So far so good with Bitcoin adoption on my side but I have question

[tjtonmoy]

Have I done the right thing by telling them to wait for some correction before buying or you famz have a better idea? Because right now I don't see anything thing better than to wait, double bottom is always possible with Bitcoin in bear markets.

If they are a newbie, then it's not ideal to advise them to buy BTC right away. Keep teaching them what you can, and give it your best. Hopefully, when they are ready, they will be able to make their own profits without any advice. You can give them a small amount like $5-10 as a gift and tell them to HODL it for the future. When the price will become high in the next bull run, you can ask them to check their balance then. This will motivate them even more to learn about BTC.

[FanEagle]

Basically, just teach people what to do when it goes down. If you could teach them about DCA and the benefits of waiting, then it should be fine. A person who "understands" the fact that prices drop time to time and world economy is not doing so well neither, and they could just buy more and more during this period and wait for it to go back up, will know that its a start of something good.

If they see it go down and panic? That means they are not going to understand the benefits of this and they will be pretty upset about it. I personally believe that its going to be pretty high in the future and I believe its going to bring me wealth, all I have to do is just wait.

[Newlifebtc]

Bringing people into bitcoin another way of advertising for bitcoin showing awareness so I believe that these people that you are bringing constantly into this will also bring another people so that is a chain and is another way for many people who don't know bitcoin 20 bitcoin I think get this is how bitcoin movement started by connecting one or two persons from different areas

[KingsDen]

Here is where I am confused, the present value of Bitcoin is growing, some said it's because of the Chinese New year Holiday aka Year of the Rabbit, since I got mine at 17,000 and 15,000 I feel it's wrong to tell these newbies to buy at 23,000$

You have done really well by introducing bitcoin to your friends, colleagues or your family. It is a very good thing you are doing for them they may not appreciate it now but in the future I am very much convinced that they will appreciate it. But I have a very big concern which is being a financial advisor to people that you introduced into bitcoin. Please desist from doing that, no one knows how the market will move only advise them to do their own research that is the popular phrase in this forum. Don't advise were to buy or where to sell.
Don't forget to tell them to invest what they are able to lose.
I wish you would have any other reason to make people embrace bitcoin apart from "when bitcoin rises your money will multiply"

[Mr.right85]

Well, you are doing your bit in the bitcoin adoption idea and as well, helping these individuals see a side they would have later seen in course of there existence much earlier. Perhaps, one thing you should bring to there notice is, there isn't a specific time to buy although, its much better to buy when the market dips but, the profit has always been on how long you could hold before selling.

On the whole, trying to specify or direct when they should buy or sell isn't always in your best interest neither in there's. You actually deprive them of the chance of doing there own research and having confident in making investment decisions. I get it that, its gradual but, you've got to let them make these choices and save yourself the blame on whatever becomes the result of the investment.

[romero121]

Bringing people into bitcoin another way of advertising for bitcoin showing awareness so I believe that these people that you are bringing constantly into this will also bring another people so that is a chain and is another way for many people who don't know bitcoin 20 bitcoin I think get this is how bitcoin movement started by connecting one or two persons from different areas

Spreading what you've found good about something is a must. This is how the progress happens, very few get into such kind of activities. If you go through the days of bitcoin's survival, it is evident that bitcoin spreading was much through word of mouth. In recent years only it got much exposed to the outer world through advertisement. Making people learn something new is really good initiative that need to be recognised.

[dansus021]

Do not give financial advise to other people, because they will put the blame on you, when they lose money.

Yes its true I hade the same situation like this although that person is my brother and not blaming me, but still there is feeling guilty about it 

but for now when people asked me Ill give them basic information and redirect them to youtube and always said that there is always risk on any kind of investment

[Oasisman]

I wish there is a way that I can show families on here how successful I have bring numbers of people into Bitcoin between 2021 - 2023, it's been so great and I am very happy about it, I have fresh newbies at hand right now,  two of them are from the same university 🎓, I have spent 6 weeks with them teaching and answering questions about Bitcoin and wallets, now they decide to purchase their first set of Bitcoin.

Here is where I am confused, the present value of Bitcoin is growing, some said it's because of the Chinese New year Holiday aka Year of the Rabbit, since I got mine at 17,000 and 15,000 I feel it's wrong to tell these newbies to buy at 23,000$

Have I done the right thing by telling them to wait for some correction before buying or you famz have a better idea? Because right now I don't see anything thing better than to wait, double bottom is always possible with Bitcoin in bear markets.

Not really a wrong idea to tell them they had to have their own Bitcoin while the price is still considered as "cheap or affordable".
Waiting for the bottom might probably the bad idea, because what if we already had the bottom? And when the price starts rising, then doubts would arise as well, then it might create a FOMO for them and they'll pay more than what the price currently. Therefore, IMO, it's not really a bad idea to let them buy today and teach them how to DCA moving forward.

[Sebas.tian]

Have I done the right thing by telling them to wait for some correction before buying or you famz have a better idea?

Yes, because you want them to be a responsible people in future that made you to advise them not to buy now than to wait for the price of Bitcoin to decrease more to a level they can use a huge amount of money to buy and hold for a better future. If they can wait for the price of Bitcoin to decrease to $20,000 before they can buy and hold will be favourable, because it will be difficult for the price of Bitcoin to decrease to $15,000 or $17,000 again.  I think, they will never forget the impact you have impacted them because there are many people over there looking for a genuine facilitator who can impact them the knowledge of Bitcoin but they find it difficult in their environment.

[maydna]

Do not give financial advise to other people, because they will put the blame on you, when they lose money.

Yes its true I hade the same situation like this although that person is my brother and not blaming me, but still there is feeling guilty about it 

but for now when people asked me Ill give them basic information and redirect them to youtube and always said that there is always risk on any kind of investment

Right. When I give financial advice to other people, I fear it won't work for them and will cost them money. As someone who knows them intimately, it would make me uncomfortable with him, and maybe he would too.

That's why I always advise people who want investment advice to seek more information, but I will accompany him as long as he is looking for that information so that he doesn't go astray. I also put more emphasis on the person that there is a risk behind everything, and he should think carefully about that risk.

[Fivestar4everMVP]

Looking at the price of bitcoin right now, I believe your decision of telling your friends to wait a bit before buying was indeed a wise decision, but this is if they haven't bought already before now, but then, the good thing is that, even if they end up buying at $23,000, they will still make their profit as long as they are buying with a mindset of holding for long term, The price of bitcoin will probably reach a new all time high next year if we experience a bull run like we've always experienced it the past years during bitcoin halving, so buying at $23,000 is relatively buying cheap when we compare this current price to the all time high price which is over $68,000 I believe.

[Vyeon11]

did you suggest them, or did they start asking you?
if your friend asks about bitcoin first, it's not a problem, but what becomes a problem is when you first suggest your friend about bitcoin.
if you suggest them, you have to be careful, when they are profitable they will definitely thank you, but on the contrary, if your friend loses investing in bitcoin, at least your friend will complain to you.

[dansus021]

Right. When I give financial advice to other people, I fear it won't work for them and will cost them money. As someone who knows them intimately, it would make me uncomfortable with him, and maybe he would too.

That's why I always advise people who want investment advice to seek more information, but I will accompany him as long as he is looking for that information so that he doesn't go astray. I also put more emphasis on the person that there is a risk behind everything, and he should think carefully about that risk.

Yeah I know it, sometimes all advice doesn't work to our friend but it does work when we using it, and it also comes to trade. everybody knows that trade is risky and bitcoin is very volatile but some people who don't know trade it always say get easy money the truth is 

[wxa7115]

did you suggest them, or did they start asking you?
if your friend asks about bitcoin first, it's not a problem, but what becomes a problem is when you first suggest your friend about bitcoin.
if you suggest them, you have to be careful, when they are profitable they will definitely thank you, but on the contrary, if your friend loses investing in bitcoin, at least your friend will complain to you.

Talking about bitcoin is fine as long as no financial advice is given at all, and if at some point such information is asked from us we must be very clear about not being willing to give advice away, now or ever.

And this is because even if we meant well we do not know the circumstances which surround the economic conditions of the person asking for our advice, so what may be a good move for us could be a terrible move for them, and if they followed our advice we may be creating economic problems for them which could take years to recover from.

[Kakmakr]

Now, before we go into Bitcoin's volatility and the best time to buy... I just need to tell you that Bitcoin is not meant to be a speculative investment tool... Satoshi Nakamoto developed Bitcoin to be an alternative payment option.. not an investment tool. So, when the Banks and governments fail, people owning Bitcoin...can still use bitcoins to buy & sell goods or to pay for services.

Now that we have that out of the way, I just want to tell you that there are no "best" time to buy bitcoins... I introduced people to Bitcoin when the price was $18 000 and they bought bitcoins at that price... not long after that, the Bitcoin price dropped with almost 80%.... but I convinced them to hodl..and they sold some of those bitcoins years after that for between $40 000 and some even at $60 000. 

[Accardo]

It depends on the type of investor you are nurturing your students to become. If you stretch more about long term investment in their lesson notes, they won't be afraid to buy, regardless of the current price. So, saying the buy now decision is wrong, you may not teach them, and that can lead them never to buy bitcoin. They should be aware of the losses involved in bitcoin even before asking question about the digital currency, I'd say that it's their duty to invest a bearable amount of money; what they won't need in few years. That way, they'll experience the profits and loss in bitcoin market and not get worried or bothered. However, If its something they can handle, passing through the bear bull market, buying bitcoin at any price won't be a long term decision.

But, you seem to be the type of teacher that'll encourage them to wait, what if bitcoin doesn't drop to 17k again? You'll regret they didn't buy now when the price hits 30k. Just click on the positive idea, what matters is that they own bitcoin. It's important to be kind than to be important.

[Yatsan]

There's no such thing as late or too early especially if you just cannot endure the market behavior. Invest on your likeness and capabilities. Even if you were able to buy at $15k lowest since ATH, if you cannot endure changes with the market price and lack of consistency, then for sure you'd be forced to sell or liquidate simply because it is you capability and circumstances as an investor which are your biggest problem. Give them reminders that the price won't continuously increase in a consistent manner because that would save them regrets especially if they were just carried by the hype of industry. Also, you just cannot take every profit from this industry so if you are waiting for the lowest, and given how unpredictable this market is, it will just be a waste of time.

[pawanjain]

I wish there is a way that I can show families on here how successful I have bring numbers of people into Bitcoin between 2021 - 2023, it's been so great and I am very happy about it, I have fresh newbies at hand right now,  two of them are from the same university 🎓, I have spent 6 weeks with them teaching and answering questions about Bitcoin and wallets, now they decide to purchase their first set of Bitcoin.

Here is where I am confused, the present value of Bitcoin is growing, some said it's because of the Chinese New year Holiday aka Year of the Rabbit, since I got mine at 17,000 and 15,000 I feel it's wrong to tell these newbies to buy at 23,000$

Have I done the right thing by telling them to wait for some correction before buying or you famz have a better idea? Because right now I don't see anything thing better than to wait, double bottom is always possible with Bitcoin in bear markets.

You are doing a great thing by spreading the word about bitcoin and it's tech but I guess instead of telling them to buy at this price you can educate them more.
You can educate them to trade and teach them the basics about it. After that it will be their call whether they should go ahead or not.
This will take you on a safer side and nobody can blame you for their mistakes while preaching you for your teachings.

[jeraldskie11]

Do not give financial advise to other people, because they will put the blame on you, when they lose money.

Yes its true I hade the same situation like this although that person is my brother and not blaming me, but still there is feeling guilty about it 

but for now when people asked me Ill give them basic information and redirect them to youtube and always said that there is always risk on any kind of investment

That's the reason why we must only invest what we can afford to lose and he must know that. If you really believe that Bitcoin price will go up, then why you don't tell it to other people. You must convince yourself first by doing a Technical Analysis and Fundamental Analysis before you attract people. They must know that there's a risk on it and don't force them to invest. If we did that, I think we will not feel guilty if they lose money.

[JoyMarsha]

I have spent 6 weeks with them teaching and answering questions about Bitcoin and wallets, now they decide to purchase their first set of Bitcoin.

In those 6 weeks of your teaching and answering their questions, did you tell them how volatile the crypto market is, and how they can hodl and have patience with their crypto investment? If you do explain to them how the crypto market works, let them have their first bitcoin investment (investing with their spare money).

Have I done the right thing by telling them to wait for some correction before buying or you famz have a better idea? Because right now I don't see anything thing better than to wait, double bottom is always possible with Bitcoin in bear markets.

Do you know whether the present price of bitcoin($23k) is the correction price of bitcoin? Having said that, let them invest if they can and hodl on for a long time. The amount they invested in Bitcoin will surely give them profits returns in the future(bull run season)