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.
Much better to earn and save first before entering an investment thing but if you can handle the stress and all the negative thing when your investment doesn't reach your goal then go on. It is your choice to invest and borrow some money at your own risk.
Borrow if you could able to bare the risk but if not then better wait for the right time be because there's right time on everything but I could not blame on why others is on the rush because opportunities do really come on an unexpected way which you would need to act fast so that you could take advantage of it and this is where taking loan or borrowing money would be one of your options.So it's a personal choice and be sure or responsible on repaying those in the right time so that you would avoid problems.