Sad story of Bitcoin investors

Avatar of Nick John By Nick John Dec1,2023 #Bitcoin #investors
Sad story of Bitcoin investors 2
Sad story of Bitcoin investors 2

“I was stuck in the mindset of being left behind and trying to make money quickly,” he told the New York Times, “But losing money crippled me financially.”

Roberts has many people in the same situation.

Tony Yoo poured $100,000 into virtual currency.

Of course, in the past, the virtual currency market has experienced many ups and downs.

“What you often hear is how your friends lose money,” said Alex Kruger – a former banker and cryptocurrency investor. “Investing according to trends without knowledge will

It is difficult to calculate how many virtual currency investors are losing money.

However, the majority poured into virtual currencies last fall and winter.

Sad story of Bitcoin investors

Two engineers at Bitfarms’ mining facility in Canada.

Nearly all new Coinbase and Square customers will lose money if they bought virtual currency in the last 9 months and still keep it.

Now, at the office of Coinone – one of the country’s major exchanges, during 2 hours during working hours, only one customer comes in.

Kim Hyon-jeong, a 45-year-old teacher living in the suburbs of Seoul, said she poured 100 million won ($90,000) into virtual currency last fall.

“I think digital currency will be the right choice and a turning point for ordinary workers like us,” she said, “I think my family can escape poverty and live more comfortably.”

In the US, Charles Herman (29 years old) – owner of a small business in South Carolina has also been obsessed with virtual currency since September last year.

Herman got back his $4,000 investment.

Much of the investor anger lies with the smaller cryptocurrencies.

However, in reality, almost no company creates software as promised, making these virtual currencies useless, only playing a role for speculation.

In terms of devaluation rate, Bitcoin is still quite good compared to smaller currencies, falling only 70% from last year’s peak, compared to 90% for its competitors.

Still, many investors persist in holding on to virtual currencies, hoping that as blockchain technology becomes widely used, the asset’s price will recover.

But Yoo still strongly believes that these virtual currencies will be a new way to pay online, without needing to rely on large businesses as intermediaries as currently.

2013 was the time when Bitcoin price first hit the $1,000 mark.

“5 years ago, I was unemployed, bankrupt and embarrassed to use my real name,” Ryan Selkis – a virtual currency investor said on Twitter, “Now I just want to tell new people to

However, not everyone is as optimistic as Selkis. On the social network Reddit, a user from the United Arab Emirates (UAE) even took a photo of his $100,000 loan in December to buy virtual currency.

Roberts still holds the virtual money to wait for the price to recover.

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