Is it prudent to invest a lump sum of money in Bitcoin?

[Suba]

I have $50k in idle money, is it prudent if I buy all my money (lump sum) Bitcoin and I will get more than 2 Bitcoins (at the current price of $23k). Of course if I buy all my money Bitcoin really requires a high level of investment tolerance and emotion, because if the Bitcoin price goes down I have to hold Bitcoin longer or have to wait until the price goes up, but if the price spikes I will immediately take profit. Or should I apply the Dollar cost averaging strategy, namely by buying bitcoins in a fixed amount of $10k for 5 months, although the DCA strategy can reduce risk but the rate of return takes a long time. So which one do you think is better, I buy Bitcoin all at once or buy every month, I'm waiting for your comments.

 

[berean31]

Your decision really depends upon your goal and situations. You need to consider in putting your $50k into Bitcoin (BTC) the following:
1. You will not use your $50k money either for your personal or for business in the next 2 to 3 years?
2. Are you familiar with the ins and outs of BTC? It's high volatility and how the market trend does.
3. What is your purpose? Either for long term or short term?

I hope this will help you in making your very important decision.

 

[bluegreen1352]

I saw some advice given
Totally agree
Figure out your priority before diving into the market

 

[Sotherefore]

Since you are interested to invest in bitcoins , well for me I don't see anything wrong with that because bitcoins generally is a solid project but at the same time it is a risky investment because the price of bitcoins or cryptocurrency generally is extremely volatile.

Some government rules and regulation could make the price of bitcoins to drop even lower to about 10,000 dollars and might actually takes a very long time for it to return back to your buying price.

Even if you must have to make this decision , you have to consider so many things. It is a risk and you should at least invest what you can afford to lose .

Even if you have to invest , the money must strictly be for long term and you shouldn't have any plan for the money because the volatile nature of cryptocurrency makes it completely impossible to predict when you can earn tangible profit from your investment @Suba