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.

[bitbollo]

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?

It has no sense a rush in investing like a classic FOMO. 
Once you get your bonus btc price has no guarantee and actually it could be like "catch a falling knife with your hand".

Considering you're going to pay some interest, I wouldn't see as a real advantage using this strategy.
Plus price can just continue to dump and if you haven't enough cash/liquidity and in case you will need some extra expense... well you need to use your coins...

It can be an aggressive strategy, but would you expect an impressive comback in the meanwhile?  I doubt about this, considering the short time frame I would not see the standard "asymetric" bet that you have once buy bitcoin.

[Alvin_talk]

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.

Well, if it is a no interest loan, maybe from a friend I don't see a problem in this. But if it is an interest loan I think you should retract from such idea. Another thing that should make you think twice about this loan is that nothing is certain (You can't predict the future). This not a bad wish for you but something may go wrong in your work place and the bonus you are expecting may not come, in such case you may end up liquidating your investment at a loss to pay up for the loan. If I were in your shoes I will just wait patiently for the bonus to come before I invest, there is no need for FOMO here.

[Sparkplug90]

This decision is not one I would take without thinking it through. There are three things I would consider before taking action if I was in your shoes. First is the potential benefit of investing now rather than later if you decide investing at all since you hinted at the potential appreciation during Christmas period but that is also the same period your 13th month pay and bonus comes in.
Secondly is the incurred cost incase it goes sideways, that is making sure the transaction fees and any other borrowing charges are taken into account in your calculations and lastly the potential downside if Bitcoin price continues to fall even during December if people dump to spend, or/and if the 13th month pay and bonus does not pan out as expected but the loan repayment obligations remain to attend to. To sum it up, as you prepare for the potential gains from your investment plan, I would make sure to consider the risks listed  above and then make sure I've prepared for it in case it doesn't go as expected

[Abdulzuruku01]

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

Borrowing money to purchase a bitcoin in my opinion, is a big red flag. Because what I understand from your write up you are seeing this dip as an opportunity to buy because you believe it can recover very soon, which shows you are fear of missing out that chance. I don't consider this a good strategy because I don't think anyone can predict bitcoin price for a short term and using debt to invest in bitcoin or any  other cryptocurrency is a big risk. So to avoid being in debt if bitcoin didn't recover as you are expecting, I would advise you should wait for your bonus to drop and use it to buy bitcoin, everytime is a good chance to invest in bitcoin you can start small using DCA.

[Saif Khan officials]

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?

    Honestly, I wouldn’t borrow money to buy Bitcoin. A market dip can be an opportunity, but it doesn’t guarantee an immediate recovery. If you believe in Bitcoin long term, use a portion of your bonus and buy gradually instead of putting 3/4 in at once. The biggest opportunity is not just buying at a low price; it’s being able to hold without financial pressure if the market drops further. Never let FOMO make your financial decisions.