Topic: I went bankrupt when I joined in cryptocurrency - page 18. (Read 2129 times)

Same as always, you dont invest anything that you cant afford to lose. If you stick to that you will be fine. It is universal for any investment field.
Good money management is the key.

~snip~

What is your opinion of this story?

What is your opinion of this story?

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."

Knowledge, they say, is power. The storyline would have been different if the said husband had much knowledge of the cryptocurrency market before putting all that investment into it. Note that this is an emerging field of investment and it is fast developing. Most people jumped into the band wagon and are now crying wolf.

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?