I went bankrupt when I joined in cryptocurrency

[Dikarama7]

Most people say that crypto can be very useful, but to get that profit is needed knowledge about crypto, because to get profit is not easy and there is also no guarantee to always get profit from crypto.

[Silberman]

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

This is a very sad story and it is very common, he thought that he could make money in a market that was reaching its peak and that is the worst moment to enter in any market, he should have waited for the crash to happen and if he did that he could have all the time in the world to pick the right coin, but he was greedy and unfortunately for him now he's paying the consequences.

[JPSelzer]

This story once again confirms how dangerous and unpredictable cryptocurrency is. Someone earned millions on it, and someone lost all their money. Hence, there are opinions that the cryptocurrency is a Scam. Just someone well thought out his strategy, and someone just chasing big money. We must be more careful and constantly get new knowledge about crypto. Then everything will be fine.

[darkangel11]

In this story, I did not find out if this guy sold his bitcoins and altcoins for a given time to himself at a loss, or not. If not, then all situation  can be remediable, however, it is possible that it will take a long time to wait for the price increase in the market. But there's nothing you can do about it. You can not buy a crypto currency if it has been growing in price for a long time. Before you invest heavily in the crypto currency, you need to study the crypto currency market well.

He either sold at a loss or is still holding. It seems that he switched to altcoins and when they were going down he tried to make up for the losses by actively trading. This again proved to be the wrong choice.
To sum up, he went in when BTC was high pushed by greed and rumors. When the price started to fall he didn't sell (no stop loss). Later on he switched to altcoins and we know that they are even more volatile than BTC. Then he tried trading with no prior experience and of course got eaten by a bigger fish. Sad story, but there are hundreds of people in the same situation.

[Harrisonimo]

I want to believe there are quite a lit of persons too that did fall victim of this mighty dip of this 2018. The story is very understandable. My take and stand is to just keep the Hodl till it is really worth the sell. The person should try and diversify into something else for now pending when the market revives itself.

[lazygin006]

That is why I never recommend spending too much money into investing crypto currencies. You always have a very high risk of losing it all in a fraction of a second. Play wisely with the game and you will be much happier.

[budismile]

I think, this story has already been posted. I once read about the story where someone whose assets were reduced to 90% and the money he used was money for daily needs.
My opinion about this story is how stupid a person does not read / find information before he does something.

[nydiacaskey01]

Trading is not for everyone. Trading can make you rich in one day, but it can make you poor in one hour. One bad decision can make a difference. I lost money in trading too but the money that I use to trade in Crypto are those I can afford to loose. If I earn from it, good, I don't, it's Ok, I can still go to sleep and wake up not feeling bad that I lost a lot of money in trading.

[Tashi]

This is sad, but this will be a  lesson for other investors. Never invest too much on cryptocurrencies since the chances would likely you'll lose it all. Never invest more than you afford to lose,  and never wait or believe in  other people's stop and go signal in whether you should buy or not.

[marlonbatotoy]

That was sad moment when you hopefuly become billionaire but it dont come.. i cant blame him for being depress even though I am, every day I watch the Bitcoin price and i've been stressed if the bitcoin price drops.. But I advice that he can start new life by finding work and try to hold his token, live his life, try to forget the money he invested in a month, and When he get back who knows?

[ecnalubma]

The lesson is clear, invest responsibly. Millionaires are not made in months, they are patient during ups and downs. In this space there are lossers and winners, its individuals call or fold just like in poker. These industry is very young and I'm very optimistic that it is more than a $200 billion in value, were on the right track to be involved in this space and only faithful and patient wins.

[Twinscoin2017]

Well i think crypto currency is not your feild, maybe you are not lucky on this feild when you get bankcrupt, because not everyone really get a big profit on this feild. Some other people are also loss on it because they are not lucky to choose their way of gaining a huge amount of profit. I believe that crypto is profitable but it can also give us a huge lose.

[DeepestOnion]

This is a quite terrible story. You supposedly made the mistake to buy at the top of the market. It happens. The only mistake that you have to avoid now is to sell everything at the bottom. This would be the final catastrophe. Now you just have to patience for the day where the market will go up again. It wost likely will, in some months or in some years. And then you will have your money back. And possible more.

[Silberman]

This story once again confirms how dangerous and unpredictable cryptocurrency is. Someone earned millions on it, and someone lost all their money. Hence, there are opinions that the cryptocurrency is a Scam. Just someone well thought out his strategy, and someone just chasing big money. We must be more careful and constantly get new knowledge about crypto. Then everything will be fine.

People enter this market and many other markets without understanding how the process of earning money works, every dollar that you earn by trading or by investing is a dollar that came from the pocket of another person that is also trying to earn money in the market, so if someone is earning millions out of cryptocurrencies that means that someone else is losing a lot of money.

[Ale88]

What is your opinion of this story?

Since the first time I decided to join the cryptocurrency world I have always heard (well, read) this: invest only what you can afford to lose. Cryptos are extremely dangerous, especially if you buy in the wrong moment, just like your friend did. I don't wanna say that it was too late but it was wrong, you cannot buy on the hype, you have to wait.

[namcunguyen]

Buy when digital money prices go down can generate attractive profits. However, in practice, "speaking is easier than doing". To use this strategy requires investors to have time to invest and study the market, which many market experts find very difficult. You have been in a hurry when no have time to learn because this market has gone a long way and the slope can not stop its breakthrough. And I do not know how much your property is, but I still believe Bitcoin will come back.

[lelylely]

Crypto is at risk and therefore must be careful because its value is volatile, and there is no guarantee that anyone who enters will benefit. Do not invest if you are not ready to lose, and do not consider crypto as a real job, because there is no definite gain.

[Ucy]

The couple made some mistakes:  they traded with money they could not afford to lose...they probably didn't do enough research in this aspect. They were in it for the wrong reason - to get rich quick because they heard many became millionaires through Bitcoin.
What happened was unfortunate. It is not unique to Bitcoin. People lose money in Stock Market thesame way.  

Do invest what you can afford to lose whether you are investing in Stocks, Cryptocurrency or Precious metals.

[kapalmabur]

If you see the story you are really sad if you don't attend the 2017 end party that happens to Crypto or even you buy Bitcoin that month? if it is true then all of that is purely your fault because you do not feel panicked when the market conditions continue to weaken and hope the price can rise by $ 50 of course it's a joke because if we invest in Bitcoin or other investment tools of course we will continue to monitor the progress of what is happening in it . For example, why at that time the price dropped far because if there were consequences there was a reason behind it all.

[DAVETUN]

Lesson learnt, Be strategic in your approach, do not wait and expect an unrealistic price rise, ensure you take advantage of every bullish period in crypto, take capital and part of profit, also ensure you follow news related to crypto per time in other to be part of the price rise, Please not that all form of investment is filled with risk, you must ensure you calculate your risk in order to get the best out of your investment.