Crypto fever has gripped the Nation – rephrase – Almost all nations.
People everywhere are gripped by FOMO [Fear Of Missing Out] and want to jump on the bandwagon.
The problem is a lot of people are throwing caution to the wind and here some of the risky things people are doing to jump on the Bitcoin bandwagon:
Maxing out Credit Cards to Buy Bitcoin
According to consumer group LendEDU, a whopping 18% of people purchased their cryptocurrency with a credit card but most disturbing is that 22% had not paid of their card balances and 70% argue that the interest they’re paying on that credit card debt is worth the price of owning Bitcoin.
Even more concerning, 88% of the survey respondents say they plan to pay off their credit card by selling their Bitcoins.
These investors are ignoring one big thing: the significant risk that bitcoin could fall in price, which it has—dropping almost in half since its peak in December.
According to Time people are also:
Taking Out a Mortgages to Buy Bitcoin
And some are borrowing against their Bitcoin.
Full article – CLICK HERE
So does this mean Bitcoin is in a bubble?
There is a growing list of people that think so and many have predicted a Bitcoin crash in 2018.
Watch those predictions here: – Bitcoin Crash Predictions for 2018
Please leave your questions and comments below:
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