Horror stories about investment
Do you have any horror stories about investing to share with us? Like Halloween, sometimes investing can like "tricks or treatings".
1st investment horror story
Terra Luna $Terra (LUNA.CC)$ (now known as Terra Luna classic) price (from USD120) nose dived within hours to worthless. It is followed by price crashed in the algorithmic stable coin UST to less than a cent. Many lost their life savings. Few threatened to end their lives or sufferred from mental depression thinking about huge losses. This is not the first falling knife case and definitely not the last.
2nd investment horror story
Popular and big names cryptocurrency exhanges such Celsius Network, Finblox, Hodlnaut, Vauld, and Zipmex one by one collapsed like domino. Unlike previous cases, such exchange closed without warning and money couldn't be withdrawn suddenly. These exchanges filed for bankruptcy and many retail investors wondered if the money would ever be recovered as such investments were not regulated. Despite promising high return interest (up to 20% APY), many don't trust depositing their crypto in online exchanger fearing FUD (Fear, Uncertainty and Doubt) and started to keep their tokens in cold wallet (ledger).
The two cases shattered confidence in crypto investment and to make matter worse, cryptocurrencies such as $Bitcoin (BTC.CC)$ and $Ethereum (ETH.CC)$ prices crashed to all time low a few months later and have not recovered so far.
Lesson learned
Despite all the horror experiences I encountered about investment (lose money), I have not lost confidence in investing because I believe it is the best way to build wealth. Just be patient when investing your money and don't let greed and fear (FOMO) cloud your judgement.
1st investment horror story
Terra Luna $Terra (LUNA.CC)$ (now known as Terra Luna classic) price (from USD120) nose dived within hours to worthless. It is followed by price crashed in the algorithmic stable coin UST to less than a cent. Many lost their life savings. Few threatened to end their lives or sufferred from mental depression thinking about huge losses. This is not the first falling knife case and definitely not the last.
2nd investment horror story
Popular and big names cryptocurrency exhanges such Celsius Network, Finblox, Hodlnaut, Vauld, and Zipmex one by one collapsed like domino. Unlike previous cases, such exchange closed without warning and money couldn't be withdrawn suddenly. These exchanges filed for bankruptcy and many retail investors wondered if the money would ever be recovered as such investments were not regulated. Despite promising high return interest (up to 20% APY), many don't trust depositing their crypto in online exchanger fearing FUD (Fear, Uncertainty and Doubt) and started to keep their tokens in cold wallet (ledger).
The two cases shattered confidence in crypto investment and to make matter worse, cryptocurrencies such as $Bitcoin (BTC.CC)$ and $Ethereum (ETH.CC)$ prices crashed to all time low a few months later and have not recovered so far.
Lesson learned
Despite all the horror experiences I encountered about investment (lose money), I have not lost confidence in investing because I believe it is the best way to build wealth. Just be patient when investing your money and don't let greed and fear (FOMO) cloud your judgement.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
骨神 : Luna classic to $1 .. to the moon
ZnWC OP 骨神 : Luna classic is still near USD 0 since crashed. As for Luna terra, it drops back to USD 1.50 currently - didn't go to the moon. See image.
Nancy Monserrat ortega ZnWC OP : @moomoo Rewardscars wallet Qr code sybc no trusty mailing address advocate is attacking the community safety precautions call and seek forced into a tribulnar scammers are referring