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.
Getting a loan to invest in cryptocurrency is a very wrong move especially because of its volatile nature and just as the first user commented on Your post asking if you can really pay off your loan if your plans don’t go as expected or you’ll be tied down?
Loans aren’t a great idea and I’m saying this from a personal experience and most times I wish I’m not in debts and I’m telling you that, getting a loan to invest in bitcoin with hopes of making massive profits even enough to pay off the interest and the actual loan is insane and you shouldn’t even give it a shot of you want to stay free from debts.