A recent study show that's 22% of bitcoin investors, are using borrowed money.
well guys this is a bad idea especially if you started recently with bitcoin, when it was already at 16 or 17 thousand and right now it's less than 14 thousand, you're probably really worried what's happening with the money that you borrowed, that you bought BTC at its peak and it's now going down.
Of course long term we have a reason to believe that bitcoin will be going up, but right now with all of the bad news and FUD and government's locking down everything, we might be looking into having a longer month of bitcoin staying around the fourteen thousand, and not really reaching the twenty thousand.
I expect that were not really going to see much of a growth of bitcoin until the end of january, possibly middle of february we might see a bit of movement and if we look at the chart,
we can see a downturn right now.
So this is a bearish market and we might be looking at breaking down support levels.
In the longer term i don't see that happening for too long because there will be news there will be developments and bitcoin will start going back again into the 17 000$ very quick .
I hope this was helpful and you guys learned something and if you like it please up vote me and let me know what you think about it in the comment section.
Thanks for reading!
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I remember hearing that people took out mortgages to buy bitcoin, and this was, as you said, when it was about 17k. I feel bad for them, but I also am at a loss to understand why someone would go to such extremes to invest in something which at the time and still isn't 100% going to stick around for the long-term!
I followed you since from reading this post I believe you have a very common sense view on the matter :).
thanks for sharing your thoughts but btc is going to stick around for a long time at least i believe so but
i will never but all of my eggs in one basket taking out mortgages to buy btc that is not something you should do
ChilL out. Blockchain is the FUTURE. It has ups and downs, but the trend will always be positive. Its freedom + technology. Keep it up!!!
no argument here
I know some people who did...some even sold their cars...I hope they get their money back soon!
it's really sad too hear that i remember the same thing happening with revshares people selling their stuff and getting loans only to lose money in the end
We only hope it will be happy ending for them:) and that bitcoin will hold for long;)