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Topic: I went bankrupt when I joined in cryptocurrency - page 13. (Read 2129 times)

member
Activity: 276
Merit: 10
First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

Your  story is quite one to tell!!! Honestly you have learnt a lesson that some enthusiasts are yet to learn and you learnt it within a very short time too.

This only further proves the volatility of the cryptosphere.... Fortunes are made and lost overnight... But one must not give up. It's a game and getting burnt is all a part of this game!
member
Activity: 728
Merit: 48
Yes i know what they feel, i think this is their mistake because you join in crypto only for profits and join in crypto when the price so high, and they are so panic with situation. By the way they can not bankrupt if they patience. They can still gain profits if wait it maybe 2 or 3 years. Crypto not make rich fast but if we patience can make us rich. Just sugges, dont think crypto is profits, but think crypto is long term investment for bestter future
full member
Activity: 2548
Merit: 217
News have a bad and good effect,  the bad news is the fake news creating by person want to people panic, the good news is creating to the people to make convince and remive stress.

Simple as need to learn here their mistakes do not relay your future to news or the someone always study well every step for to decdes,sorry for the loses but if the coins is in there's hand hold it because have an a right to retuern again their loses if the price of bitcoin jump again.
hero member
Activity: 1470
Merit: 555
dont be greedy
You should understand the risks first, if bitcoin is profitable, surely everyone will sell all their houses and buy BTC and do HODL for 1 month
if everyone does this, then who works? Who sells at the supermarket? who wants to be a doctor? if by playing BTC alone someone can get rich
now you have to get up, and forget the past. make your experience in Bitcoin a trigger for your awakening
sr. member
Activity: 2114
Merit: 268
Leading Crypto Sports Betting & Casino Platform
First before trading we should know that there are risks involved and that we must bear in mind,most rimes even when we think we are doing it right it still goes wrong profits making in crypto is unpredictable.There should be more experienced before trading
Some people only think short before trading, sad fact but it is true. That can make bad habit for bitcoin because unexperienced people will blame bitcoin itseld than learn their mistake. And others will know bitcoin is bad.
full member
Activity: 378
Merit: 101
It simply demonstrate have risky exchanging altcoins can be, if that individual got into bitcoins in the beginning of 2017, and simply clutch his bitcoins he would have been up with 5 or 6x at the present time, on the off chance that he got into bitcoins in August 2017 he would have been up with a 2 or 3 x, I can't generally observe when he purchased bitcoins, yet everybody who got into bitcoins over a year prior are in pleasant benefit zone. Purchasing and offering altcoins can be extremely perilous, I'm 80 or 90% into bitcoins and simply hold a predetermined number of altcoins.
jr. member
Activity: 364
Merit: 1
First before trading we should know that there are risks involved and that we must bear in mind,most rimes even when we think we are doing it right it still goes wrong profits making in crypto is unpredictable.There should be more experienced before trading
jr. member
Activity: 200
Merit: 1
This the worst case ever happened when you don't diversify an investment and put it all on crypto even you can't afford to lose it all. Investing with crypto is very risky because price fluctuates and no one predict when it is going to happen and by how much. When you are greed to gain profit, you ate emotional in doing things without knowing that it getting worsen.
hero member
Activity: 3024
Merit: 651
I bet there is a lot of story just the same as this one.

FOMO happened and next is sh1t.
Looking at how fast the growth bitcoin had last year, it will really make you think to jump in and try to get some thousands of dollars.
After getting in that mark, the greed also increases. They want more.
Looked at twitter accounts of famous people in the crypto world saying it will increase more to 50k USD.
Again greed came in and they dont sell.

Until sh1t happens again.

But just a question for those kind of people. Did you really invest all of your savings? That is where the wrong decision started.
legendary
Activity: 2380
Merit: 1343
The beauty and trouble with crypto is that anyone can put in as much or as little
as they want at any time. There are warnings posted on this forum which are
timeless, one of which is never invest what you cannot afford to loose

Its hard to hold a loss but in time the bitcoin holding will be a positive result.
As llng as you still hold you havent lost IMO.
copper member
Activity: 164
Merit: 1
trading, be it in bitcoin or aitcoin is very dynamic. so one should trade with minimal expectations, by so doing, it wont be difficult to move on when the market goes the other way round. The major problem with some crypto currency investors is that they rely so much on their investment, and so get cut up between lines when things dont go as planned.
member
Activity: 322
Merit: 10
The New Pharma-Centric Marketplace
Your story has surprised me very much since even in the midst of the excitement I do not remember what I would expect from a bitcoin growth of up to 50 thousand, at best I was hoping for growth to 25-30 thousand dollars. I also bought bitcoins and while in loss, but do not despair, as I'm waiting for growth in the near future. In addition, I do not invest in the last money, so I do not consider the situation tragic.
full member
Activity: 672
Merit: 100
This is a sad story, but it shows your failure to follow the trending. Trying to follow FOMO makes you prey for big fish in Crypto. Looking for short-term profit but want the safety is impossible, or rethink the reason you failed.
jr. member
Activity: 420
Merit: 2
Trading the cryptocurrency market is very risky, one has to gain a good level of experience, and also should understand that investing has to be with an amount affordable to loose.
copper member
Activity: 411
Merit: 1
The experience is awful as i have experienced it too! The only difference is that I am humble and learning everyday from my mistakes and you should do the same, learn everyday to avoid crazy mistakes.
member
Activity: 336
Merit: 10
The story is sad and at the same time informative . You don't have to get emotional. I, too, was too greedy to take the profits. But I look at it positively, and I learned from it. I'll be smarter next time.
hero member
Activity: 826
Merit: 523

The market of cryptocurrency is undergoing a sluggish situation nowadays as the prices still fall. However, if you want to trade in cryptos and gain good profits, you should  educate yourself about cryptos and the technology behind them firstly, then choose a good token depending on the future objectives of the related project so that you can be in the safe zone and not to go bankrupt.






full member
Activity: 462
Merit: 104
in crypto 1st we have to control our emotion.and then we need to learn about crypto currency.
crypto investment is very simple but earning is so tough.

All such smart, give wise advice, but they themselves were in the same position as the author of the topic. We all made bets on the growth of the cryptocurrency and all fell into losses. Let's just say to the author: you're not the only one, we're all fools!
full member
Activity: 323
Merit: 100
I think trading is in need of knowledge about cryptocurrency and also experience. Because trade is full of risks. You can't start it without enough knowledge. You also have to have extensive experience. It depends on you. So keep working hard and finding the right strategy.
full member
Activity: 826
Merit: 104
in crypto 1st we have to control our emotion.and then we need to learn about crypto currency.
crypto investment is very simple but earning is so tough.
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