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Yeah, and this may make up that the market started to pump just after I got my loan.
This will most likely be the most important dip of my life, lol
Got my loan on the October 25th. Bitcoin increased by 10% over 11 days.
Now it's down 20% over 3 days
Where is the guy who was asking everyone a while back about getting a loan to buy bitcoin at 20k? Was that you?
I was the only one in the entire thread that said it was most likely a bad idea/ risky.
Don't know, maybe? You mean this one: #71281?
Seems like it, your comment there suggests it, haha
I was the only one in the entire thread that said it was most likely a bad idea/ risky.
I still think it was a great idea. Even better now that the market dropped.
I never planned to do a lump sum into the market at once anyway
If you asked me the question today, my answer would be different.
You mean now would be a good time to take out a loan? Why?
What is different between this
https://i.postimg.cc/B6j5k416/2022-11-09-212656-338x686-scrot.png
and this
https://i.postimg.cc/sfZ9JfrH/2022-11-09-212713-355x724-scrot.png
in terms of taking out a loan?
Around a 21% difference if my calculations are correct.
Well, I still have most of my loan so imo it doesn't matter that I took it out earlier.
In fact, now I already have access to it instead of waiting for approval etc.
Also, a month ago, you couldn't have known that the market would dip again. I think a 70% drawdown from ATH is already a good opportunity.
I never planned to do a lump sum into the market at once anyway
Actually, my initial post suggested that that was my plan:
How dumb is it to take out a credit to buy a big chunk of bitcoin soon-ish?
I just didn't want to miss the boat. But I didn't plan to put all at once.
Started FOMO accumulating all the way up to the top starting in Jan 21. Felt bad at first but this is kind of exciting.
It really is. I just exceeded my cash app daily transfer limit!
in 2020 it was 7k usd
ATH is at 69k usd i think
currently a third of ATH.
The next couple of weeks might give me a chance to make up for my foolish failure to accumulate btc before 2020