I witnessed several thought-provoking stories last night:
An investor took a risk and borrowed money, moved various consumer loan platforms, raised hundreds of thousands of yuan, and invested all of his money in the currency circle, hoping to usher in the emergence of wealth. However, unfortunately, the currency market collapsed and the exchange was disconnected. Hundreds of thousands of yuan were instantly liquidated, leaving little left. In the currency trading group, his voice crying conveyed endless pain.
Several players in the currency circle showed off screenshots in the community. One person's assets of 70 million yuan were reduced to zero overnight, another person's assets of 36 million yuan were burned, and another person's assets of 20 million yuan were wiped out. However, these people remained calm and continued to talk easily. It’s unbelievable that there are so many people investing such huge amounts of money in cryptocurrency speculation.
The main culprit of assets going to zero is undoubtedly leverage. Without the use of leverage, they basically wouldn't have lost much in this plunge. After all, Bitcoin rose from 29,000 to 42,000 in today's trading, an increase of 44%. But due to the use of leverage, the position was liquidated and everything was lost.
Last night, there was also a crazy gameplay in the currency circle: with 100,000 yuan as the principal, directly using 200 times leverage, if the increase is 10%, you can earn 2 million yuan, and if the increase is 100%, you have the opportunity to earn 20 million yuan. 500% can easily earn 1 billion yuan. However, if you are unlucky and fall by 0.5%, you may face liquidation.
This kind of gameplay subverted my understanding. It was so crazy that it was almost the same as gambling. If you win the bet, you can live a luxurious life, but if you lose the bet, you may pay a heavy price. I estimate that the investor who borrowed more than 100,000 yuan in consumer loans may have been caught up in this, chasing this extreme psychology. Again, investing is not gambling, brothers!
