Topic: Many cryptocurrency players have gone bankrupt (Read 22073 times)
It's risky, I know. But not all of them went bankrupt. If you think clear and make the right decisions, then everything will be alright. Ok, who am I kidding. It's bad. Yeah, it is possible to become bankrupt if you are not careful while trading. One of my cousins went bancrot and lost a lot of money, but it wasn't his fault, it was the market, because sometimes it can be unforseeable, and even if you did everything right, you can still lose. That is why he contacted a san diego bankruptcy lawyer to help him with returning his money. And even it was a pretty long trial, in the end he won, and he returned all his lost money.
And what's so surprising? A cryptocurrency market cannot make everyone profit. After all, material values are not created on it. This market only redistributes them. That is, if one in the market makes a profit, the other must suffer losses. Therefore, winners and losers will always be there. Therefore, in order to make a profit, it is necessary to study this market well and soberly assess the prospects for its movement.
Yes, like all markets the crypto market should be studied before investing too but I think those are oversimplifications because even those that research before investing can end up losing money too.
but if you bankrupt because of trade, you need to study harder dude!
Any investment is risky. In the same way, I invested in different assets and some investments brought me a profit, and other losses, but this is quite normal. The more experienced an investor, the less mistakes he makes, making more successful investments and making more profits than less experienced investors.
It is hard to argue with what you wrote. All investments are risky.
Many people try to hedge their investments so if several fail but one does quite well, they hope to recover their losses.
Any investment is risky. In the same way, I invested in different assets and some investments brought me a profit, and other losses, but this is quite normal. The more experienced an investor, the less mistakes he makes, making more successful investments and making more profits than less experienced investors.
And what's so surprising? A cryptocurrency market cannot make everyone profit. After all, material values are not created on it. This market only redistributes them. That is, if one in the market makes a profit, the other must suffer losses. Therefore, winners and losers will always be there. Therefore, in order to make a profit, it is necessary to study this market well and soberly assess the prospects for its movement.
Yes, like all markets the crypto market should be studied before investing too but I think those are oversimplifications because even those that research before investing can end up losing money too.
And what's so surprising? A cryptocurrency market cannot make everyone profit. After all, material values are not created on it. This market only redistributes them. That is, if one in the market makes a profit, the other must suffer losses. Therefore, winners and losers will always be there. Therefore, in order to make a profit, it is necessary to study this market well and soberly assess the prospects for its movement.
I know many people personally that have blown multiple accounts with trading bitcoin, and they were either bull or bear or even both.
Most people I know bought BTC above $10K, and they ended up selling at a huge loss or ended up buying more at $6K and ended up with an ever larger loss when it broke the $6K and head towards the $3K.
And some of them even turned into huge bears and ended up shorting at like $3.5K on huge margin because they were expecting $1K bitcoin and just wanted to break even on their investment. And in the end they got burnt both ways.
Most likely if we ever get another FOMO rally, the same will happen. People will overleverage, buy and get burnt.
Most people I know bought BTC above $10K, and they ended up selling at a huge loss or ended up buying more at $6K and ended up with an ever larger loss when it broke the $6K and head towards the $3K.
And some of them even turned into huge bears and ended up shorting at like $3.5K on huge margin because they were expecting $1K bitcoin and just wanted to break even on their investment. And in the end they got burnt both ways.
Most likely if we ever get another FOMO rally, the same will happen. People will overleverage, buy and get burnt.
I feel sorry for those that sold their Bitcoin at huge losses. Always invest wisely.
I know many people personally that have blown multiple accounts with trading bitcoin, and they were either bull or bear or even both.
Most people I know bought BTC above $10K, and they ended up selling at a huge loss or ended up buying more at $6K and ended up with an ever larger loss when it broke the $6K and head towards the $3K.
And some of them even turned into huge bears and ended up shorting at like $3.5K on huge margin because they were expecting $1K bitcoin and just wanted to break even on their investment. And in the end they got burnt both ways.
Most likely if we ever get another FOMO rally, the same will happen. People will overleverage, buy and get burnt.
Most people I know bought BTC above $10K, and they ended up selling at a huge loss or ended up buying more at $6K and ended up with an ever larger loss when it broke the $6K and head towards the $3K.
And some of them even turned into huge bears and ended up shorting at like $3.5K on huge margin because they were expecting $1K bitcoin and just wanted to break even on their investment. And in the end they got burnt both ways.
Most likely if we ever get another FOMO rally, the same will happen. People will overleverage, buy and get burnt.
When all anyone has to do is buy a few bitcoins, hold and wait a few years. Sad.
I know many people personally that have blown multiple accounts with trading bitcoin, and they were either bull or bear or even both.
Most people I know bought BTC above $10K, and they ended up selling at a huge loss or ended up buying more at $6K and ended up with an ever larger loss when it broke the $6K and head towards the $3K.
And some of them even turned into huge bears and ended up shorting at like $3.5K on huge margin because they were expecting $1K bitcoin and just wanted to break even on their investment. And in the end they got burnt both ways.
Most likely if we ever get another FOMO rally, the same will happen. People will overleverage, buy and get burnt.
Most people I know bought BTC above $10K, and they ended up selling at a huge loss or ended up buying more at $6K and ended up with an ever larger loss when it broke the $6K and head towards the $3K.
And some of them even turned into huge bears and ended up shorting at like $3.5K on huge margin because they were expecting $1K bitcoin and just wanted to break even on their investment. And in the end they got burnt both ways.
Most likely if we ever get another FOMO rally, the same will happen. People will overleverage, buy and get burnt.
I believe that you are just trying to increase the number of your post count since you failed to provide evidence of people whom you said have gone bankrupt. Am one of the traders and I strongly believe that 2019 has really made me and any other rational investors to invest more at a cheaper rate. So, we believe it is a good year.
The OP is from 2018.
In this time period a lot of changes habe already been done.
I mean a lot of new coins came, became popular also some fell to make their existence.
Its not about new coins that come and go that took the investors money but its about the old coins that got dumped . i dont know the exact reason on why they got dumped for the whole year . it maybe cause by a manipulation or any other thing . that dump last year was not so normal but i think that some people still use that oppurtunity to buy more coins .
A lot of things also happened with the traders and investors. But to say them bankrupt, i completely disagree.
As to make loss or win, its completely depends on luck.
So who knows there may be jackpot in the door.
So nothing can be said.
As to make loss or win, its completely depends on luck.
So who knows there may be jackpot in the door.
So nothing can be said.
Yes not all are going to be bankrupt . most of those who loose are only weak handeed users . they cannot wait for the recovery of the market and they think that its the end of the crypto so they choose to sell at a major loose . i feel sorry for them .
The OP is from 2018.
In this time period a lot of changes habe already been done.
I mean a lot of new coins came, became popular also some fell to make their existence.
A lot of things also happened with the traders and investors. But to say them bankrupt, i completely disagree.
As to make loss or win, its completely depends on luck.
So who knows there may be jackpot in the door.
So nothing can be said.
The players that went to bankrupt are those players who are not preapred dont have any plan if theres a problem that they will encounter and some are new players in the world of crypto they invest because they knew the profit is huge.
The players who went bankrupt in crypto , were not players at all. They were mostly newbie who did not have know how of trade and they just jumped into bitcoin trading to make quick money, but eventually they realized that it is not easy to make money in crypto.
About 70% people in bitcoin trading are just newbies who come to make quick money from trading, thinking it is the easiest way to get money. Those are the people who actually lost more than others.
I think the market have shaked everyone but the players that went bankrupt actually didnt analyse the market well as it should be their top most priority and since they are doing really bad handling their business that should be expected But most project just lost funds that are still in crypto but they learned and things are moving on now
It is not easy to survive in the intense bear Market movement from 19800 - 3100$. Only the ones who had the ability and power to Hold could survive this period. However, this bear period is now over and we see bitcoin slowly rising now.
The same happened with the run up to $1000. People who went in at $1000 were crying in 2015, but even at a general low from 2017 they are sitting pretty. Not always best feeling top buying but as long as you dont go fiat at the bottom or blow it on scam coins people should generally be fine just might take some time. Patience is key
Yeah right, patience is key. from the history of price changes that exist, the price of bitcoin experiences extreme price changes, falls so deep and rises very high, if you make a wrong choice, you will bankrupt and regret your decision on all your life, patience is the key
Just remember, life is short so regretting all your life over a money decison is stupid. All of us here will be dead inside 100 years, most of us much less - keep perspective on what's really important.
The same happened with the run up to $1000. People who went in at $1000 were crying in 2015, but even at a general low from 2017 they are sitting pretty. Not always best feeling top buying but as long as you dont go fiat at the bottom or blow it on scam coins people should generally be fine just might take some time. Patience is key
Yeah right, patience is key. from the history of price changes that exist, the price of bitcoin experiences extreme price changes, falls so deep and rises very high, if you make a wrong choice, you will bankrupt and regret your decision on all your life, patience is the key
The same happened with the run up to $1000. People who went in at $1000 were crying in 2015, but even at a general low from 2017 they are sitting pretty. Not always best feeling top buying but as long as you dont go fiat at the bottom or blow it on scam coins people should generally be fine just might take some time. Patience is key
Good point, but a person who spent a couple grand back in 2015 on 10 bitcoins isn't gambling much at this point compared to potential future gains, wouldn't you say?
-Just an example, I'm sure there are earlier players who spent a couple grand on a thousand bitcoins.
-Just an example, I'm sure there are earlier players who spent a couple grand on a thousand bitcoins.
I agree, those investment examples you gave are excellent comparators.
The timing of when to buy, when to sell and at which price it all happens is the real key to being a success or a failure.
It's extremely easy to go broke trading crypto - especially making trades on margin. Short term trading is gambling, nothing more.
Even those holding for long term as also not guaranteed anything, that too can be defined as gambling.
Good point, but a person who spent a couple grand back in 2015 on 10 bitcoins isn't gambling much at this point compared to potential future gains, wouldn't you say?
-Just an example, I'm sure there are earlier players who spent a couple grand on a thousand bitcoins.
It's extremely easy to go broke trading crypto - especially making trades on margin. Short term trading is gambling, nothing more.
Even those holding for long term as also not guaranteed anything, that too can be defined as gambling.
It's extremely easy to go broke trading crypto - especially making trades on margin. Short term trading is gambling, nothing more.
Jump to: