Is This A Great Time To Take A Personal Loan For Crypto?

Should You Take Out A Loan?

You could potential make billions of dollars? You could go bankrupt or slightly into debt. What would be the best bet in the market right now?

I am not a financial advisor nor do I claim to be one. I am not physic when it comes to crypto, but I have always had a great feeling in regards to crypto exploding with the only fear being that I didn't have enough money in it to really make a killing when it does.

So, should you dive in and refinance the Family's Estate and go all in? Hold your horses on the all in. I know what is happening in the markets looks really awesome right now, but you should be very cautious. Wall Street Investors, Financial Institutions are out to make millions.

You should be aware that once they own enough Bitcoin and other crypto they could potentially dump it all and cash out on millions sending the price of Bitcoin lower than we have seen since 2017.

Now even if the major players cause a Crypto Crash I do believe it will recover and we will continue to set record highs making history! I really don't see anyone completely folding in the crypto market. I see people taking a profit at one price and dumping back in at lower prices only to increase holdings.

I firmly believe that within five years Bitcoin will be over 300k. I have said that plenty of times and until the day in the not so far future when people are paying over 300k for Bitcoin I will say, "See, I told you." I know a lot of people say that within 3 years on this current trend we will see prices over one million dollars.

Could Bitcoin Hit $1,000,000.00 USD

Yes, Bitcoin could surpass $1 Million Dollars in the next 3 years if the current trend continues at the rate it has. This will also greatly impact a lot of other crypto currencies due to the fact a lot of people live by the model "Don't keep all your eggs in one basket"

I am strongly diversified when it comes to my crypto assets. I know I am vested in some crypto's that would end my financial struggles of trying to buy food for my kids or give them a decent Christmas, Birthday or anything they want.

I also have a decent amount of holdings that could potentially sky rocket in the short term with a decent return that would lessen the stress for a good while. I look at Bitcoin as that wine glass on top of a wine tower.

We have all these investors pouring into the top glass and once it is gets full it starts pouring into the cups below aka the other currencies. Those other currencies are dirt cheap compared to Bitcoin. I have been getting into these cryptos that are at the very bottom.

The ones that people are really just starting to learn about. I know the history and nature of society. No matter what we have in life we will always be searching for something better. Another improvement or another modification that we can add to slightly increase the user's experience.

Crypto can be compared to any other industry in the world that is currently spreading like wildfire. Crypto will be forever evolving with new currencies and improvements upon current crypto's. Just like Motorcycles? I always thought they had reached their max potential with the current features they have. Now they have corner lights that come on when Motorcycles lean goin around a curve.

Also like how Bitcoin was the first of it's own nature, and then Bitcoin had what is now known as a Hard Fork into Bitcoin Cash which follows a remarkably similar path as it's predecessor. That reason alone makes believe that within three years we will see Bitcoin Cash at Bitcoins current level.

That is speculation on my part. However with every single thing that I have seen from the social behavior, actual performance and the countless hours of research I have done I see the long term potential of crypto and I know that in order to evolve our technology to a whole new level everyone will wind up being forced to accept crypto just as they was at one point forced to accept paper and coin currencies.

Don't get me wrong I'm not implying that people are not allowed to Barter or Trade anymore, I know plenty of people that make a decent living doing so. The power that the blockchain holds in terms of transferring information on consensus protocols that allow for secure transactions and data platforms.

One day all of our apps that we all so greatly adore will be wrote on top of one blockchain or another. I am betting on HOT Holochain to be dominant in the long term. I am still vested in competitors because I know their will always be a second, third and so on best when it comes to that market. Kind of similar to Apple, Google and Samsung but a whole lot larger than that...

Crypto currency is currently only at a small fraction of the potential market that is out their. One day Mastercard and Visa will convert to the blockchain in the future or they will eventually become obsolete and serve no purpose. I think we all know for sure that they will not close their doors before they make the transition into crypto.

My Final Thoughts

Crypto can be rather scary place to get involved in. You should be aware of the risk that you are taking. You shouldn't risk any assets that you own whether monetary or physical on any thing, nothing in life is a sure thing. Other than life, death and the steps in between.

I know back in 2017 people bought in at the height of Bitcoin only to suffer major losses when they folded during the price correction. Bitcoin back then didn't have enough support in order to maintain the highs back then. Now days if the peak interest continues than Bitcoin will continue to soar.

So, be prepared if you are going be one of the masses dumping money into Bitcoin that you may see a steep price retreat upwards of 30% and than the market rebound higher. I wouldn't advise anyone to refinance or mortgage their home to invest, but hey if I owned a home right this minute to be 100% honest I would mortgage it and invest in wide variety of crypto with bitcoin being 35% of that investment.

Please whatever you do be careful and keep in mind that Bitcoin was at a low price in march of this year when the stock market took a pandemic loss and Bitcoin amazingly jumps in value and continues to rally as many major investors come out publicly in support of Crypto.

Their is wide speculation that Wall Street style investors may be playing a pump and dump which would hurt the value of Bitcoin and other crypto's for a small period of time. I still am having a hard time seeing it actually happen, but I can't rule it out either at the risk of it being true.

We really don't need the support of Wall Street in order to dominate Wall Street in the long term. Long Live Bitcoin! lol

Thank You for reading, God Bless You and stay healthy!