I Lost my Life Savings in the Crypto Crash...

So I've got some pretty bad news.

Remember last video I was talking about

how I lost quite a lot of money in the

stock market when the whole market went

into like crash correction mode back in

February? Well, I put the remaining of my

money into Bitcoin-related stuff, and

well, Bitcoin and cryptocurrency have not

really been doing very well either. So

when things started to go downhill back in

February, I didn't panic sell straight

away. I thought, oh, this is just It's

gonna go back up. And I bought heavily

into the dips. The problem is the dips

kept on dipping even lower over months and

months. And then finally, I think in April

or beginning of May, I cracked and I felt

like, that's it, I've had enough of losing

money. I don't want to see my money going

down anymore. And I panic sold pretty much

all of the stocks I was in. And instead of

leaving the money on the sidelines, I

decided to buy mostly Bitcoin and crypto

and some mining stocks because at the time

the crypto market was doing really well

and everything was going up. Bitcoin was

shooting up to $60K. Everyone was saying

stuff like Bitcoin's going to $100K, it's

going to $250K this year. And I believed

it and I bought in at pretty much the

peak. And the reason why I keep losing

money in the stock market is because I

keep buying at the peak. I see everything

shooting up and going to the moon and I

don't want to miss out and I buy because

of the phrase, you know, it's better late

than never. Sometimes never is better than

late. I bought at the peak of the bull

market last year. I bought at the peak of

ARK Invest. I bought at the peak of

crypto. And now my remaining money has

just been absolutely effed. And it's just

so annoying because for some reason I only

seem to want to buy things when they're

going up, when they're at their all-time

highs. That's when I want to get in. And

when things are going down, And when

things are dropping really big, I don't

want to touch it. And that's just the

wrong kind of mentality to have. You need

to reverse that. You need to want to buy

when things are down because that's when

you're getting a good deal. And you don't

want to buy when things are shooting up

because then you've kind of missed out.

If things are shooting up and they're at

all-time highs, then you've kind of missed

the boat and it's too late to get any

meaningful gains. And then you risk buying

at the top and then you risk having it

crash coming down and then you're bag

holding. And the reason why crypto has

crashed is just so dumb. It's mainly

because of stupid Elon Musk and China. I

actually used to quite like Elon Musk. I

thought he was cool and trendy and I

thought it was funny how he would troll

people and use memes on Twitter. And then

he got into Bitcoin and trolling the

crypto community. And first of all, it was

great because he announced, hey guys,

Tesla, we're going to be accepting Bitcoin

for Teslas. And then the thing just shot

up to $60K and everyone was really happy.

And then a couple months later, a couple

weeks later, he suddenly changes his mind.

He says, actually, we're not accepting

Bitcoin anymore because it uses so much

energy or it uses so much fossil fuels and

it's bad for the planet. As if he didn't

know that already. He must have known that

before buying a load of Bitcoin and

saying, hey, we accept Bitcoin. He's just

messing with us. And then after he tweeted

that, the whole thing just crashed. And

then it crashed more because he memed out

some tweets. He tweeted some memes about

breaking up, and his memes— I mean, his

tweets are very cryptic. He doesn't just

say it out loud plain and clear because

he's not actually allowed to, but he'll

put out these weird pictures, like these

weird memes, and they're usually connected

to Bitcoin and how he feels about it. And

then the whole market just reacts to his

tweets. It's so stupid how some egomaniac

billionaire who I don't know how he has

time to do this stuff messing around on

Twitter. Doesn't he have like 20 companies

to run? Isn't he trying to get humans to

Mars? Why is he sitting around on Twitter

screwing with things like this? I thought

the whole point of Bitcoin and crypto was

for it to be like some kind of

decentralized currency that isn't

controlled or manipulated by institutions

or governments. But then the whole thing

can easily be manipulated and brought up

and brought down and brought up and

brought down by one man. Literally one man

with a Twitter account called Elon Musk

has the power just to tweet out some

stupid memes and make it crash 40%.

The whole Bitcoin thing went from $60K all

the way down to $30K. That's a 50% crash.

And guess where I bought in? Yeah, I

bought in around $60K. You know, I felt

confident buying at $60K because I

thought, oh look, Elon Musk just bought a

billion Bitcoin and they're accepting it

for Tesla. There's no way he would have

bought in if he thought it was going to

come crashing down again. So I thought it

would be safe now that these big companies

and people are rumoring Apple is also

going to buy some. But yeah, it's just

really dumb how his tweets alone have that

much power. And then what happened to the

whole phrase, with power comes great

responsibility? He has no responsibility.

He's almost as bad as Trump with

his tweets. He doesn't seem to care

that he has this massive influence that

can affect people's lives and bank

accounts, and he's just tweeting this

nonsense out willy-nilly. So thanks to

Elon, I've lost over 50% of

my remaining life savings. Thanks,

Elon. I used to quite like you, but now my

opinion of you is starting to go down the

toilet. And then the other reason is

China. China keeps trying to ban Bitcoin

and that also crashes it every time.

They keep saying stuff like, we're

outlawing, outlawing miners

and we're shutting them down. And then

everyone panics and panic sells and makes

it crash even more. And then the US

government keeps trying to regulate it.

It's just a big headache. I don't know why

I decided to put almost all my remaining

life savings into such a drama filled

assets. So yeah, not really great news on

the financial front. I lost most of my

investment gains and my initial

investments from buying at all-time highs

in the bull market, and then I lost the

remaining of it in crypto. Well, I say I

lost it, I guess it's a bit of a loose

phrase. I haven't sold my crypto assets

Yet I'm still holding on to it, hoping

that by summer we're going to have a

massive bull run because they're all

saying, oh, Bitcoin's going to get to 100K

right now. It's just a bit of turbulence.

And then after this, this downtrend, it's

going to shoot straight back up. So that's

what I'm betting on to win back my money.

Yeah, it's been a bit of a rocky ride.

My, my entrance to the stock market

started off with such great returns and

potential, and I thought, wow, this is it.

This is my next true calling in life. I'm

going to make so much money. And then And

then it kind of all just went down the

toilet. And now I'm trying to think, what

do I want to do? Do I just pull out, cut

my losses? Do I carry on? Do I put more

money in? I'm still not quite sure about

it. I'm not sure how I feel about

investing. I feel like there is great

potential there to make money. It's just

I'm not very good at it. I guess I'm just

not very good at anything. So everything I

try to do, I have some kind of success in

the beginning. Even with this YouTube

channel, I had some amazing success in the

beginning. And then I just, I can't

sustain it. It lasts for a short term,

short time, and then it just eventually

falls flat on its face. So everything I

try in life, I get a little bit of success

in the beginning, and then sometimes it's

my fault, and then sometimes it's because

of things that are out of my control, and

then it just ultimately fails. I give up

because I lose interest in things that

fail. It's very hard to be motivated and

interested in something when it's failing.

I want to be interested and motivated in

doing something when it's, when it's going

well, not when it's failing. So hopefully

Elon Musk shuts up tweeting. Really,

someone needs to get him off Twitter. I

feel like Elon Musk needs to be banned.

He doesn't have the responsibility. He's

got like 60 million followers on Twitter

and he keeps— he either ruins the Tesla

shareholders' shares. I remember one

person tried— he said he was going to sue

Elon for his tweets crashing Tesla share

value. And now he's doing the same thing.

Elon Musk is doing the same thing with

Bitcoin. He just loves messing around with

the stock market for some reason. He's

like this big baby giant and he's got all

this power and he's got no responsibility

and he just thinks it's funny, you know,

flicking things and then seeing what

happens. And he doesn't care about little

people who have their actual life savings

invested into it. Yeah. So hopefully Elon

Musk grows up a little bit. Or he stops

messing around with Twitter and actually,

you know, does something useful for once