What I see about bitcoin is its gonna bounce between 100-110k to 80-90k for a long time (at least until Trump takes over). I have an option to take a 2.8k $ loan from a bank and pay 3.4k $ in 8 months. (I'm gonna start paying it after 2 months so you may assume its 6 months). Should I get that loan and make 3x - 5x margin trades on Bitcoin with this strategy? I really appreciate your help. Take Care.
Securing a loan for trading is first of all a very bad investment. From my personal experience, 2020 when I was introduce to trading, after seeing all the opportunity in trading after 3 months of learning I loaned money from my elder brother and promise to pay back is 3 months time. I loss all the money. And I was not able to pay back. I have to look for another means to pay back the money. Considering the emotional and psychological aspects of trading it is not advisable to take a loan for trading.