That's just a rookie mistake, they just assume that it's always going to be up and up while the reality is different, creating a business is easy if they have capital but making it profitable is the real task and to get ROI it will be atleast 3-5 years on an average so the focus should be completely on that if we are talking about business that is just handled by ourselves.
It's due to the influence of social media motivational speakers, they just spit things without telling the real story behind it. And it made lot of people to think that I can do this, but at the end it's just that they dug their own grave.
If we think about it more clearly, if a person who wants to get a bank loan to start a business can work around, trick the bank, and diversify the funds to BUY BITCOIN, I believe that would have a higher probability of success to be in profit within FIVE YEARS than actually starting a business.It's due to the influence of social media motivational speakers, they just spit things without telling the real story behind it. And it made lot of people to think that I can do this, but at the end it's just that they dug their own grave.
It's laughable because it's TRUE.
If we are advised to invest only what we can afford to lose, then why would someone decide to take a loan and invest in Bitcoin? It is not encouraging at all, and I would say it is a very big risk for someone to take a loan just to invest in Bitcoin. Bitcoin investment is not a competition, and trying to be smart might not work out in Bitcoin investment. Trying to invest what you can't afford to lose may lead to poor decisions, like possibly turning someone into a trader. For instance, someone trying to make a profit to pay back a loan may end up selling their Bitcoin at the wrong time and buying back later, which can cause them to lose even more of their investment.
In fact, such a person will always be in a panic to sell once the Bitcoin market starts decreasing in price, as they may not want to lose more money. Additionally, if someone takes out a loan, the loan will come with interest. How can you be sure that within five years, you will make enough profit to cover both the loan and the interest apply to loan from bank.