Advancing my christmas bonus to buy bitcoin.

[TheUltraElite]

Price has been going down and its touched 65k USD which is a tasty price to enter at now and I can guess the excitement to buy in the minds of most traders. I usually consider against taking a loan and I would still follow that. But if you can get an advance bonus then go forward with it. Just make sure you have enough funds in hand in case any emergency occurs and you have enough balance to cover most of the monthly costs.

Because once it does dump, you dont know when it is going to come back up again and hence you have to plan that in advance.

[Itz-prisigold]

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

I don know why, but I will always kick against borrowing money to buy Bitcoin no matter how attractive the price is. The problem with borrowing is that it puts this unnecessary pressure on you, it’s very hard to have peace of mind when you’re on debt, most especially when you are relying on funds that you are yet to receive to pay them back.

Yeah it’s fine that you may be getting your Christmas bonus, but do you really know what can happen in the next minute? Things can happen that you didn't expect and you could find yourself needing that particular money for something more important. At the end, you’ll now be looking for excuses you could give, so that the person who borrowed you money could extend it.

That's why whatever you do, don’t ever forget to build backup funds. In situations like this, if you already have funds set aside for this type of opportunities, then you’ll have no reason to be thinking about loan. Personally, I’ll never put myself under financial pressure just because Bitcoin is cheaper now.

[Dr.Bitcoin_Strange]

Since there's already a source for you to repay the loan from, there's no problem but a no interest loan is really better off, I don't advice taking an interest loan to invest, it's kinda impulsive because you can not be so sure that price will immediately start pumping anytime soon, it's possible that Bitcoin is going to continue bearish for the whole of this month and next month. So, it's best to just be patient until you get the money you want, the  you invest on Bitcoin, since you are holding for long term, you will still make profit.

[Alonso_]

Personally I don’t think anything is wrong with borrowing money to buy bitcoin if you’re completely sure that you’re going to pay back the loan, because if you don’t pay back the loans you end up selling your bitcoin to pay for the loan, everyone would definitely want to take the opportunity of buying more bitcoin on the cheaper price, because of the bearish season there are people who will definitely panic, and there are also people who will want to take the opportunity to buy more, but you can only buy bitcoin when you have the money to buy bitcoin, so since you have a bonus coming this December from your job, then you can borrow and buy bitcoin then you can pay back latar when your bonus comes.

[hmbdofficial]

Just as everyone here on the replies have said they are against borrowing to purchase bitcoin. I also stand on that ground. If I get you clearly you’re just having a FOMU, this is right as a human we all want to take advantage of opportunities that comes our way, but we also need to take calculated risk opportunities. The things here is that you could borrow the money and buy the bitcoin and the price still goes down beyond your expectations, now if your plan isn’t for a long time storage you’ll have a problem and start to panic and sell at a lower price that you even bought just to repay back your loan. Honestly I feel in this your situation you could only risk taking a loan if it’s a non interest loan, probably from a family member or friend if you’re really interested in this bearish buy. But interest loan is a no go area for me most especially for investment like bitcoin.

[aoluain]

Bitcoin is dumping and I hope you guys did not panic, yet?

I am paniking big time at the moment, I am trying to get as much FIAT ATM to convert to Bitcoin.

Is there a different type of panic at this stage when all the weak hands have already sold I wonder?

Personally I don’t think anything is wrong with borrowing money to buy bitcoin...

This is something I have done in the past before the lead up to a halving but you need the right
conviction, a long term outlook and not to suffer from panic and worry.

My thinking was (which paid off) The increase in Bitcoins value will far outweigh the interest paid
on any loan in the long run. If things become tough and I cannot pay back the loan I just sell some
Bitcoin at that point to pay it  (which I didnt have to do)

Obviously everyone would be advised to do their own reasearch before taking that approach.

[Botnake]

Because once it does dump, you dont know when it is going to come back up again and hence you have to plan that in advance.

If he is referring to short term investment that is risky, but if he is going for long term then it's a good decision. It depends on the person if they will borrow money or not, after all it's our decision that matters since we carry the risk. And since he already has funds coming but they have not been released yet, the current price opportunity is not something we can just ignore if we are looking for a good entry price for long term. It's already down more than 50% from its ATH, so I think it's a good time to jump in.

[Zlantann]

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

It was this post that made me check the price of Bitcoin. I didn't know it had dropped to the current price. There is no need to check the price always if you are using DCA. I don't criticize or discourage people from borrowing money to buy Bitcoin if they have a good plan. So, you need to be sure that you have enough money to repay the loan and interest since Bitcoin is a long-term asset. Anyway, I would suggest that you use the money at your disposal to buy instead of buying in a panic.

[Stormisover]

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.

I understood your sentiment here while you are not comfortable with the Fomo, most people will fall being a victim of being trapped with this current market opportunity, it looks good to take advantage of but it shouldn't just be to the detriment of your own peace of mind by taken loan to payback from money that you are not sure of, though if the loan terms and conditions are good and of course he has other good and various plans of repaying without touching his investment then is okay by me.

[Freeveto]

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?

Using your bonus to buy Bitcoin is a good idea, but taking a loan to buy more is the wrong idea, I see here, because you never know the exact time Bitcoin price will go back to its all-time high, and the loan you take will be serviced by the money you are earning, which will automatically affect your daily expenses, and if some emergency comes, you will be under pressure, which can also force you to find alternatives, and going for more loans will not be the option; you will have to sell your Bitcoin to attend to your emergency, and if that happens, it has defeated the aim of your investment because you might even sell at a loss. This is the reason why taking a loan is not always good for investing in Bitcoin or any crypto project because the market is volatile.

[Faisal2202]

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.

Then you made a mistake because BTC has never stayed bullish when Christmas approaches. People spend a lot of money at this time of the year, buying gifts, and a lot of companies give discounts and other offers. That's why no one hesitates to buy, even if they don't on normal days.

The environment and joy make them excited, so they spend on themselves and their loved ones too. That's why I believe we should not expect BTC to be bullish before Christmas.

If you see the previous data, you will find that November and December have never been bullish, especially in bear markets. I checked the price returns from November 15 to December 25 over the past five years, and in every year we saw a downtrend, except in 2023, when there was an 8% to 12% pump in both months. Besides that, in 2024, due to the bull run, there was a 37% pump in the last 15 days of November alone. But now we are seeing the same kind of dump, though who knows, maybe we will see a reversal.

[boyptc]

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

Don't do the loan and it is sufficient that you'll have the 3/4 of your bonus for buying. The purpose of investing is to make you have a better financial standing and not an outstanding obligation and debt.

And as for the holidays, don't forget about to enjoy it with the hard earned money. So if the 1/4 of your bonus is enough for that, good.

We can delay the gratitude and happiness but don't forget to weigh which is better. We always tell to buy the dip but if it will only cause you more debt and trouble, that's not advisable and ideal.

[Kelvinid]

I understand the point that you are just trying to take advantage of the current market dump and maximize your purchase as much as you can. But let's be realistic here, investing in bitcoin at the moment does not guarantee that you will make significant profits in the next week or next months, but the interest of your borrowed money will surely grow and will even grow higher if you cannot pay it once you receive your christmas bonus and 13th month pay as there are unforeseen expenses that may arise before christmas.

I suggest just hold on to your plan as well as your emotions. Buy when you already have your money on hand, regardless if the price of bitcoin starts to pump or still continuously dumping. You are here for long term, right? So no worries for that.

[Charles-Tim]

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?

There is no little interest loan. The interests are high. Just make the right calculation and see if the loan is worth it or not. I will advice you not to go for any loan but wait until you are given the bonus in December than to be in rush.

What tells you bitcoin will not even still be at the price it is now in December? You can try your luck but I can not do it at all. I will prefer to wait for the bonus.

[Alvin_talk]

Personally I don’t think anything is wrong with borrowing money to buy bitcoin if you’re completely sure that you’re going to pay back the loan, because if you don’t pay back the loans you end up selling your bitcoin to pay for the loan

You should probably have a rethink about your position. You are putting it as if you don't know Bitcoin price may decline further by December, just the same way there is a probability it may rise by then. If the former happens and he is forced to liquidates the btc in order to pay back the loan  (Maybe the company delayed the bonus till God knows when), then the btc he liquidated won't even be enough to pay up his debt because he will sell at a loss. That's actually a bad financial situation to find yourself and if you don't have an emergency fund to handle the situation then you're screwed.

[Rockstarguy]

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?

Many expected the Bitcoin price to increase by the end of this year, but Bitcoin is very unpredictable. For those who understand Bitcoin, they shouldn't be surprised about it. Borrowing money to buy Bitcoin is not a good idea.

I know you are expecting some money that you can use to recover the money you borrowed, but Bitcoin investment is not something you need to rush into or be too zealous about. You just have to do things right and buy Bitcoin only when you can afford it. Borrowing is never an option for you to buy Bitcoin; instead, use the amount you can afford to lose and the available funds.

[Frankolala]

What if you borrow money in advance and buy bitcoin and the price continues to dip. You will be affected emotionally. Just relax and wait till you receive your bonus and buy that time. You might be lucky that the price might be lower than this. The market is unpredictable and you don't need to buy out of FOMO. I also have plans of buying more bitcoin in December. It seems that the upcoming holiday is making investors to take little profit.

[retreat]

It's good if you have plans to accumulate more during the dip. But you also need to think about your finances. Even though you get bonuses and a 13th-month pay, you should reconsider, even if your money seems enough for you to accumulate more. You need to make sure you have enough money set aside for your other needs and unexpected expenses - since at the end of this year, your spending might be more than it should be.

It's better to calculate your expenses first, set aside some money for savings, and some for emergencies. Only then use what's left for accumulation. That way, you can take advantage of the dip without putting too much pressure on yourself.

Most people are too FOMOed when they see prices dropping, especially when they think it's a good opportunity to accumulate at lower prices, but they forget to consider their financial situation which makes them have to sell their Bitcoin at a loss.

[Promocodeudo]

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?

Man don't invest with such mindset, Bitcoin is a long-term investment and anyone investment in Bitcoin should be futuristic, Bitcoin can recover soon no doubt but that should not give you the confidence to borrow to invest, I'm very sure that you're already aware that if you eventually borrow to invest at this time, is either it drop a bit further or it will pump, although it is your decision to borrow, but I don't support that you should borrow to invest cause what if your expectations didn't come as planned, if I'm allowed to give my opinion on this, I will say it is better for you to invest with your discretionary income, they amount that won't get you pressured if plans doesn't go your way, although this is time to accumulate as much as you can but it should be done wisely.

[Mr. Magkaisa]

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?

We have the 13th month , the christmas bonus and the 14th month so it is good to call the 13th month for the bitcoin investment but make sure that the dump will end soon before getting some.
The market is not healthy now and we are still waiting for the comeback coz the market are sliding.  There is not question to ask nor doubt that bitcoin will rise again, theres no other way after sliding but to go up.