Post
Topic
Board Speculation
Re: Road to 100k?
by
Samlucky O
on 08/08/2024, 01:56:33 UTC
some goes as far as to borrow just to meet up and be part of those who invest in Bitcoin.

Borrowing to invest in Bitcoin is not advisable since it is a long-term investment that requires patience and consistency. It's crucial to engage in Bitcoin investment with a long-term mindset and with amount of our comfort and  we can afford to loose, Avoid taking unnecessary risks, especially borrowing funds to invest volatile asset like bitcoin that is unpredictable.
Though I may not be a trader and this thread is not about trading but we can not deny the fact that some people do trade. And they may go extra mile to take loan and invest in bitcoin but I don't think if such loan can be used for a longer time investment rather a short time investment. For  example during the earliest part of the week when bitcoin was dip by % -20, a short term trader that took loan may have made profit from the dip in price and withdraw it's profit, but I see that as a way of getting into trap. Please am not in anyway trying to sudgest or encourage trading, but just letting you know that we can not deny that loan is profitable in bitcoin investment but it is more advisable to invest from our discretion than loan. and moreover a long term plan is more better because those little profit generated from trading is the reason many people are trapped into trading.