Can Bitcoin be a full time career for investors?

[bestcandy]

As we all know there are many investors that doesn't work for anybody rather than relying on their businesses and investment as their full time career and as well as depend on the return on their investment for the sustainabilities. So i wish to ask if Bitcoin has the potential that investors can rely on as full time career considering the inevitable uncertainty that are involve in Bitcoin investment such as difficult in price prediction and the volatile nature of the system which may pose some kind of difficulty to have adequate
Knowledge and better understanding of the system.

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[Nwada001]

If you are a long-term investor who only relies on the Bitcoin price going up to make a profit, then you can't use it as a full-time career, as you might end up shattering that career before it even starts.
 
The price can go against you most times, and you might not like the outcome unless you are one of those early investors who have made so much from it in the past that it can sustain you until much more profit comes out of it. 
 
The best way to go about bitcoin and be on the safer side is to have something else done that you can hold onto because bitcoin can't give you a daily income to foot your bills.
 
There are people who say they make a profit on a daily basis from bitcoin, both in the bearish and bullish markets, but it takes some certain level of prediction knowledge to be able to do that, and there is still no 100% guarantee that they will always be successful.

[Dunamisx]

So i wish to ask if Bitcoin has the potential that investors can rely on as full time career considering the inevitable uncertainty that are involve in Bitcoin investment such as difficult in price prediction and the volatile nature of the system which may pose some kind of difficulty to have adequate
Knowledge and better understanding of the system.

It's possible, but you need to understand that such may not be as immediately as you invest in bitcoin, this would have taken time to make your investment mature and earn profit before you can rely on it for more profitable income, though as you have already said, it's a volatile market, you can't expect it to be always pumping without dumping as well, learning a good marketing skills like trading is another means we can earn from it even daily, Bitcoin comes with diverse opportunities for it's investors only if and when they were able to identify one.

[Mia Chloe]

Yes it can especially as a long term Hodler. Bitcoin has shown great promising future as the top crypto over the years now. Compared to other altcoins, it is more stable and has more value plus the added feature of profit anytime there is an increase in price especially during halving. Being a short term holder in the Bitcoin space is also quite possible however the returns in terms of profit during long term hodling is more.
Take a look at people who have  been hodling Bitcoin for a least 10years. A vast majority of them are whales , many don't even have to work anymore as Bitcoin has kind of created a retirement benefit for them . The fact that longer periods of time increases Bitcoin profits earned is the reason people always prefer long term hodling to trading not to mention that it is much more easier.

[Tungbulu]

First of all, having the knowledge that Bitcoin is a long-term investment should answer that question at some point. Bitcoin being a long-term investment makes it distinct from other crypto investments, this means that you should be more concerned about the long-term goals and not what it has to offer for the short-term.

If you're always considering to take out your profits from your bitcoin investment whenever you've got financial needs then you're not really investing in Bitcoin, you're doing more of gambling than investing.

That's why it's advisable for an investor to have other sources of income (not necessarily working for someone). You can have other businesses that fetch you income as well as making availability for an emergency fund, this helps you take care of any emergency that arises without having to run back to you investment for money.

Let's assume you're depending on the profits gotten from your Bitcoin investment, without having other sources of income, considering how volatile the market can be, you hit a dip and then have a financial need to sort out or an emergency but there are no profits for you to take out of the investment. That'll only leave you with the option of taking out your investment in the middle of a DIP, (which is the worst mistake ever).

So if you're a Bitcoin investment. It's essential to have other sources of income. Infact let me correct that, Bitcoin investment isn't a source of income but some sort of future investment. So if you're a Bitcoin investor, then you must availability for sources of income as well as an emergency fund and not depend on your investment for financial support.

[Learn Bitcoin]

As we all know there are many investors that doesn't work for anybody rather than relying on their businesses and investment as their full time career and as well as depend on the return on their investment for the sustainabilities. So i wish to ask if Bitcoin has the potential that investors can rely on as full time career considering the inevitable uncertainty that are involve in Bitcoin investment such as difficult in price prediction and the volatile nature of the system which may pose some kind of difficulty to have adequate
Knowledge and better understanding of the system.

Possible only if you have enough money to trade and make a profit from every little movement. But you won't make much if you do not have enough money. It depends on how much you want to earn per month. If a hundred dollars is enough for you, then you may take it as full-time career just with a ten thousand dollars. You need to learn trading and be aware that there are losses in trading as well.

If you invest a thousand, you won't make more than a $10 a day. Even if you do, this is not enough to consider as full time job income. If you invest a lot of money, you will be able to make money from every little price movement.

[Questat]

It can be one of their business/investments long-term but it it can possible they will let go of Bitcoin for other investment opportunities. This is just my opinion but the fact that we can't assure Bitcoin investment could be long-term and still profitable, it was hard to rely on this. Of course, for now, since it was obviously profitable but can be sure in the coming years.

That is why investors don't just have a single investment but many and this is because they are not reliant on a single investment in order to ensure that there is always backup. If there is a sudden collapse in other investments, they are still able to survive.

[Kakmakr]

Bitcoin trading on it's own might not be volatile enough to generate a big enough income to be a full-time job. You might have to jump into Crypto currency trading as a whole to get more income from more volatile Alt coins that might generate more sustainable income to do it full-time.

Bitcoin is a more long-term investment option, where you buy low and sell high.. when it reach a new All-time-high price. This might take years to happen, so it is not going to pay the bills on a month to month basis.

[Text]

Yes, investing in Bitcoin as a full-time career is indeed possible. I have seen or read about someone who has been in this industry for 8 years and is doing it for a living. But it's not necessary to stick only to Bitcoin; there are other cryptocurrencies available. However, of course, it's not advisable to have other coins without having any Bitcoin. I understand that Bitcoin should still be our priority because of its long-term potential.
I think you can only reach this stage if you fully understand the market, have trading skills, know risk management, have financial independence, and have other career opportunities.

[Sim_card]

Anyone that wants to depend on bitcoin to take care of his responsibilities must have sacrifice a lot on bitcoin investment that he may be close to fuck you status or have reached fuck you status. You know what that means,it takes up to 20yrs - 30yrs for some people to reach that level based on how aggressive they could accumulate bitcoin based on their discretionary income, using DCA strategy buying at the dip, and lump sum at the right time. Only the rich can achieve such status within some years, and that is if they invest more on bitcoin. For a poor and average man, it can take you up to 30 years and above before you can reach the fuck you status. That is when you can depend on bitcoin to take care of your financial responsibility. You must work and invest for a long time, meaning you can only use bitcoin as backup at old age by investing continuously without stopping over a long period of time. Bitcoin is good for pension funds, and not as a career. If you are a trader, it shoukd be a part time job, and not full time job.

[Abbatty]

As we all know there are many investors that doesn't work for anybody rather than relying on their businesses and investment as their full time career and as well as depend on the return on their investment for the sustainabilities.

A lot of investors tend to rely solely on their investments without actually thinking of diversification. Seeking options outside of crypto investment is a very good idea because depending on your crypto investments when we are aware of its volatility can be very challenging at times and also the fact that it has different seasons (pump and dump season) proves how unreliable crypto investment can be to be taken as a full time career. Be an investor with other sources of income and not just rely on your crypto investment so when crypto market is down you will have other options to turn to.

So i wish to ask if Bitcoin has the potential that investors can rely on as full time career considering the inevitable uncertainty that are involve in Bitcoin investment such as difficult in price prediction and the volatile nature of the system which may pose some kind of difficulty to have adequate Knowledge and better understanding of the system.

I don’t think it is ideal to rely on bitcoin as the only source of income or as a full time career because of it’s uncertainty. Some investors fully rely on it but they are aware of the risk, with a huge sum you can fairly rely on it and only with huge amounts that you expect reasonable profits after every small movement and only with that can one fully rely on bitcoin investment fully. Put in mind that just as the profit is high with big amounts so is the loss involved too especially at the time of dip in price and that is why my advice is to not rely only on your bitcoin investment but also have other sources you earn from.

[aioc]

As an investor and trader relying on the profit I don't think so, the market is very volatile so it's unlikely that you are going to make a profit daily, and during a bear trend, there are more losses than gains.

I still haven't met a Bitcoin investor who made a career or sustained his daily income, you should still have a daytime job to sustain yourself as income from being an investor can't sustain you.
Its a newbie belief that you can but in reality, you cannot.

[sokani]

I think it's possible for a trader to make a career out of bitcoin but depending on it as the sole source of income is not advisable. The uncertainty surrounding it is a good reason no one should do this. One can be a trader and at the same time own a business or work for an establishment. Also, I'm sure most of the big time investors and OGs who have Bitcoin that's worth millions and billions of dollars, still have investments outside crypto that's fetching them money.

[Aanuoluwatofunmi]

Such is possible, but we must be able to compare the risk involved and the benefit we stand to gain before starting, you cant expect the way a volatile currency and investment tasset to work the same way our other physical assets or careers we do, which means sometimes we can earn and some other time when the market go dip we may lose, its not like a salary pay job in which is only focused on a single direction, bitcoin is volatile and we can earn than we expect even when the market pumps and then we keep holding when its plummet and go dip.

[Moreno233]

Bitcoin is an investment instrument that does not require an individual to put too much time into, It can be done one-off through lump sum or done continuously through the DCA method or buying the dip. In all of the investment processes, an investor can still keep his job or run his business while his investment in Bitcoin is intact without any conflict. Besides, Investment in Bitcoin requires capital, so an investor have to earn money from a job or business with which it can be put into Bitcoin as a reserve for the future. The means through which the money is earned is the career path and not the Bitcoin investment.

If you are referring to Bitcoin traders, then it can be called a full time career but then there is the risk aspect which makes it necessary for the trader to acquire the skillset needed to navigate through the risk to be able to remain profitable. I will not recommend full time Bitcoin trading for anyone though, irrespective of how lucrative it may appear

Nevertheless, there are some who have passed the accumulation phase in their Bitcoin investment and well invested in Bitcoin that they can relax without working and decide to be living their life in comfort using their Bitcoin. In this case, we cannot call this full time career as they already passed the stage of active service and are simply enjoying the fruit of their labor.

[ultrloa]

As we all know there are many investors that doesn't work for anybody rather than relying on their businesses and investment as their full time career and as well as depend on the return on their investment for the sustainabilities. So i wish to ask if Bitcoin has the potential that investors can rely on as full time career considering the inevitable uncertainty that are involve in Bitcoin investment such as difficult in price prediction and the volatile nature of the system which may pose some kind of difficulty to have adequate
Knowledge and better understanding of the system.

Yes or no.

Yes if you have long experience of everything about crypto and you know how also where to invest your asset since for sure that you can earn multiple profit especially if you are  a whale.

No for the fact that market is volatile and that's add up the risk especially if you are a new guy so for sure you might provably commit a mistake that can cause a lot of money to you or to other people so with that everything is not sustainable.

So before on concluding on something risky much better for a aspiring investor to learn first on what they are trying to enter. Also they should not take any rush decision since they see someone earning a lot of money since for sure that their result is different and much better if you just take it as side income generating investment.

[SquirrelJulietGarden]

As we all know there are many investors that doesn't work for anybody rather than relying on their businesses and investment as their full time career and as well as depend on the return on their investment for the sustainabilities.

Before I answer you, I would prefer to tell you a basic principle of investment.

You must reserve some money, beyond your investment. This mean you don't use all money you have for investment and this mean you can live with reserved money or can use it for emergency.

With investment, it is risky, even the investment is in Bitcoin. You can lose your bitcoin by storing it on centralized exchanges [1], by hack of your non custodial wallet or anything else. Another risk for you, if you entirely depend on Bitcoin investment for income, is Bitcoin has bull and bear market. You can rely on your investment in bull market but in bear market, you will need money from some other sources.

You can apply
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy

My advice is continue to work, for salary and use it for your own life. Don't rely on investment for income to use as you will never be able to hold your bitcoin long enough to get good profit.

[Plaguedeath]

Full time career and investors are two different things.

Full time career means you're need to work, you sell your time for money.

While investors, you didn't need to work because you can earn capital gains from your investment.

If you mean "can someone become a full time trader?" I will answer yes, but it's maybe 1/10000000 people can do that because not all people can trade consistently have a good amount of money.

[aoluain]

As an investor and trader relying on the profit I don't think so, the market is very volatile so it's unlikely that you are going to make a profit daily, and during a bear trend, there are more losses than gains.

I still haven't met a Bitcoin investor who made a career or sustained his daily income, you should still have a daytime job to sustain yourself as income from being an investor can't sustain you.
Its a newbie belief that you can but in reality, you cannot.

Yea the OP reads more like it is asking more about traders than investors, thats how I read it anyway.

I tried trading many years ago and failed miserably. Its takes knowledge and a certain skill which I
didnt have at that time. I guess if a trader can trade any commodity they can trade Bitcoin and
make a healthy living at it. I guess because the Bitcoin market is "volatile" tit provides a perfect
opportunity for traders to make profits which makes it easy to live off the proceeds.

Experienced traders would have a good understanding of Bitcoin and a good understanding about
the community which surrounds it, long term backers and investors and newbies who FOMO in
and FUD out regularly, and how the various nuances, news and events affect the markets.

[Fara Chan]

As we all know there are many investors that doesn't work for anybody rather than relying on their businesses and investment as their full time career and as well as depend on the return on their investment for the sustainabilities. So i wish to ask if Bitcoin has the potential that investors can rely on as full time career considering the inevitable uncertainty that are involve in Bitcoin investment such as difficult in price prediction and the volatile nature of the system which may pose some kind of difficulty to have adequate
Knowledge and better understanding of the system.

This is quite an interesting question to ask and bring into the forum discussion, but since you have only been on this forum for two weeks, I will give you a bit of a full-time look at what has happened in Bitcoin. Let's say people or investors who have invested since 2012 or 2013 in Bitcoin and they still hold their Bitcoin to this day because their goal in the past was only to keep it for investment without targeting when they would sell it. Well, in this case you can see what the price of Bitcoin was in 2012 or 2013 for one unit and then compare it with the current price even though the condition is currently being corrected.

I think you will find the answer directly after looking at Bitcoin prices from year to year from 2009 until now because this will definitely give you a real picture that Bitcoin is indeed suitable to be used as a future investment asset for everyone. And you also need to know that every investor who invests in Bitcoin is not all poor or stupid because they will definitely look for their financial strength first before they start investing in Bitcoin. Likewise, their level of knowledge regarding Bitcoin means that they will never experience difficulties even though they do not work for anyone else but only rely on themselves in any case.