Topic: Bitcoin Price at $18,000 On Christmas eve ? - page 2. (Read 375 times)
I cringe every time I see people looking to take out a loan to have it invested. The cringe becomes even more of a thing when the projected returns of that specific investment aren't based on something other than hope. I have once seen a documentary about how Chinese people take out mortgage loans to have it invested in the stock market there. It was heartbreaking seeing how people some times in a matter of months put their life to waste with like that. The problem that people can't deal with is that they will end up paying interest on the outstanding debt that was created by missing out on payments. You are paying interest on debt that is generating more debt -- that's when you know that you messed up.
No one can say if it will reach that price or not within this year. But even if it does, what you are planning is really risky. You might say that the interest is just 10% but it is paid in monthly. The interest is probably compounded and there are penalties if you do not pay in time. The gains you get when the price double may not be enough to cover the penalties and interest if you cannot pay your monthly dues while your money is in bitcoin. And it gets worse if the price did not reach your target.
it all depends on your own, dude. if you are ready with all the risks why not! but, such a thing is not recommended to users or investors. advice from me, better invest your own money results not from others. no matter how small you invest but meurped my results very useful, but back again on your own, all ball is in your court, dude.
Maybe, but you should not be taking any loans to buy crypto. We are in a multi-year bear market and the price can fall even more.
I want to take a loan next week and buy 1 bitcoin ,hold it for the next 6 months. The interest rate is 10% per a year for 12 months duration. Do you think Bitcoin will be at $18,000 by December 24?. So that considering the price now, I would have make double of my initial capital, pay the loan off and reinvest the profit.
Taking a loan to invest in highly volatile assets is never a good idea. Can you repay the loan and live comfortably? Do you need that money? Can you hold for years and endure physically if we enter a prolonged bear market period? Those are the questions you have to ask yourself
Not a good time to invest. Wait for the autumn. The prices may fall lower levels and to reach the 10000 dollars level may take 12 months.
The interest rate is 10% per a year for 12 months duration.
The initial interest rate might be 10% per year, but if you fail to pay your monthly settlements, your 'interest' rate will increase to +25% and that for the first year only. If it keeps dragging on, you initiate a situation where even if you end up paying your monthly settlements, it's impossible to get rid of this debt. This is how a lot people end up in big financial problems that they won't ever be able to solve. Debt is the root of evil.People forcing themselves to buy whole coins without having the financial means to do so are plain stupid. Don't be one of them OP.
why not just buy bitcoin with the money that you already have and are wasting? it is an accumulation. you start by investing small amounts in bitcoin and each week or month you buy a portion of bitcoin. for example buy $50 worth of it per month. if you started doing that last year now you would have had 0.32517BTC.
This. Definitely deserves a Merit. 
why not just buy bitcoin with the money that you already have and are wasting? it is an accumulation. you start by investing small amounts in bitcoin and each week or month you buy a portion of bitcoin. for example buy $50 worth of it per month. if you started doing that last year now you would have had 0.32517BTC.
i took the liberty of creating this table, you can copy paste it into excell and change the variables:
price at day 1 of each month > amount of BTC bought with $50
966 0.051759834
986 0.050709939
1191 0.041981528
1071 0.046685341
1348 0.037091988
2298 0.02175805
2465 0.020283976
2616 0.01911315
4671 0.010704346
4216 0.011859583
6340 0.007886435
9370 0.005336179
total is 0.32517BTC, current value: $2373, invested: $600 over 1 year slowly.
($50 is about the cost of 2 pizzas per month)
with $100 per month: 0.65034BTC = $4747 and invested $1200.
this is not mentioning all the opportunities that you could buy the dips instead of buying at first day of each month and ignoring the fact that you could also trade a little and make more profit.
i took the liberty of creating this table, you can copy paste it into excell and change the variables:
price at day 1 of each month > amount of BTC bought with $50
966 0.051759834
986 0.050709939
1191 0.041981528
1071 0.046685341
1348 0.037091988
2298 0.02175805
2465 0.020283976
2616 0.01911315
4671 0.010704346
4216 0.011859583
6340 0.007886435
9370 0.005336179
total is 0.32517BTC, current value: $2373, invested: $600 over 1 year slowly.
($50 is about the cost of 2 pizzas per month)
with $100 per month: 0.65034BTC = $4747 and invested $1200.
this is not mentioning all the opportunities that you could buy the dips instead of buying at first day of each month and ignoring the fact that you could also trade a little and make more profit.
I want to take a loan next week and buy 1 bitcoin ,hold it for the next 6 months. The interest rate is 10% per a year for 12 months duration. Do you think Bitcoin will be at $18,000 by December 24?. So that considering the price now, I would have make double of my initial capital, pay the loan off and reinvest the profit.
Uh i'm not recommend it mate, especially you take a loan for something that is really gambling things. It's better you use your own money than take a loan for buy a bitcoin. Well i'm not sure the price can go reach that price on christmas this year, last year was like that but this year is different. 
I want to take a loan next week and buy 1 bitcoin ,hold it for the next 6 months. The interest rate is 10% per a year for 12 months duration. Do you think Bitcoin will be at $18,000 by December 24?. So that considering the price now, I would have make double of my initial capital, pay the loan off and reinvest the profit.
Investing in bitcoin alone is risky enough and you add that risk by borrowing money from the bank or anything to invest in bitcoin. I'm worried if your prediction is not right and you get a problem with the bank or with the institution that provided the loan. Bitcoin prices do have great potential and opportunity to grow again, but we do not know when big increases will happen again. So do it with high confidence and be prepared with all the risks. Good luck! 
DO NOT buy bitcoin with credit, that's all.
Considering the value of bitcoin right now it is not impossible to beat or to achieve again the value of 18,000$ again in the next december 24. People in that time will have the money to invest for sure and many people also hoping to increase the price of bitcoin by the end of the year.
Investing in bitcoin is a good Idea because the price already decrease at $7000 and after few months of holding bitcoin the price will become again very high. The price of 18,000 is possible to happen in the month of december but you do not need to take a loan.
Taking a loan to buy bitcoins is not an advisable thing to do because price movements can be unpredictable at times(especially if there aren't any news to base your decision on). For now, I think there is a chance for bitcoin to sit at the speculated price by Christmas eve but I strongly suggest that you invest only what you can afford to lose(money that is not from loan). That way, you can hold it for a longer period of time if ever btc price didn't reach your target selling price.
I want to take a loan next week and buy 1 bitcoin ,hold it for the next 6 months. The interest rate is 10% per a year for 12 months duration. Do you think Bitcoin will be at $18,000 by December 24?. So that considering the price now, I would have make double of my initial capital, pay the loan off and reinvest the profit.
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