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.
You may not get that amount of profit in these 8 months as you have to return the money with interest to the bank after only 8 months. So before investing in Bitcoin or any other crypto coin with a loan, make sure to think deeply and afford to take a big loss and then take this decision. Because the bitcoin bull seems to be over already so now is the time to have a big bitcoin collection. So if you now invest in Bitcoin with such a high interest loan, if the price of Bitcoin falls, you will lose your investment, on the other hand, you will have to pay high interest to the bank, so you will face a huge loss on both sides. So I don't support your plan