Crypto Investors that have lost more than 60% of their investments
The Cryptocurrency Market has been Bearish since the beginning of the 3rd Quarter of 2018, Many Influential crypto investors have lost their investments while many still hodl, praying for positive charts. Below are some crypto investors who lost huge amounts of money trading cryptocurrencies.
Crypto investor Derek Rose lost a total of $1 million worth of cryptocurrency.
According to Derek, ‘it was just such a rush, turning an investment of around $70,000 into almost $3 million by placing leveraged bets on two cryptocurrencies called EOS and Iota in a few weeks during November and December.’
He also added ;
‘My first moves were smart, involving patience and careful research. But rather than take profits and, say, buy a house, I bought more Bitcoins on the same mysterious website I was using, called Bitfinex. And that bet paid off as well, at first. I bought half a million dollars in Bitcoins when they were less than US$8000, only to see their value rise to over $14,000 in a few short days. So I bought more (and more). And just about every cryptocurrency I could buy on margin on Bitfinex.’
Derek’s bank account was booming as he had made over $7,000,000 buying cryptocurrencies, according to him, He borrowed $14,000,000 to buy more cryptocurrencies, He paid thousands of dollars a day as interest but for each $1000 rise in bitcoin’s value he was making about half a million dollars.
The Market was favourable not until 2018 when Bitcoin saw a drastic fall in price, making him lose a huge amount of his investments ≈ $1,000,000 but he still has high hopes for the crypto market saying;
“This year is off to a terrible start as far as crypto evaluations go, but we’re just a few months in. If in the end, 2018 ends up being like 2017, I’ll have made back my $10 million.” Full Story Here
Fox Van Allen
A Huge Crypto Investor, Fox Van Allen tells his story of how he lost a bunch of money on Bitcoin and how he’s dealing with it. Fox says after the bullish market earlier in the last quarter of 2017 he bought Bitcoin by December when the price was about $19,000. To his utmost surprise, he saw the market chart falling drastically as the price of Bitcoin fell to $7,500 making him lose ≈ 62% of his investment. After then, He decided to hodl as he watched market cap chart almost every day hoping for the positive, but things turned out for worst as the price fell to $5,200 making a total loss of 73%. Full Story Here
Another crypto investor shares his story on how he lost more than $100,000 in a bearish market in just 1 week, the investor a 28-year-old male from San Diego, California who wishes to keep his name anonymous shares his sad story on a steemit post saying;
“Now, I would like to share with you my experiences in trading over the course of this year and how I lost $100,000 in just one week of the recent crypto bear market. It is definitely very painful and has caused me a long week of heart and brain aching f**kery. But I have managed to find myself again and remain mentally sane enough to write this and share with you all some tips and mishaps I went through and that hopefully, you will never have to go through or experience.” He said that he made a lot of gains in the beginning but when he started thinking on how he could double up his gains the market was unfavourable and causing him to lose a huge amount of his investments. Full Story Here