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After the Bitcoin Boom: Hard Lessons for Cryptocurrency Investors

Discussion in 'CryptoCurrency' started by Asif WILSON Khan, Aug 23, 2018.

  1. Asif WILSON Khan

    Asif WILSON Khan Executive VIP

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    SAN FRANCISCO — Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter.

    Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened.

    “I got too caught up in the fear of missing out and trying to make a quick buck,” he said last week. “The losses have pretty much left me financially ruined.”

    https://www.nytimes.com/2018/08/20/technology/cryptocurrency-investor-losses.html
    https://www.msn.com/en-gb/money/mar...cryptocurrency-investors/ar-BBMdaGc?li=AA54rU
     
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  2. blogzandstuff

    blogzandstuff Elite Member

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    Where are all the cryptokiddies now, last year those of us who said it wont keep going up had " hater " and " you don't know anything, it will only go up ", now silence
     
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  3. MisterF

    MisterF Moderator Staff Member Moderator Jr. VIP

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    Forgot how many times I logged onto here and the front page was 90% posts in Crypto section.....
     
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  4. William702

    William702 Jr. Executive VIP Jr. VIP

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    Don't egg them on, I'm enjoying being able to see non crypto threads in the feed again ;)
     
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  5. Alex D.

    Alex D. Jr. VIP Jr. VIP

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    He now understands the meaning of "never invest what you can't afford to lose". Crypto is not for everyone.
     
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  6. tb303

    tb303 Senior Member

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    You dont know anything as you are just a hater. It can only go up from here. Better?
     
  7. TheVigilante

    TheVigilante Jr. VIP Jr. VIP

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    I hear some people sold their house to buy coins lol
     
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  8. krishnaverma

    krishnaverma Jr. VIP Jr. VIP

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    I read something related to how there had always been huge correction after sudden growth today


    The data below in bold is taken from that article :

    Sudden growth in bitcoin prices followed by correction of months.
    1. 9x over 5 days in 2010 from $0.008-$0.08
    2. 10x over 5 months in 2010 from $0.08-$1
    3. 40x over 2 months in 2011 from $0.07-$30
    4. 14x over 3 months in 2013 from $15-$213
    5. 12x over 2 months in 2013 from $139-$1132
    6. 20x over 7 months in 2017 from $1,000-$19,800
    Now the prices are again low and I see no reason why we will not see another or many such growth in future as well.
     
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  9. darouaz

    darouaz Newbie

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    It is actually healthy for the crypto market....
     
  10. thescrrr

    thescrrr Jr. VIP Jr. VIP

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    Oh god, I hated those days, Im so glad its over. And honestly who put their lifesavings into crypto is a retard.
     
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  11. krishnaverma

    krishnaverma Jr. VIP Jr. VIP

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  12. blogzandstuff

    blogzandstuff Elite Member

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    Oh that takes me back to before Christmas when I'd get alerts from the cryptokiddies, now their parents have seen their bank statements it's all gone quiet lol!
     
  13. MisterF

    MisterF Moderator Staff Member Moderator Jr. VIP

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  14. anti_dote

    anti_dote Power Member

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    "Only invest what you can afford to lose" Simple, I made some money and lost few. But I can't complain as it is all part of investing. Although I invested most in Ethereums and believe it may recover in future.
     
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  15. proxified

    proxified Jr. VIP Jr. VIP UnGagged Attendee

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  16. b1step-ahead

    b1step-ahead Supreme Member

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    Ripple Baby!
     
  17. Neon

    Neon Jr. VIP Jr. VIP

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    I didn't invest shit in crypto and got profits in the XX,XXX range dear from Airdrops and some bad dog actions back in November. It's sexy sir and tbh I don't understand all these normie seo elephants hating on crypto. One guy wrote it here before and me remembered it woof:

    "Opportunist - One to whom it doesn't matter whether the glass is half empty or half full, he just grabs the opportunity and drinks the water."
     
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  18. simplecheapbots

    simplecheapbots Regular Member

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    Some guys are clueless...Btc each year reaches his highest spike arround x-mas...
     
  19. krishnaverma

    krishnaverma Jr. VIP Jr. VIP

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  20. John4life2017

    John4life2017 Senior Member

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    I put in quite a large chunk in bitcoin at its peak and got a big loss. However, I've made it all back in my business. Lesson learnt.