Post
Topic
Board Bitcoin Discussion
Re: Today is the story of my investment in Bitcoin
by
tjtonmoy
on 11/04/2023, 07:15:25 UTC
If we go by what the OP has said, he made mention that if he's able to make about 100-500% in 2 years, then he can repay those debts, which means the loan he took is to be repaid in two years with just 10% interest to the bank and 8% to his uncle. It's really good timing for OP, and he still has enough time to repay the loan. From when he created this thread, June this year will make it one year, so the OP still has a year plus some months to repay the loan, plus the fact that next year is Bitcoin's halving. The Bitcoin price always increase during it's halving period, so if the OP hold till next year halving season, he will have made a good profit to have repaid the loan.
Are you really certain that this will really happen in 2 years time period? It's all about calculation and prediction, which are never 100% accurate. And what about risk management?
Let's say that OP did a good choice, choosing the time and price, and now he's making profits. Let's imagine the same scenario with a different user who will buy after watching this post and getting inspired from it. I am not against HODL and long term investment. But just imagine, someone else took some huge loan in order to invest in bitcoin.
The bull market starts, and as we all know, it doesn't stay high for a long period of time. It will drop again. What if the price drops below your buying value?
How long are you going to HODL again? And how are you going to repay your loan with interest? That's why it is best to invest what belongs to you and some small amount of loans that you are able to repay in short time in this event.(Taking loan for BTC investment is never a good idea).