/biz/ - Business & Finance

[Anonymous No.11057116]

https://money.cnn.com/2018/09/11/investing/bitcoin-crash-victim/index.html

>An estimated $400 billion has been wiped off the value of major cryptocurrencies since January.
>Sean Russell's life savings were among them.
>Russell rarely played the stock market and had little investing experience when he put around $120,000 into bitcoin in November 2017.
>He was stunned when that turned into $500,000 in just one month.
>The price of Bitcoin surpassed $20,000 in December before collapsing. >It now trades at $6,300.
>Russell says the paper losses on his initial investment have reached 96%.
>Russell rarely played the stock market and had little investing experience when he put around $120,000 into bitcoin in November 2017.

[Anonymous No.11057128]

Just average down you fucking pussy

[Anonymous No.11057135]

>>11057116
>losing 96% of your investment in something that drops 68%
Destined to be poor.

[Anonymous No.11057170]

96% down on initial means he must be at about $5,000 right now. In other words, he's down 99% from his ATH of $500,000. This guy clearly didn't simply buy and hold BTC, given that BTC is down "only" about 67.5%. Smells like Bitmex/shitcoins to me.

[Anonymous No.11057177]

Haha he fell for the altcoin hodl meme. If he had just hodl'd bitcoin, he would have barely lost anything.

[Anonymous No.11057305]

How the fuck do you lose 96% by putting money into BTC in November when the price difference at peak November was about 10k?

What kind of retard lets themself get Bog'd that hard?

[Anonymous No.11058009]

>Russell attempted to mitigate his losses by shifting money from bitcoin (XBT) to an offshoot called Bitcoin Cash and other cryptocurrencies including Ethereum and Ripple.
JUST

[Anonymous No.11058029]

>I want to make some money. I know! I'll put it all I to Bitcoin since it's bound to keep going up