I went bankrupt when I joined in cryptocurrency

[thenameisjay]

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?

In order for one to have a really healthy investment in cryptocurrency specially bitcoins, you really have to be active when it comes to trading. Prices for bitcoins are extremely volatile due to the fact that it's ultra expensive. So play it safe and get even the smallest profits.

[ipanks]

~snip

In order for one to have a really healthy investment in cryptocurrency specially bitcoins, you really have to be active when it comes to trading. Prices for bitcoins are extremely volatile due to the fact that it's ultra expensive. So play it safe and get even the smallest profits.

He needs to start from the beginning because of the bankrupt, and he doesn't have anything. But if he still has money, then maybe he can start to buy bitcoin or buy the low coin price. I am sure that he can recover his loss, and he can make the profit again in the future but there is a lot of work to do, and the important thing here is he needs to learn about trading so he can be able to make the profit. I agree that he should trade with safe and don't expect the big profit if the situations are not right, it is better to get the smallest profits than never.

[pakhitheboss]

This post sounds more like a Blame game on Bitcoin. That what I dislike most about this post.

Your personal failure, has to be owned by you. STOP BLAMING BITCOIN!!!

No one forced you to join the Cryptocurrency trend. You with you Greed of becoming a Millionare are responsible for your own Failure.

Learn and then Invest. This is not a quick rich scheme nor anyone can predict the market trend.

Its is good, that you have realised what a fool you are and best option is to HODL till the Bull market returns.

[Seeker#9]

Cryptocurrencies are the most riskiest to trade if you compare it to forex and stock trading but the rewards are higher if you are successful in your trading. You need to prepare yourself first before joining the trade by studying it and gaining expertise or experience. Going into a trade without enough preparations will only result to losses, frustrations and giving up. One should study the cryptocurrency and market behavior and don't expect success in your initial trading becuase it will took time before you become expert on trading. They said "there are no secrets to success. It is the result of preparation, hard work and learning from failure."

[MAJICOIN]

If you use your crypto in a balance way then it will be good as we see that people become more rich in the crypto industry and on regular basis crypto have shown a rapid growth in the past 3 years and now the market is volatile but bankruptcy can cause you huge losses. In my opinion when i joined crypto i have also keep some money in bank  on which i want to earn something to minimize the risk.

[mornabo]

Obviously people convince to adopt cryptocurrency because of the opportunity become a millionaire
But didn't learn wel how to accept risk in this new digital currency possible to lose all investment in a quick
Specially in trading if they didn't know the right deriction to earn profits

Yeah the incident often happens where many people join without any knowledge, just because their friends manage to profit from holding, and then many of them try the same thing (buy and holding) and when the price changes occur that is weakens and breaks down they sell it and bankrupt

[fakegurutu]

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?

If you enter the world of crypto, you must do some thorough research about it. Have some basic knowledge before you do some risky things. And number one rule, invest what you can afford to lose. Dont go all in with your money in investing, leave some bro. Cryptocurrency os very volatile one day you are in a cloud nine, the other day you will be in hell.

[PlusOne88]

You are definitely right about it. I have learned my lessons as well. Trading is as hard as it seems as there is no guarantee for a real success. Sometimes everything seems to be more of a luck than a real opportunity that can be studied and prepared. The best thing that he could have done was to study it before really investing a lot. I felt how sad he would have. Lucky for me the money had not been so important when I lost it. But I still think that there will be a time maybe in the future when everything will be back to normal so I am just keeping my coins and holding it for as long as it really seems reasonable. We need to have stop loss value that is the only way we may be able to limit ourselves and our loses.

[vfrcbv91]

I think we are to blame for our troubles. If this man had played more carefully, he wouldn't have lost everything. IMHO

[gensol]

This story is same for everyone that came in early this year or last year ending. Everyone was too excited to notice the market was over priced.

[ngalamunan]

That is why you should always remember that only invest what you could afford to lose.
Don't get greedy you are a perfect example for the newbies that they shouldn't put everything they got in something that is too risky.

I think it's wrong that you yourself might join in Crypto not know what it means and how it works. and you are in a hurry to invest to get money. but instead you got tricked. and your money is gone with a blink of an eye.

[Yaunfitda]

This story is same for everyone that came in early this year or last year ending. Everyone was too excited to notice the market was over priced.

No one will really notice it because crypto that time looks unstoppable. With so many news and a lot of FOMO's getting in, everyone was really exciting as if we're taking the world by storm, we almost did touch the 1 trillion marketcap, it was really a huge success last year.

However, for those who see that the market is overbought, they knew what was coming and maybe majority dump everything including bitcoin at the early months of 2018.

[B.]

many people don't think in detail when buying bitcoin, especially when crypto prices increase at the end of last year. I also experienced it and lost quite a lot of the profits that I hold up to now, but a lot of experience gained and made me more resistant to the current situation, at least I feel it now rather than later with greater losses, I did not give up to go bankrupt and try to trade from the remaining available capital.

[norachuks]

It is very wrong to be greedy, don't always want it all. When you trade, trade with caution and moreover many people came in this year January with the mind set of making it big time overnight.

[p i e c e]

That is why you should always remember that only invest what you could afford to lose.
Don't get greedy you are a perfect example for the newbies that they shouldn't put everything they got in something that is too risky.

And never borrow the money, especially when you are going to spend it on the cryptocurrencies. Always remember about the crypto market high volatility and do not risk too much.

[Olayinka225]

I must say you invest because of multitude

You didn't carry diligent research on what's bitcoin itself before jumping into the trading. I must say alots pf lesson is needed in this days crypto.
DYOR
Do not FOMO
Do not FUD
TS
TC
TA
Candle Stick Reading
etc

[Violettochka]

Crypto is a very risky thing to play with and many went bankrupt, especially because of hard times lately, you are not the only one who experienced that, but that's how the game works.

[jtrapirap]

All types of investments has risks at its own level, thus always bear in mind not to invest you can afford to lose because if you fail you would end up blaming up yourself. Also you should do your own research, plan & wise decision making and not just rely on hype and others speculation, then trade wisely -- buy on dumping period and wait for a pump to possibly to earn profits.

[Kingstonic]

I guess because of the way you entered into the cryptocurrency business, I don't want to blame you, but I think if you had followed the rules you are suppose to be rejoicing today.

[Dean Collins]

This story may indicate that you need to closely monitor market trends. I think you got a good experience and understand cryptocurrency more than anyone else.