Better with a reserve fund, it will be safer and you don't have to think about paying the loan when you don't recover the capital.
There is a complexity between "buying at dips" and "available funds". I mean not all the people are ready with reserve funds when there is a dip in the market. So, it is becoming inevitable for most people to go for loans to make use of dips to maximize their bitcoin stash. I had the experience of buying bitcoin with loan amount. Even that was during the period of bearish markets, I somehow managed repaying the loan from my regular job.