Bitcoin Forum

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 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.

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.

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.

DO NOT buy bitcoin with credit, that's all.

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!

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.

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.

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. ;)

This. Definitely deserves a Merit.

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.

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

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.

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.

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.

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.

I do believe that bitcoin will make it more than $18,000 but I wouldn't take off and loan just to buy bitcoin. I'd rather sell unnecessary things that I have such as gadgets for it.
Think again if you want to take a loan and risk it since it's still unknown when bitcoin will reach the peak again. We are optimistic but we are not on your shoes on this matter. I really want to tell people to buy bitcoin but not by taking a loan for it.

but if I think at the end of the year bitcoin prices that can reach the value at $ 18,000 because I'm sure that bitcoin can increase as at the end of last year 2017

No one can know it, as bitcoin is not a stock and is very speculative, it can be at every price you can't imagine on christmas eve, so getting loan for investing in btc with this prediction is not wise.

lol 10% in a single year?? how is it possible? here in my bank, most loans are offered with no less than 40% of interest in a single year, but it goes lower if you take it for a few years.
Just do it, you can easily make more than a ten percent

Not sure what country you are from, but 40% interest on high value dollar loans is mind boggling. The interest rate that my bank offers me on a €10,000 loan is 5%. Other financial services offer even lower rates.

The 40% interest rates you are talking about apply to quick loan business looking to take advantage of people who are short of a few hundred bucks. It's a disgusting way of doing business, but no one forces you to use them.

The general idea of loans is that the higher the amount is, the lower the interest rate. There is no way whatever properly licensed financial service will charge 40% interest on +$5000 loans.

only people who have high ambition and short thinking will do this kind of thing.

This year-end Bitcoin price is expected to reach 40000 dollars and even more this is analyst analysis on bitcoin price estimation hopefully we can see moon prices hereafter

That´s some crazy expensives pizzas :D

Why decided making a loan to purchase and invest bitcoin. Invest any amount at least what you have so this claim is not really certain of what price of bitcoin can reach this year.  More predictions of bitcoin value has been said and spreading always but no one is certain actually so let's see how much this december.

Bitcoin could be 18k then, 2k, or 56k. You won't know and getting a loan to gamble on an investment is the riskiest thing you could do. Please get a job, work hard, and don't ever consider this idea again because it is the worst thing anybody can do when it comes to investing.

Yeah, I do agree to not loan money just to purchase bitcoin which is not even certain that would pay off in an exact time you need it to be; you are doubling your risk! I would stick to finding a percent on your allowance to invest in bitcoin and hold them off for most time possible.
In my own opinion, it is possible for bitcoin to hit that before the year ends - it happened last year and it can happen again, hopefully.

I would say it's not doubling your risk, but taking a stupid risk.

Just make a plan with the current income and buy BTC according to that, or according to the amounts you would pay back the loan with. Then you are in the safe. Nobody knows how long the next bull-run will take to form, it might be next week, or a year from now, who knows. We can draw fancy lines on graphs but with bitcoin they are mostly wrong.

There is nothing to lose if we believe that bitcoin can hit this price on Christmas eve, I know bitcoin can go higher than $20k level this year. I believe on this and I will keep on working for bitcoin, this will be paid off in the future. But of course, its not a good idea to loan a money and invest on bitcoin, you better save the money that you can afford to lose.

I still think the idea of taking a loan is very wrong. This is the grave mistake that most investors did. You need to chill, read and research more on cryptocurrency before you take an action you will forever regret. There are some people who have taken this same action and are still paying for it because they took loan and invested in cryptocurrency especially bitcoin when the price was $20,000. Now the price is on $7k +, take a good look at their loss.

Certainly and will be more than the marked.  The ratio takes the value to cross minimum $30K by December. 2018 is going to be a remarkable year for crypto currencies. I have stated the ratio in my earlier posts derived from coinmarketcap.com. The value would start growing in mid of July 2018. 2017 started with $2000 and 2018 started with minimum $4000. We had $21K hit in December 2017,  so just imagine, what would be the bitcoin price in December 2018. Just miltiple 4 times minimum. At least we would see $30K this year end during X-Mas eve. 

this is a bad move you are making, in November the price of bitcoin may well be lower than the current price. it is possible that in November the price of bitcoin is $ 6000. due to the pressure of central banks and governments, the price is falling a lot and nobody knows if this year will end this pressure, so you should not make loans to buy bitcoin or altcoins. collect money from other sources and buy bitcoins

More than you think and prediction about that price.
http://i67.tinypic.com/2vrv8dg.png
Every year bitcoin is getting higher. As you can see the bitcoin price reach the highest peak of the price in the near month of the year. And expect this year it will surpass the highest peak last year.

This is not a wise decision to make a loan to buy bitcoin as we don't know if you will get profits. We had encountered a bearish market as the price is getting hard to reach at $10k and no assurance that this will make a good rally to hit $18k. Last year price could not a guarantee that it will duplicate for this year as we had different scenario to consider. Invest only to the amount that you can afford to lose.

This is of course not great to do. Well there is no doubt in bitcoin to increase in the coming days but the idea of investing into bitcoin by taking loan is bit ridiculous. It could prove dangerous if you end up in some panic selling. Loans are always having some useless terms and conditions. I will not suggest anyone taking loan from banks, rather go for borrowing from your family or friends, at least they don’t put hard terms.

As others already said, buying bitcoins using a loan is extremely risky and should never be done. Do not invest more than you can afford to lose. As for $18k in December 2018, I really doubt that it will happen. We are in a full-blown cryptowinter similar to 2014-2016. It may take many months to recover even to $10k.