Post
Topic
Board Bitcoin Discussion
Merits 2 from 1 user
Re: Today is the story of my investment in Bitcoin
by
coolcoinz
on 30/06/2022, 14:23:19 UTC
⭐ Merited by JayJuanGee (2)
On one hand you did great OP by buying bitcoin  and not some altcoin. You also chose good buying in at over 70% discount, which should reduce the risk of losing money to a minimum.
On the other hand, you took a loan and interest can be different in 2 years if the inflation keeps rising. Remember that banks can renegotiate your deal if the economy takes a huge hit and also, your fiat will be worth less, so you won't have other choices but to sell bitcoin and take a loss or sell some other property to pay the bank.

1 Bitcoin is just a number. You don't need that much. What if you had 0.5?
I feel like you're chasing profits because you're giving yourself a timeline of 2 years. What if nothing happens by then? Will you consider bitcoin a bad investment?

You're like those guys who invest in bitcoin because they have something to buy and they say to themselves" next halving I'm getting a corvete because I have to show off to my friends! Since bitcoin can reach 100k after the 2024 and my dream car costs 70k, therefore I need 0.7 BTC at $100k to cover that, so I'll take a lonan, buy 0.8 BTC, 0.1 will cover the fees and the rest is for the car"
Plans like that rarely work and then you fall into depression.

Don't expect anything, consider the money lost already, stop following the price and just live your life.

When the price was down in 2018 and 2019 I kept living my life and just accumulating bit by bit from signature campaigns and it paid off. I'm doing the same thing now. No loans, no trading, just holding until something good happens and something will eventually happen. If not this year then in 3 years.