I am looking to increase my bitcoin holdings and i am looking at taking a crypto backed loan with one of the leading platforms? i would be fine to take this loan out a few months ago but at this stage of the bull run how risky would it be ,i know a loan can be risky to begin with, but am i just playing with fire or is there a good chance it will pay off? it would be a 15000 dollar loan a 50% ltv for more information, thanks
Yes, that would be really foolish. Don't take loans to make risky investment. Remember the golden rule? Invest only what you can afford to lose. Can you afford to lose the loans you have taken? How will you be able to repay it?
And the price has already gone up. It's currently stable between $54,000 to $58,000. Even if it goes higher, I doubt its going to jump much. So, the risk is not worth taking. But if you really want to risk it, then go ahead. But make sure you have a backup plan.