I hope this proves to be an inspiring story for all the newbies here. This lad has done some amazing job. Let's appreciate and learn. The purpose of sharing this story was to learn that when to invest and how to invest basically. Just learn about the prices first and then invest. It's okay if you loose be patient and try again. Best of luck.
In May 2017, a college student based in the US invested $5,000 in Ethereum (ETH), when the digital asset was worth around $50.
Within merely months, the price of ETH skyrocketed from $50 to $1,281 at its peak, as the cryptocurrency market achieved a valuation of $800 billion.
With a base return of 25-fold, having made over $125,000 in ETH, the individual invested in a few digital assets and initial coin offering (ICO) projects, and, by the end of December, the portfolio of the investor reached $880,000.
“I gambled in more than a few bad ICOs to start 2018, had some money in coins that absolutely plummeted with no chance of recovering, etc. Today my portfolio sits at $125k, a far cry from my $880k. My estimated tax liability for 2017 is about $400,000,” the student said.
At the crypto market’s peak, the student recorded a net profit of $875,000 with an investment of $5,000.
Here's the full story
https://www.ccn.com/tax-nightmare-student-invested-5k-in-ethereum-now-owes-400k-in-taxes/amp/