Quote from: Fatunad on Today at 08:34:10 PM

Quote from: cryp24x on Today at 04:51:45 PM

Quote from: Accardo on August 23, 2021, 03:41:34 PM

Bitcoin price is increasing so fast such that some people wish they borrowed and bought bitcoin at 29k some weeks ago

I want to know if it's much risk to borrow and purchase bitcoin like it is to trade bitcoin. However, the market is pumping, and it may seem like a good move if the loan is not for lunch, rent, and family bills which account for our daily needs (That is, my daily needs have been taken care of). Thus, timing is another criterion to discuss. How can someone know the perfect time to pick such a desperate gamble? We win or lose in trading or holding bitcoin but, I presume with the help of experts in this forum who have gone through thick and thins in this market, good guides or rules can be shared for users and newbies in the forum to have a grip on the market and know if borrowing is appropriate. It does sound thoughtless but, borrowing is part of the business. And we must prepare for the best as well.

Thanks, I'm ready to learn.

Well, its your choice anyway if you want to borrow money for the sake that your gonna use it to buy Bitcoin then hold for the long term.
I don't see any problem with that if you have a good vision about it. But if your not deeply knowledgeable about in Bitcoin, I suggest borrowing money for this is not a good financial advice in my own opinion only.

This doesnt talk about being knowledgeable or not but this do mainly matters if you do able to repay those debts or interest on the right time? Bitcoin or crypto investment isnt something
that you could get some assurances for you to make profits on a specific time that you do desire.You shouldnt have this kind of mindset because this will really make mistakes
and only invest on what you could afford to lose and dont make loans if you wont able to repay it and you are just simply putting yourself into big trouble.

In general, borrowing money for crypto investment is never a good idea. You are likely gambling your money instead. I think even if you know you can repay it but it will be more ideal if you can only invest on your spare money so that if you happen to lose, you won't have to dwell on regrets.

Although bitcoin is very profitable but still there is no guarantee of sure profits since the market is highly volatile too. What goes up today might suddenly fall down tomorrow so learn to be more flexible. We know its a high risk investment so as much as possible have your own funds so you won't think of repaying loans either the market goes into bullish or bearish.