Topic: I went bankrupt when I joined in cryptocurrency - page 16. (Read 2138 times)
That is why I never recommend spending too much money into investing crypto currencies. You always have a very high risk of losing it all in a fraction of a second. Play wisely with the game and you will be much happier.
I want to believe there are quite a lit of persons too that did fall victim of this mighty dip of this 2018. The story is very understandable. My take and stand is to just keep the Hodl till it is really worth the sell. The person should try and diversify into something else for now pending when the market revives itself.
In this story, I did not find out if this guy sold his bitcoins and altcoins for a given time to himself at a loss, or not. If not, then all situation can be remediable, however, it is possible that it will take a long time to wait for the price increase in the market. But there's nothing you can do about it. You can not buy a crypto currency if it has been growing in price for a long time. Before you invest heavily in the crypto currency, you need to study the crypto currency market well.
He either sold at a loss or is still holding. It seems that he switched to altcoins and when they were going down he tried to make up for the losses by actively trading. This again proved to be the wrong choice.
To sum up, he went in when BTC was high pushed by greed and rumors. When the price started to fall he didn't sell (no stop loss). Later on he switched to altcoins and we know that they are even more volatile than BTC. Then he tried trading with no prior experience and of course got eaten by a bigger fish. Sad story, but there are hundreds of people in the same situation.
This story once again confirms how dangerous and unpredictable cryptocurrency is. Someone earned millions on it, and someone lost all their money. Hence, there are opinions that the cryptocurrency is a Scam. Just someone well thought out his strategy, and someone just chasing big money. We must be more careful and constantly get new knowledge about crypto. Then everything will be fine.
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?
This is a very sad story and it is very common, he thought that he could make money in a market that was reaching its peak and that is the worst moment to enter in any market, he should have waited for the crash to happen and if he did that he could have all the time in the world to pick the right coin, but he was greedy and unfortunately for him now he's paying the consequences. "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?
Most people say that crypto can be very useful, but to get that profit is needed knowledge about crypto, because to get profit is not easy and there is also no guarantee to always get profit from crypto.
I don’t agree with the idea of buying Bitcoin just for investment or even to be rich, that's not what the Bitcoin made for it.
If this story is real, the owner should start selling if it is a significant loss. "MAX loss is a loss of $ 13,000 per bitcoin," or leaving the market. The price will rise in the future.
I hope that such stories are a lesson, there is no fast rich without great risk. "Do not buy when the price is at its highest."
If this story is real, the owner should start selling if it is a significant loss. "MAX loss is a loss of $ 13,000 per bitcoin," or leaving the market. The price will rise in the future.
I hope that such stories are a lesson, there is no fast rich without great risk. "Do not buy when the price is at its highest."
I do agree to the part of not buying when the price is at it's highest but investments alone on Bitcoin is okay if you are ready to wait out the storm of the bear market. I would have been richer when I started in 2015 but I stopped and am regretting it now because then I was determined to be buying 0.05 btc monthly
In this story, I did not find out if this guy sold his bitcoins and altcoins for a given time to himself at a loss, or not. If not, then all situation can be remediable, however, it is possible that it will take a long time to wait for the price increase in the market. But there's nothing you can do about it. You can not buy a crypto currency if it has been growing in price for a long time. Before you invest heavily in the crypto currency, you need to study the crypto currency market well.
Am very sorry for that but the truth is this you can not flow in what you do no have enough knowledge about, its like wanting to drive a car cause others are doing same without asking or knowing what the procedure was like, that is what just happened to you knew little about crypto and then dived into it was carried away by the storms and waves. Study more and make the right consultations
There are thousands stories similar to that one! Biggest mistake there was from investor to go to short term trader! If you bought coin, you are not in lose if you dont sell! There are people who are selling their huge entire mining farms. And they are stuck with equipment lost its value 3-4 times, and huge electric bills! So many times sad and most of people don't listen, "Don't invest what you can't afford to lose"!
I am sure that you can make money in this market. You need to learn more about how to make money in this market. Sometimes people do not want to learn and immediately go into battle.
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?
"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?
Its wrong to quickly rebuff this as a make up story or some unreal story because sincerely, if we have some people close to us who invested during the all time high of 2017, they would probably be in the same position and if you as an active participant in the market had been the key that brought them into the fold, you would probably had to deal with comments like leading them to the doom. The story actually touched various stages of a typical investor whose total money has been hanged into crypto and cashing out at the time won't be a wise option. Funny enough, this could be the story of some people here as well.
However, in the when crisis happen, the best way to go about it is survival as the crisis cannot be stopped, the approach to tackle it can be reviewed which the author in my opinion did wrong and its largely because he didn't have the right understanding of the market before investing. If you know you cannot handle the everyday volatility, just take a break and focus on other things. It would be hard but eventually it will worth it.
if in my opinion all because of the fault of the person in carrying it out, because in the crypto world that must be considered in making investments and trading it must be able to control emotions when the market experiences a very bad decline
Very tragic story, I think research should be done a few days before investing on cryptocurrencies and should be seen in the market for a few days, and never invested in all wealth of life, it is unfair.
A piece of a sad story, people who are not ready and mentally unprepared are very influential in the bear market. The highest risk and having a negative discourse.
This is a lesson for us that jumping into the bear market without the knowledge and mentality of steel is not as expected. What must be done before actually jumping into the bear market is to explore bitcoin and also the market/exchange, don't be tempted by high value without analysis!
This is a lesson for us that jumping into the bear market without the knowledge and mentality of steel is not as expected. What must be done before actually jumping into the bear market is to explore bitcoin and also the market/exchange, don't be tempted by high value without analysis!
yeah, that is a sad story and a lesson for us to be more careful when investing in crypto currency and we have to know the risks, don't be too greedy to get profit when there is a chance even if only a little
I don't know I just wanna talk, if someone gets a loss when investing in cryptocurrency like bitcoin, just hold. Look at the bitcoin nominal you have, even though it decreases, the nominal will not change still remains the same which decreases only on money fiat. And sure enough, when someone wants to invest in bitcoin then he must know the function and potential of bitcoin in the future, if he understands it well then they will continue to believe bitcoin will have a high price in the future. 
"A fool and his money are soon parted."
Investing is not just about picking winners. It is about logic, math, mitigation, timing, and diversification.
Investing is not just about picking winners. It is about logic, math, mitigation, timing, and diversification.
I wonder how much clearly you prepare to invest in Bitcoin ? Is it safe enough for you to grasp profits in your hand easily. Anyway, Bitcoin market is unpredictable, it is difficult for us to guess the future. If you still had hope-ness in Bitcoin, keep calm and wait for the new better future. If not, making sure that you can recover capital in trading any else.
BItcoin is a type of cryptocurrency. The crypto marker is always fluctuating in price. Indeed success in Bitcoin is quite difficult, maybe it depends on luck. Yet, we can not blame almost for the crypto market about your failure. You should resupervise your procedure when you invested in Bitcoin in order to find your mistake. I hope that you can recover soon.
Had you ever spent more time researching on cryptocurrency market ? Besides your knowledges, I think you need more inspiration than knowledge to invest in bitcoin. Because investing in bitcoin is the same as taking risks. However, I feel sorry for your problem. I wish you could recover your capital and succeed in other major what you like.
Jump to: