There are various ways to consider a loan, and surely any loan will have terms that cause it to cost money, and surely if the loan has favorable terms in regards to length of time and/or fees, then it could be worth while to enter. A loan can be used as a way to frontload an investment into bitcoin with income that has not yet come in. You should be able to pay off the loan no matter if bitcoin performs well or not during the term of the loan.
If bitcoin performs poorly then you might realize that the loan did not work to your advantage, and you would have had done better to just invest with your normal income and you would not have had to have had paid the fees.
If bitcoin performs well during the term of the loan, then of course, you will feel like a genius that you were able to buy more bitcoin than you otherwise would have had been able to buy through your regular income.
The main things are the fees, the term of the loan and your ability to pay back the loan, even if bitcoin goes to zero during the duration of the loan.
Your break down about opting for a loan to invest in Bitcoin is understandable, first of all we should know that Bitcoin is a volatile asset and also a long time investment so we shouldn't hope on our Bitcoin investment to pay back our loan there should be a different means to pay back and not hope on our Bitcoin investment.
The ability to pay back is really what matters no matter the outcome of our Bitcoin investment one should not borrow money if the hope of paying back is through your Bitcoin investment it is better not borrow because you won't like your self when the time to pay back has exceed.
Yes, it's not wrong to borrow money to invest in Bitcoin if you are very sure you have a good means of repaying your loan before the repayment time elapses so that it will not attract additional interest and force you to sell your Bitcoin investment too early so that you can repay your loan and save yourself from any problem or embarrassment. So since Bitcoin investment is a long term investment, it is never advisable for someone to take a loan with the mindset of repaying his/her loan with his/her Bitcoin investment because that person will end up selling his/her Bitcoin investment to repay his/her loan.
But there is a big need for mentality here, Bitcoin is a volatile journey, it will show a lot of volatility in the short term, so for this reason, it is necessary to take appropriate measures to hold Bitcoin in the long term. It is not wrong to invest with debt, if you have the ability to repay that debt. But the main thing here is to be realistic, many people do not have the ability to repay the debt but still they decide to invest in Bitcoin with debt, but it will definitely create a kind of mental stress, those who have the pressure of this debt on their heads, they can often panic during the ups and downs of the market and make wrong decisions, because they will think that since this money must be returned to them, they can sell it quickly, where they have already faced a big loss. So the decision here must be mature, realistic and clear. if you think, you will invest in Bitcoin by taking a loan, then you will profit from it, and later repay this loan from that profit, if your mentality is like this, then you should definitely stay away from it, this is going to put you in great danger. You should only invest in debt when you have a separate arrangement to repay that debt, so that you don't have to rely on this investment to repay the debt.