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.
I also want to take a loan to invest more than what I already have since most of crypto has drop down.
But it is always better to be free from debt.
What if it doesn't work out then the interest would just accumulate and worst is that the price could continue to drop.
I think there are still people that don't still understand the crypto market and how it works. You can not predict the market so it's better for you to take moderate risk because your might be surprised to see the price of Bitcoin falling and keep falling, and your mind might be telling you that you can make enter the market and buy the dip. You may be surprised that the market keep dipping as you are buying, thinking that you have bought the dip while everything keep dipping. This is why it's good for us to know why the market is dipping or going bull to help us make a useful decision in the market.