A friend of mine just got into Bitcoin, lucky for him, his successful. Before he started Bitcoin, he was actually into a good business of selling artwork which wasn't so bad. So he got introduced to Bitcoin and had a quick success. It's actually a good and exciting thing to see someone progress fast like that, but he quit selling artworks and other little businesses that kept him going he stopped, he now depends fully on Bitcoin. Bitcoin is the king no doubt, but From my Point of view I think that depending fully on it might be risky to you financially. I don't recommend anyone to depend solely on Bitcoin or any single asset. Bitcoin can fluctuate rapidly and market volatility might impact your financial stability. It is actually very risky to invest in a single asset. The part that scares me the most is that my friend has put all his resources into this one asset. If am wrong please correct me. Thanks
Does your friend trade with Bitcoin or does he hold it? I assume, he trades because you can't stop working by just holding. Quitting your job and starting full-time trading is a very, very risky decision to my mind because you can easily lose your whole capital and then when you are also without a job, you are in a very bad condition and that's not far from being homeless, potentially forever. If I were into his shoes, I would invest in Bitcoin but I wouldn't say no to my business that has been earning me the money because when you are newbie in something, your future isn't decided, you can make such a bold decision when you are pro in something, not when you are new in something.
