After ten years in the industry, anyone who borrows money to speculate in cryptocurrencies will inevitably end up in debt. If they can handle it, it’s good, but if they can’t, the ending will be miserable! Some will jump off the building, some will commit suicide...
The cryptocurrency circle was born from Bitcoin. The magical Bitcoin has spawned a wide variety of cryptocurrency circles. A dazzling array of altcoins are rampant, and they have risen hundreds or thousands of times during the bull market, allowing everyone to see the light of financial freedom.
But at the same time, everyone in the circle knows that financial freedom only exists in theory. Those who can achieve this goal are the early evangelists in the currency circle. They hold Bitcoin and have resources.
Most ordinary people provide blood transfusions to the cryptocurrency world.
However, many newbies do not understand this truth. They think that as long as they are lucky enough, they can make money in the cryptocurrency world. Many choose to take a gamble. If they have no money, they choose to borrow money from online merchants, WeBank, or even some loan sharks to invest.
Such operation will magnify the risk of cryptocurrency investment 100 times.
Circling in the cryptocurrency circle does not rely on luck. This is not a gambling table. As long as you come here with the intention of making a fortune with gambling, the final outcome will be that you will lose all your capital and leave the market.
Borrowing money to invest will inevitably lead to heavy debt, and various financial risk events will arise, which will greatly pollute the investment environment of the cryptocurrency circle.
Some people even lost the courage to live, all because of borrowing money for investment!
The cryptocurrency market is a highly volatile and extremely risky investment market.
Lao Yu has met many newbies. In fact, they know very well that they enter the cryptocurrency circle with the intention of getting rich through gambling. However, when they really lose the bet, they are unwilling to admit defeat. After all kinds of troubles, they finally have to accept this reality.
Especially for newbies who borrow money to invest, once they enter the cryptocurrency circle, there is a 90% chance that they will lose everything.
From the perspective of data and human psychology, the entry point they choose is generally the bull market high point, and they taste the sweetness of the rapid rise of the bull market when they first enter the market.
Watching the numbers in my account growing every day, I felt extremely inflated.
I think I am a genius in cryptocurrency trading. It's as if I have seen the light in my life and found the code to wealth in this world. However, the key is still the code of getting something for nothing.
However, all these illusions will be completely shattered as the market corrects.
When a newbie enters the circle and makes money, basically no one is willing to exit with a profit. Greed is human nature, and everyone hopes to make more.
As the market began to pull back from its high point, my profit turned into loss.
At the beginning, I was still adding positions at the position I had once dreamed of, but the more I added, the lower the price fell, and finally I fell to the point where there was no hope for life. The bear market really came.
Many projects have begun to return to zero, and many of the projects I invested in have fallen by dozens or even hundreds of times.
At this point, the cryptocurrency investment has completely failed.
If you are investing your spare money, then you can afford everything, you will just have to live a tighter life.
If you borrow money to invest, you will be heavily in debt. Lao Yu was once a rookie and was in debt too. He deeply understands that kind of pain.
So now when I see someone wanting to borrow money to enter the cryptocurrency world, I will definitely do my best to dissuade them.
When investing with loans, you can only accept rising market prices, not falling ones, or even fluctuations.
But how is it possible that the cryptocurrency market keeps rising without fluctuations?
The cryptocurrency world is a highly controlled, high-risk, high-volatility market with 24/7 non-stop trading. If you borrow money to invest, you will inevitably not be able to withstand market fluctuations.
Because this money is not your own, it is borrowed, and you hope to make money out of nothing with this money, but this money has a cost. Don't think that the cost of 5 yuan per day for every 10,000 yuan is not high. 100,000 yuan is 1,500 yuan a month.
With this cost in place, you are here just to make quick money. Once the market fluctuates, you will become anxious and you will not be able to hold on to the coins in your hands, even if you invested in Bitcoin.
Some people choose to hold on when the market is falling, but end up losing more and more.
Some people want to sell, but are worried about getting cut at the bottom...
If you borrow money to invest, you will suffer a lot at this time, and it is common for you to turn gray overnight.
Many fans have asked Lao Yu, "I borrowed money to invest and made some money, what should I do now?" My advice is to cash out and pay off all debts regardless of the market conditions.
If they suffer a loss, Lao Yu will let them make their own decisions. No one can bear this responsibility.
The most important investment principle in the cryptocurrency world is: invest with spare money.
Once you borrow money to invest, you have already lost before you even start. #币安合约锦标赛 $BTC
