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

[Ayers]

It's great that you have taken the time to teach bitcoin to those around you, and I believe that questions about bitcoin price will always be asked in every lesson, and I can see that you cannot avoid mistakes. Giving financial advice to others is something we should avoid as much as possible because no one can predict the future. Everything happened, and it won't be too serious even if bitcoin drops again, as long as they don't sell bitcoin, they won't lose. But you should avoid doing this again in the future.

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[Leviathan.007]

Do not give financial advise to other people, because they will put the blame on you, when they lose money.
It's great that you are spreading the word about Bitcoin. Good Job, OP. If I was on your place, I would just explain the basic principles and the core concept of Bitcoin and blockchain technology. I wouldn't tell the noobs when to buy and when to sell. Nobody can predict the market, even the best crypto traders are failing sometimes. Knowing Bitcoin is one thing, learning and practicing crypto trading is a different thing.
By the way, I don't think that the main reason for the small price growth from 16K to 23K is the Chinese New Year. Wasn't Bitcoin banned in China?

Me too and the reason why I don't give any financial advice is exactly what you said. Even if you get profits and benefits from the advice you give them they won't say anything like they were responsible for investing and mostly they won't thank the advisor for the financial advice while if they lose anything they will start blaming you for giving them bad financial advice while they are responsible for any investment they do and even if you give them a piece of bad financial advice still they still can think and make a decision by themselves without of blaming other people.

[crunck]

You are wrong to give them financial advice because if the price doesn't go up as expected but goes down, they will most likely blame you immediately. But the price of $ 23k is not too bad, so you do not need to worry, this is still a very good price to buy because compared to ATH in 2021, this is a low price.

[KennyR]

You've took six consecutive weeks to educate the people about bitcoin. From the very first day onwards surely you could've shown them about the price. Over time surely they might've noticed the price variation. This could've made them understand better about the fluctuation of the market. This can be bullish/bearish. So, ask them to go for very little amount based on their understanding and further increase depending on the market.

[m2017]

It's always commendable when someone shares useful information with newbies, including about bitcoin.

I don't see anything wrong with the advice to buy a btc at a price of $23k. In the last bull run, btc went from ~$20k to ~$69k. If this happens again in the future, then a threefold increase is quite possible. With each cycle, the maximum value rises, which means that $69k is not yet the limit.

But your friends should know that they won't get rich in a couple of days and will have to hold bitcoin for a while.

In general, now you can do this. Divide the money allocated for the purchase into 2 parts and buy now for 1st part, and if there is a bottom for the 2nd part. Better yet, divide into more parts and buy for each part once a week to average out the cost of the purchase.

[dimonstration]

Everything happened, and it won't be too serious even if bitcoin drops again, as long as they don't sell bitcoin, they won't lose. But you should avoid doing this again in the future.

There should always be a note or reminder to anyone we’re teaching that bitcoin is volatile and we can’t guarantee the price no matter how we monitor and study the market and charts, there are tendencies that we will buy at higher or lower price than others and sells it at higher or lower price than we bought it. I guess as long as we tell them the beneficials pros and cons and they agree that they are willing to take risk in bitcoin then we should not worry. We can guide them but they should find ways to study it by themselves. Trading and investing is a long journey we can’t always depend on the ones who teach us into it.

[Fullcoinese]

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$

maybe you forgot to teach them that investing in Bitcoin always requires patience. and also of course there is a big risk that allows them to lose money too.
you will not be able to guarantee the value of their investment will continue to rise. because you were lucky enough with a decent purchase and now you have a profit.
I can only hope that your friends will not lose their faith in Bitcoin when the value of the investments made decreases. because if it is the first experience, this could be very memorable for them, whether it will be fun or even detrimental.

[Crypto_H]

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.

The decision to buy or hold is subjective and depends on individual investment strategies and risk tolerance. However, it's generally recommended to consider the long-term potential of an investment rather than short-term price fluctuations.

Double bottoms can occur during bear markets, but they are also uncertain and can't be predicted with certainty. Some investors prefer to wait for corrections, while others buy and hold through market cycles.

Ultimately, it's important to do thorough research, consider your financial goals and risk tolerance, and seek professional financial advice before making any investment decisions.

[TimeTeller]

Everything happened, and it won't be too serious even if bitcoin drops again, as long as they don't sell bitcoin, they won't lose. But you should avoid doing this again in the future.

There should always be a note or reminder to anyone we’re teaching that bitcoin is volatile and we can’t guarantee the price no matter how we monitor and study the market and charts, there are tendencies that we will buy at higher or lower price than others and sells it at higher or lower price than we bought it. I guess as long as we tell them the beneficials pros and cons and they agree that they are willing to take risk in bitcoin then we should not worry. We can guide them but they should find ways to study it by themselves. Trading and investing is a long journey we can’t always depend on the ones who teach us into it.

That is very correct. As a mentor, you are not always by their side to tell what to do next.
So whether to buy at this price level should also be at their disposal and not only relying on your decision.
You can't tell what will happen next also, so you are also relying on your instincts about what will happen next.
Just remind them of the possible consequences of buying at this level right now, or letting this price level pass by at the moment.
The price may decrease or increase depending on the surrounding developments or news at this market.
One should always be prepared and have their contingency plans so as not to get caught in the bad situation.

[Frankolala]

don't encourage people i talk to about bitcoin to buy bitcoin or tell them about the profitable aspect of it,i just teach them the basics of bitcion. Anyway,if you have taught them so much about bitcoin and its volatile nature, you should go ahead to purchase their bitcoin for them,do not wait for the price to come down because nobody can predict bitcoin volatile nature. Presently what we are experiencing is a rise in price and you don't know if this will be the cheapest price of bitcoin.

You bought in a different year and they want to also buy in a different  year, this will make the price not to be the same. The earlier, you invest into bitcoin the best for you. Bring them into the forum so that they can continue to learn on their own,so that you they can take care of their investment themselves after buying. Let them know that a long term investment is the most beneficial.

[franky1]

problems with advising family/friends
you personally do not control the market. yet being their advisor you become their communication point of their investment which means when the market changes directions you get the blame for their investment

feel free to teach them about it. such as features where:
you can store value without a bank account. by storing on addresses
they can set up family trusts without a bank manager/lawyer via simply using multisig
you can set up "shell accounts" again without accountants, managers, lawyers. simple by moving funds to different addresses
funds can settle in 10 minutes rather than fiats 48 hours 'pending balance'
and all the other hundreds of uses

you can rationalise down some hyped up, over promised, expectations by knowing about the value:premium borders which markets then trade within.
again this is not predicting prices this is about understanding limitations

but dont make predictions, promises or hype them up into thinking they can guarantee Xreturns in Y timeline

[Ucy]

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.

I wouldn't advise you to continue guiding those newbies if you don't know exactly how to help them trade safely. If you are unsure you can tell them to split their funds between Bitcoin and stablecoin, so that when the price continues to rise they benefit otherwise they can buy more Bitcoin from their stablecoin reserve.

By the way, the one who is keeping Bitcoin at the current price says it will continue to move up, why doubt that? Or didn't you read it?  Well, I will not advice you to wait for a correction at this point but just be careful at +$30,000 price level.





Lest I forget, the bolded is not the cause of the massive increase in Bitcoin price this January

[Flexystar]

Right now I am just sharing my thoughts and also showing them how I am able earn in bitcoins over online networking. In fact I have also told them how I am able to make some bucks from the forum itself. This made them believe that we can actually get real money from the bitcoin. Since further to this I have also curiously shown them how one can get bitcoins, exchange them to various alts and most importantly how one can get them exchanged to fiat and get money in their bank accounts. Obviously there are few differences in the thoughts of different age group but yeah I’m doing fine with this methodology.

[Gallar]

if they're going to invest in bitcoin for the long term, that's not a bad thing.
Buying bitcoin at $23,000 is still considered a low price, and it will definitely be more than that.
and what you have taught your friends is correct, so you don't need to worry.
but make sure they also know about the quadrennial cycle of bitcoin (halving)

[ethereumhunter]

Before you tell them more about bitcoin, you should have explained the risks of investing in bitcoin and if their goal is to invest in bitcoin for the long term, they should be able to buy at many prices, including the current price. It's true to wait for some correction before buying bitcoins and $23k is when a correction comes but if you tell them to wait for another correction, that's fine too. But they should also be able to analyze for themselves when they can buy bitcoins because buying bitcoins at any price is based on their individual decisions from the analysis they have carried out and not on advice from other people.

[rat03gopoh]

If you previously inserted disclaimers about risk in every explanation (especially the loss of decreasing value), then there's no need to think about it. Just curious about what orientation you teach your friends to adopt bitcoin, investing, trading, utilization, or what?

[xSkylarx]

You should  not tell them, let them discover what price they need to buy, you are already teaching them for 6 weeks, right? Then that is their exam to determine if it is a good buy or not (but it is always a good buy as long as you have money). You should not decide if they need to buy now, just give them ideas like showing them what is your opinion about the price then let them decide or find their analysis and decide. Just don't forget to also guide them as I am sure if they already holding bitcoin they will keep watching their wallet from time to time and if the price drops they tend to get emotional and sell off

[Rigon]

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.

OP you did a good job introducing them to Bitcoin. This has increased the popularity of Bitcoin and they have gained knowledge about Bitcoin. Investment advice should not be given to any person. If the market takes a bad turn after investing in your advice, that person will blame you. If I were you, I would never advise new people to invest. But I used to teach them all the tricks of investment trading.

[Obari]

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 shouldn't be in the position to decide when to buy or sell their coins mate, humans are very ungrateful and it takes just one bad to cancel an entire 99 good you must have done for someone, so you have to be very careful and I also want to add that you've done a very great noble to have taught them about Bitcoin and I would advice that you get them into the forum if you haven't done so because that will at least open their eyes more to seeing what Bitcoin is all about and also help answer more of their questions regarding Bitcoin.
Please don't put yourself in the position of telling one what to do with their possession because you might held for any loss if the market goes sour and against them,
Also preach more of doing your own research (DYOR) to them.

[Franctoshi]

Please while bring people into the space and teaching them things about Bitcoin, ensure you as well teach them about the risk factors associated with investing in digital asset, precisely volatility, storage and security.
Lastly tell them to always do their own individual research before starting up to invest in Bitcoin and cryptocurrency, so they can bear full responsibility of whatever decision they may take.