Bought BTC at $41k

[Anonymous No.25811026]

Good evening /biz/, I unironically think I might end it depending on tonight's outcome. Around a week ago I took out a high interest loan (~33% apr, I have poor credit) to buy into the new bitcoin craze. I lost about $850 though frequent, impulsive day-trading around 1/5 of my loan through Robinhood (free-ish trades unlike coinbank) but reassured myself that the $100k price target would render this negligible. On Friday, after seeing BTC successfully pass $40k, I threw the full $45k in for a little over one share of BTC. I was expecting a return of over $100k but so far I'm losing money fast. I keep selling and buying back in but each time I lose ridiculous amounts of money (presumably because the principle expenditure for one share of bitcoins is so large). Is the value going to drop significantly or can I expect my upward momentum to continue?

Apologies in advance if this is a stupid question, I'm very new to this process and I convinced my wife that this would yield large returns. I've lost over $10k and I have been keeping to myself. I feel like I'm dreaming

[Anonymous No.25811048]

33% lmfao. Quit Larping you faggot.

[Anonymous No.25811082]

>>25811026
>coinbank
This is what gave it away, 6/10

[Anonymous No.25811098]

>>25811026
This b8 is 9/10. Just wait until the 15th, anon.

[Anonymous No.25811100]

>>25811048
No larp. Got it though lending club

[Anonymous No.25811101]

Hilarious

[Anonymous No.25811173]

>>25811026
Browncafe??

[Anonymous No.25811175]

>>25811026
Just forget about your money and bitcoin for a year, it literally can't go tits up

[Anonymous No.25811275]

>>25811175
this is what I was hoping to hear, thank you. Do you have a prediction for how high it'll be? Roughly? I'm stuck with a shit loan because I have a poor D/E ratio and a history of defaulting. I was hoping for quicker returns

[Anonymous No.25811414]

>>25811275
>can't go tits up
This is a meme answer OP

[Anonymous No.25811478]

How does waiting until 2023 sounds like?

[Anonymous No.25811538]

>>25811275
Some are saying 200k, I'll go for 100k to be on the safe side. I thought about selling myself earlier but fuck it. I believe in crypto and btc in the long term and have decided to not sell under 100k no matter how far it dumps.
Uninstalled the apps I used to watch the price every second, moving my money into my own personal encrypted wallet, and I'll forget about btc for a year or so

[Anonymous No.25811551]

>>25811026
>I threw the full $45k in for a little over one share of BTC
this is very good anon, you're a huge faggot but i'm proud of you in a way

[Anonymous No.25811564]

Just stop buying and selling and WAIT. WAITING is the key

[Anonymous No.25811580]

>>25811478
I was hoping to take my profits and pay off my loan in a month. I made ~$300 in like an hour, it was incredible. Then the price dipped and I sold, before buying back in at the first sign of recovery. I haven't explained what's happening to my wife and I'm terrified that she'll catch wind of it

[Anonymous No.25811643]

> 1 share of bitcoin

You deserve to lose it all.

[Anonymous No.25812246]

>>25811026
In all honesty anon, I think you should rethink this. Whatever investment it may be, it is never a good idea to take out a loan (especially high interest for that matter) to invest in stock or crypto. Cryptocurrency is one of the most volatile assets you can invest in short term. We see swings of around 10% on a daily basis. Most posters here may try to shill you coins, pumps, and fuds, but most people here are larping and have no idea what they are talking about. Sometimes you make it big, sometimes you lose everything. That's just the way it is.
Now I'm no financial advisor, but I don't think the best way for you to erase your debt is to buy into bitcoin right now. Bitcoin is an asset that shows a lot of positive growth over the long term, but can be unreliable for day trading if you want to make a profit. It will also be harder to obtain 1 whole bitcoin as time goes on, but I think that's right now the least of your worries, as the coin's growth is not guaranteed to out-do the interest on your loan.
That said, I personally recommend that you sell your bitcoin and start doing everything you can to pay off that debt. Follow Dave Ramsey's 7 baby steps (https://www.daveramsey.com/dave-ramsey-7-baby-steps).). If possible, get a job. Start living on beans and rice, and build wealth gradually. When you have no debt, and have money you can afford to lose, come on back to /biz/ and fool around.

[Anonymous No.25812317]

>>25811026
>shares of bitcoin

Personally, I think you should fucking kill yourself you literal retard.

[Anonymous No.25812380]

>>25812246
i took subsidized student loans and dumped it into crypto. now im hoping the loans get erased because it will literally be free profit

[Anonymous No.25812537]

>>25812246
I'm not sure if you're still here but thanks for your response fren. I was shitposting, and would never put loaned money into the most volatile asset class on earth, but well-written posts like this make me think there's more to BTC than blind, over-hyped optimism. I might buy in after I see positive momentum in a week, hopefully after some kind of support is reached and weak hands have been shaken out.

[Anonymous No.25812546]

>>25812380
Damn, that's brave. Not the best idea, but I admire your guts. I wouldn't bank on student loan forgiveness though; Biden is already rolling back his initial proposals on it. I hope that your profits overcome your debt and interest regardless anon.

[Anonymous No.25812596]

>>25812380
>loans get erased
kek imagine falling for sleepy joe
(((banks))) are biden's masters

[Anonymous No.25812645]

>>25812537
THANK GOD you were Larping. One less thing I have to worry about when I think of /biz/.
I pray that this recent dip was just a bear trap. If we can get past the 15th and related events this month, the world of cryptocurrency will change forever. God speed anon.

[Anonymous No.25812671]

>>25812546
that's fine i am green and have been waiting for the payments to resume before paying them off since my savings cover them now.
>>25812596
i vote red senpai i would never vote that shit party in

[Anonymous No.25812696]

>>25811026
Your grammar and knowledge of financial terms is too good for being a loser.

But nice fake story

[Anonymous No.25812742]

>>25811026
Just relax, this is a minor correction, the whole crypto space goes through these days like 3 times a month.. more. You learn to buy more on days like this. And dont ever buy the top again you sulilly cunt let alone take out a loan for crypto, you fucken crazy. But hold and sell around october. Dont be a greedy little fucker or you will lose

[Anonymous No.25813804]

>>25811026
Give it a week fool.

[Anonymous No.25814059]

>>25811026
You mean you're buying high and selling low? How can that not work? Its the /biz/ way

[Anonymous No.25814138]

>>25812742

[Anonymous No.25814261]

>>25811026
I hope you like anal sex

[Anonymous No.25814339]

>>25811026
Switch that BTC into long SPY calls that are slightly out of the money. Sell in three months or so. Save yourself.

[Anonymous No.25814342]

>>25812246
Good post though

[Anonymous No.25814350]

>>25811026
Sell it now and start pimping your wife out.

[Anonymous No.25814395]

>>25811026
Proof or LARP faggot

[Anonymous No.25814567]

All out rn and into Hyunda_ and a_ple tomorrow at market open. Don’t thank just pay forward to another that made a mistake

[Anonymous No.25814611]

gr8 b8 m8 i r8 8/8

[Anonymous No.25815153]

>>25811026
A very nice well constructed larp consolidated all of our retarded findings from normie cryptospace on twitter