Advancing my christmas bonus to buy bitcoin.

[Japinat]

Bitcoin is dumping and I hope you guys did not panic, I did not expect it to go this low as I was expecting Bitcoin to be bullish as Christmas approaches. On the other hand, I'm seeing this as an opportunity, and I already have my own plans, since this coming Christmas I'm expecting to receive a bonus and a 13th month pay, I would be aggressive with investing, I would use 3/4 of that to purchase Bitcoin. In fact I already have something in mind, I would not wait anymore for the release, I will try to borrow money in advance and pay a little interest once I receive my bonus and 13th month pay. I just could not let go of this opportunity as I have a feeling that anytime soon Bitcoin will start to recover.

What's your opinion, should I do it, or not yet? Or am I being too aggressive?

[Livingleged]

What's your opinion, should I do it, or not yet? Or am I being too aggressive?

Many people are against borrowing to buy bitcoin simply because of the fluctuations in price and if you’re not so lucky you may end up not making the profits you expect that’s if the price drops significantly, and that can cause  panic sell too. But since you have a plan already and the 13th month salary is assured alongside other end of the year bonuses, then I feel with the current price of bitcoin at 64k, you might be making a good buy. If I was in your shoes I will also do the same but I will probably be more patient until I receive those benefits and not borrow on any interest instead.

[Don Pedro Dinero]

What's your opinion, should I do it, or not yet? Or am I being too aggressive?

You’re being really short-sighted. If you were investing for the long term as you should, you wouldn’t even dream of borrowing money to buy a month early. If you’re thinking in terms of cycles, or even decades, borrowing money now to bring the purchase forward by a month is impulsive behaviour that will have virtually no effect on future returns. But what I fear is that, just as you have this impulsive urge to buy now, you’ll have the same urge to sell prematurely.