Post
Topic
Board Speculation
Re: Road to 100k?
by
Barikui1
on 08/08/2024, 09:36:32 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 not profitable in bitcoin investment to some people, 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.


Brother, sincerely speaking, it's very sad and pathetic that in this present day and time people are lacking knowledge to the extent of taking loan to invest in Bitcoin or trade, because by doing so, it puts you under unnecessary pressure, ok I want to ask, what if as he bought Bitcoin with the loan money and Bitcoin fell to 20k? and we all knows that loan money has a duration we are definitely going to pay back .

So when that time comes if Bitcoin price haven't recovered, what is he going to do? Is he not going to sell  at a loss?

This is one of the most stupid and risky decisions and investors can ever make, by investing in Bitcoin with a borrowed money, when we all knows that Bitcoin investment is more favourable to a long time holders, and using a borrowed money is mainly for short term purpose, but as long as Bitcoin investment is concerned, or even trading, using a borrowed money is absolutely a disaster, even though it's a short term purpose,   so in essence of what am trying to say is that, anybody think of such unwise decisions should think twice first before making such move.