There was a lot of news of the price of bitcoin dropping to about $65,000 or say which has been pretty sudden considering it was at six figures not too long ago. This is creating panic as a lot of people are trying to dump their bitcoins. At the same time, there are those who see it as an advantage to but more with the assumption it will go back up. That is where some of the crazy advice started to come out as there were people literally telling others to say take out loans to buy one bitcoin now where if it goes back to six figures then that would be easy profits for you.
Aside from the risk where it can potentially just drop down further, it’s surprising that people don’t actually consider all expenses of a loan in general. In these cases, that usually means having to pay ridiculous interest rates where you could end up making no money when it is all said and done. Imagine holding on to it where eventually it does go to six figures only for you to owe the financial intuition more. Don’t get greedy and make silly decisions because there is no reset button like a video game.