A Ukrainian crypto trader has been found dead in Kyiv

[Fiatless]

We, who have experienced several bull runs and bear markets can say this but if this is ever his first bull run and he's bet on his portfolio to pay all of his stuff. Then, that's the mistake that he's done there. If that is the real reason why he has taken his own life due to financial problems then he's pushed himself too much for having all of those expensive stuff. There are threads made about what we invest in the market should be not the only money that we have. And maybe that's on his case, all the money he's invested is what he's only relying on and with payments left and right coming to him, he can't afford to sell all of those or he's probably even negative balance after his portfolio just for paying all of his dues as the market dropped a lot when this incident happened.

I just read that Konstantin Galish runs a trading platform called Cryptology Key Trading Academy where he offered guidance on trading. He has also served as director of the Association of Traders of Ukraine. He also runs several social media channels with hundreds of thousands of followers, where he shares market analysis, trading strategies, and investment advice. Which means he is not new to trading. Maybe he had not experienced such a massive loss, or other factors contributed to his suicide.

[uchegod-21]

Losing money hurts. However, everyone who is involved in risky careers like trading can guard their hearts against situations like this.
~snip~

Of course, losing money is not easy - but we who are in the world of cryptocurrencies should know that it is actually an unrealized loss that can be compensated in the future, unless we play with leverage and gamble away something we have earned with great difficulty. So if one day your portfolio is worth $100 000, and two days later it's $90 000 and you haven't sold anything, in a few days or weeks that same portfolio could be worth $110 000.

If you also invest only what you can afford to lose, then every loss should not and cannot be a tragedy that forces someone to take their own life. Over the years, there have been cases where people have actually taken their own lives because of losing a lot of money on cryptocurrencies.

I remember a guy who killed himself due to an error in displaying balances on a trading platform because he thought he had lost everything he had.

Yeah, as brutal as these losses can be, I often get concerned when traders begin to feel like their world has ended when these losses happen, even though we know that these losses can still be recovered; except when the trader limits himself by acting out of impulse and panic-selling.

Market dips are very temporary. With the right strategy, the trader can bounce back in the long run. This is why suicide is never an option. Although, traders put themselves in these tight positions where the loss hurts badly because they trade with funds they cannot afford to lose. Trading is not gambling, but some traders treat it as such.

[Lucius]

@uchegod-21, I am not at all surprised by those who are new to all this, one day they invest in some cryptocurrency and in a few days they realize that they have already lost 20%. These experienced people who live in expensive houses/apartments, drive expensive cars and then just snap as if their world had collapsed overnight are something that always surprises me.

Too much money is simply a curse for some and they don't know how to deal with it.