must be extremely lucky if he wants to do only short term investment. I would say that it is impossible to invest for few month, and withdraw daily holdings profit to cover all IRL needs. That would be to simple. The money dont grow on trees, it is impossible to sit and earn.

[mich]

I think it’s great that new people are entering the crypto space daily and you should encourage your friend to do it. The more people that are part of this amazing new technological revolution the better in my opinion.

The increasing adoption of crypto currencies by the public will inevitably help us free many of us from the constraints of fiat currencies that are prone to inflation.