Chinese investor loses $400,000,000 in Bitcoin

[Nisharawal]

He had some 100,000 Bitcoins on March 2018 when Bitcoin was $10,000 to $12,000. Now Bitcoin is $6,000

Read:

At least one individual in China took the term “HODL” to heart as his or her Bitcoin wallet has seen a total of 93,947 BTC transferred to it since March 25, 2018. The wallet’s address is 1KAt6STtisWMMVo5XGdos9P7DBNNsFfjx7 and it currently possesses 85,947 of the total amount in Bitcoin that it originally had, after selling exactly 8,000 BTC off.

Read more: https://cryptovest.com/news

I really wonder how traders are able to hold this much big amount and how carelessly people lose this much big amount in BTC is such an easy way. The transaction is considered in loss only when the holder sells the particular amount or stakes in BTC in lesser than the price at which he bought. We can easily see the power of BTC and how holding the BTC for a long-term can make you a billionaire.

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[Camorra Dev]

How true really is this news? I am not convinced about this. $400,000,000 is a whole lot of money. But no matter what, I still will not blame the investor for deciding to hodl. He should even hodl more till Bitcoin bounces back fully.

I agree with you because I don't believe in that. Chinese investors are very smart people, so I don't think that they can make such a big mistake in the crypto world.

[ricatop]

it's not true is not it? until he cashed them until he lost his money

[bidadari22_]

I think he is still making a profit and not missing if he buys his $5000 worth of bitcoin during March he sold it for $ 6000.You know that an investor who has a large amount of bitcoin knows what he is doing and I believe he will not sell his bitcoin if he know he can lose it.

[cizatext]

Your analysis is wrong how can you say he has lost when he is still in position of the said amount of bitcoin since he has not sold the bitcoin in his possession, because if he hodl and Wait for price rise he will still recover and even make remarkable profits on the bitcoin because the bitcoin market is always volatile.