The Golden Age and the Dream of Wealth
In 2017, the cryptocurrency world ushered in a bull market known as the "Golden Age", and many people achieved a leap in wealth during this period. One of the young people who had not been in a formal job after graduating from college chose digital currency as his career. He started with tens of thousands of yuan, and with the huge fluctuation of Bitcoin from about $1,000 to $20,000, he increased his account funds from hundreds of thousands of yuan to more than 9 million yuan in just two years, and the floating profit exceeded 10 million yuan. The success during this period made him believe that cryptocurrency trading was like an ATM, so he regarded cryptocurrency trading as his freelance career and welcomed his daughter in the same year.
The relentless blow of the bear market
However, the bear market in 2018 shattered all his dreams. The price of Bitcoin fell from $20,000 to more than $3,000, a drop of nearly 90%. This former "upstart in the cryptocurrency circle" lost all his accumulated wealth in just one year, and spit out all the principal and interest back to the market. After experiencing such a huge loss, he began to raise funds and tried to make a comeback.
Struggle and fall in despair
In mid-2019, the price of the currency rebounded to $14,000. He borrowed and mortgaged assets again to raise more than 8 million yuan, trying to turn things around in the new round of bull market. However, the market did not reverse as expected, and he suffered a heavy blow again, and almost lost all of his principal of more than 8 million yuan.
In 2020, he was more eager to raise funds, even borrowing money from friends and relatives, and exhausting all his credit resources. The market crash on March 12 caused him to lose most of his funds. Faced with the pressure of family life and huge debts, he could no longer face the market rationally.
The tragic end
In the end, the cryptocurrency trader chose an extreme path in desperation. After losing more than 20 million yuan, he and his wife chose to end their lives under the dual pressure of family conflicts and financial difficulties, and killed their three-year-old daughter before jumping into the sea.
Lessons and reflections
This story is not only a personal tragedy, but also a warning about the risks of cryptocurrency speculation. The following reflections may help others avoid a similar fate:
1. Invest rationally: Don’t let greed cloud your rationality. Invest with a plan and understand market risks.
2. Psychological preparation: In the face of huge market fluctuations, maintain mental health and seek professional psychological counseling when necessary.
3. Family first: Investment decisions should not affect the basic life and happiness of the family.
4. Diversify your investments: Don’t put all your eggs in one basket, spread your investment risks.
5. Seek help: When investment is out of control, seek help from experts or relatives and friends in a timely manner to adjust strategy or exit the market.
This story tells us that investment is not just a game of numbers and money, but also about human nature and life. Prudent, rational and timely adjustments are the long-term solution.
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