Many cryptocurrency players have gone bankrupt

[JollyGood]

Too many people invest in crypto without taking care. They overspend and make losses, they then borrow or take loans to try to get back on level terms but cannot recover losses and it spirals more out of control.

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[whiteblue]

not all cryptocurrency players go bankrupt, those who experience bankruptcy are only people who do not know how to trade properly and properly so that they are easily affected by bad news and easy to panic and maybe those affected are new traders because they still do not know how good and right trading.

[ThKevin]

Many cryptocurrency players have gone bankrupt
As I said in this year's new futures market
Such speculation has already allowed many former winners to Departure .

Very sad that some people are investing funds without taking care and having contingency plans in place in case the investment fails.

I think we should 100 times before making our investment in cryptocurrency. There are many scammers in the market especially new ICO project scam people. When you invest in ICO which is not authentic and the project manager doesn’t have any credibility in the market, he will take all your money and leave your thoughts about crypto investment a bad experience.

[ocid]

experienced crypto players of course have a strategy in terms of trading in any situation. so I think if there are crypto players who go bankrupt because of lack of experience so they don't have a strategy in dealing with the market situation.

[panjul07]

experienced crypto players of course have a strategy in terms of trading in any situation. so I think if there are crypto players who go bankrupt because of lack of experience so they don't have a strategy in dealing with the market situation.

Bankrupcy may come to anyone, no matter they are experienced or not experienced crypto players. Just like in other business where great experienced businessman may get bankrupt once he make a mistake on the business. Mistake may come as it is a nature of human, the most important thing is we should know how to deal with the mistake.
So yeah I agree that we should have a strategy, there should be plan 'B' 'C' etc.

[theminime]

experienced crypto players of course have a strategy in terms of trading in any situation. so I think if there are crypto players who go bankrupt because of lack of experience so they don't have a strategy in dealing with the market situation.

Bankrupcy may come to anyone, no matter they are experienced or not experienced crypto players. Just like in other business where great experienced businessman may get bankrupt once he make a mistake on the business. Mistake may come as it is a nature of human, the most important thing is we should know how to deal with the mistake.
So yeah I agree that we should have a strategy, there should be plan 'B' 'C' etc.

i agree. bankruptcy doesn't depend on experience.yes, happens mostly to the newbies but no specifically. crypto's are highly volatile.   

[BlueStackz]

Many cryptocurrency players have gone bankrupt
As I said in this year's new futures market
Such speculation has already allowed many former winners to Departure .

Players? Are you referring to investors or exchanges? You can’t know when investors goes bankrupt cause you’re not in their pocket unless they tell you. So I guess you’re referring to exchanges. Some of the exchanges you see are scam and all they do is make away with people’s money once they have got as much as they need.

That’s why is good to do proper research about any exchange you want to invest in, if you don’t know how you can do that then you can go for old exchanges with good reputation already.

[fommes86]

Responding to topics and statements made by Op, is actually giving credence and relevance to whatever he is insinuating because people like that are better referred to as trolls who does not have any iota of the argument they are putting forward neither is it being supported with fact to drive home their point. Everyone knows that the golden rule in crypto is not to invest money which if unavailable, would put you in a difficult situation and the moment that is adhered to, then the issue of bankruptcy does not arise. Aside that, the rate of return for anyone since the beginning of 2017 has been positive year on year basis. So, there is no need to continue dignifying this with responses.

I’d like to second this. Even if a crypto player makes a horrible trade or has sold their coins at a loss, they shouldn’t go bankrupt unless they have placed all their life savings on the line - which is strongly not advisable. Perhaps a better phrasing for the heading/title should be “many cryptocurrency players have lost heir money” because the term bankrupt is misleading. It also gives a bad connotation.

Even putting at risk your savings does not bankrupt you, in the sense that you still have a source of income (I hope so). The problem is that people get so excited and they will take loans or max out their credit cards just for FOMO. And then the bubble bursts  

[passeroutpass]

Competent cryptocurrency traders only improve their financial condition. They know and understand a lot, so they almost always win. Perhaps you wanted to say that many novice traders have lost their money. I'll believe that more.

[jems]

Competent cryptocurrency traders only improve their financial condition. They know and understand a lot, so they almost always win. Perhaps you wanted to say that many novice traders have lost their money. I'll believe that more.

indeed, those who have traded for a long time will be able to analyze the market situation and continue to adjust to the market, although it can be said that the market is currently in an uncertain condition they will still profit through their trading experience.

[bonammeo]

I have heard a lot about this, and it has terrible consequences. However, when you start investing, the risk of bankruptcy is already present. But do not be too worried, they are smart people, they will know how to overcome this problem.

[buonty563]

Why can it go bankrupt, is it lacking in understanding about crypto, it's a mistake, before we start what we do, first, we have to understand it well, then we play / work there, and also have to know really what we want to buy, the project is good no, the team is anyone, we also have to know that.

[escalante28]

It so sad what happen to some crypto players because of those big whales. In our current situation even in a legal way you get scam, like ICO. Imagine during ico you can buy that token in $1 but after ICO and get listed it just a matter of an hour the token dump its value from $1 to $0.002 and that is totally a scam that is why lot of investors too gone and bankrupt. Some of the investors now don't trust crypto because of it.

[onebtcforlife]

Due to market fluctuation, many people lost their value in the market which nobody didn't expect this much downfall. Last year the prices went very high in the market which nobody didn't expect growth and this makes us lose more value in the market due to sudden drops.

[rationotled]

given in any industry if you are not that good in that specific area of business most likely you will be ending bankrupt but dont let this this happen without giving you a good lesson in life and try again some time. a great trader is product of tons fail calls.

Yes that is right, but I think that if we are new in trading then we need to be careful and should try to do trading in a limit, where we can afford to our lost, I think that we first need to get some experience which can prevent us to become bankrupt.

[Julien_Olynpic]

I know, for example, that the assets of the company BLACK ROCK have fallen sharply in price. This company started investing in cryptocurrencies at the end of 2017 and did not sell them when they were at the peak of their price. Now she, like many, is sitting at a loss (in a drawdown).

[Akermayya]

The biggest failure leading to bankruptcy when participating in cryptocurrency is ignorance and no clear plan. It leads to false psychological decisions.

[yonjitsu]

Getting bankrupt is really a hard thing one can experience especially in crypto investment. Supposedly, one can recover back from being bankrupt if he tries again but he needs to manage his crypto assets well.

[martina14]

Bankrupt? if they are holding a shitcoin they will end up like that.
But if we are having a good coin that has great potential to be a player in the future then we are in good shape.
Even the market is red or the price gone really low, we will never be on that stage as long as we are not selling to be gone nothing,.

[Boys27]

it is true, many people are bankrupt because of crypto, in my opinion the main cause is greed, most bankruptcy is caused by a lack of knowledge and without analyzing so they make mistakes that make them bankrupt