I LOST ALL my Money in the Crypto Crash

So I have some pretty bad news. Aside from

all of the money I lost in the stock

market, I've also lost nearly almost all

of the money that I put into the crypto

market as well. If any of you have been

following the cryptocurrency markets,

you'll know that Bitcoin and pretty much

every single other kind of crypto coin has

crashed over 60 or 70%. In total,

I had about $10,000 invested into the

cryptocurrency market, split up between

different coins, primarily in Bitcoin and

Ethereum, and then a bunch of other coins

as well. I had about $7,000 in Bitcoin and

then about $2,000 in Ethereum, and then

the remaining $1,000 which is in a bunch

of random smaller coins that aren't really

very well known. As you can see from this

chart, it's not looking too great for

Bitcoin or any other cryptocurrency

really. It got pretty high over $60,000,

but now it's nearly down to below $20,000.

So on the chart you can see there's a

little circle, and that's where I did most

of my buying. And I thought buying Bitcoin

at around $50,000 would be a good idea

because everyone was saying that Bitcoin

was going to get to $100,000 easily. Even

Cathie Wood was saying stuff like

Bitcoin's gonna be $200,000 per coin. So

as you can imagine, my $7,000 investment

into Bitcoin starting from around $50K has

not really done very well now that it's

down to $20K. That means I've lost over

50% just on Bitcoin alone. And

unfortunately, it just gets worse because

I started to buy Ethereum when it was

around $4,000. I thought it would be a

good idea to buy it at $4,000 because

everyone was saying it would get to

$10,000 easily. And now one Ethereum is

only worth nearly That means I've lost

over 70% of my investment into Ethereum,

and I don't even want to talk about the

other coins I got. One of them was called

Cardano, and I bought that when it was

about $2 or $3, and now it's below $1 for

one Cardano. I thought it would be a good

idea to start investing into

cryptocurrencies because everyone was

saying that crypto would be a good hedge

against inflation, and I felt pretty

confident and sure that inflation was

going to get worse and worse. And it has.

Inflation has just risen to heights that

we haven't seen in decades, and you would

have thought, well, this should be really

good for crypto. How come Bitcoin isn't at

$100K now if it's supposed to be such a

great hedge against inflation? But no,

instead it does the opposite and it's been

crashing. Crypto has just been crashing

just like all of the other tech stocks and

the NASDAQ. So how is it a hedge against

inflation? It's a hedge against nothing.

It's basically done nothing that it was

supposed to have done. The whole point of

Bitcoin and cryptocurrency in the first

place was supposed to be that it's not

supposed to be able to lose value because

there's a limited supply available to

people. One of the reasons why we have

such high inflation now is because the

governments keep printing money, and you

weren't supposed to be able to do that

with Bitcoin. That's why it was supposed

to be a hedge against inflation. I

personally believe that Bitcoin and

cryptocurrency has just lost all

credibility. How can anyone have any faith

or believe in crypto anymore when it can't

even do what it was made to do, which was

supposed to protect the value of your

money against inflation? And even though I

thought cryptocurrency and Bitcoin was a

pretty good idea when I first got into it,

I now think that it's kind of just like a

pyramid scheme, and it's trying to trick

people who don't know much about it to get

into it just so that they can lose money

and the people who were in before can make

money. And now that pretty much every

market is now crashing really hard after

all this inflation stuff and recession

fears, you can really see which assets are

crashing the hardest. And it seems like

cryptocurrency and Bitcoin in particular

are just popping. They are the biggest

bubbles that we've had in the last few

years, and they are the biggest to pop.

And I reckon Bitcoin and crypto, they're

all going to go to zero. And I think I'm

just going to sell whatever I have left.

And instead of waiting for it to bounce

back up— I just don't really believe it's

going to bounce back up to what it used to

be again— I think I'm to end up shorting

crypto because I think it's going to get a

lot worse. And one of the reasons I think

it's going to get a lot worse is because

of this guy called Michael Saylor. Some of

you may know who he is. He's— this guy

owns over a billion dollars of Bitcoin,

and apparently he borrowed a lot of money

to be able to purchase these Bitcoins.

And if Bitcoin drops below a certain

point, he's going to get margin called

because he used so much leverage, and then

he's gonna have to sell a lot of his

Bitcoin, which is going to crash the

Bitcoin market down even more. I just

don't really believe in cryptocurrency

anymore. I thought, yeah, the concept And

the idea of it did sound pretty

interesting at first. And yeah, you could

have made a lot of money if you got in

earlier, but I think it's too late now.

Right now it's just too late to get in.

The money's already been made. Just look

at the charts for any cryptocurrency. It

looks like a massive mountain with a peak

and a massive drop. It's too late. It's

done. It's over. There's just been so much

scamming and degeneracy all around the

whole crypto sphere. All of these weird

apps and weird currencies coming out and

all these different scams, especially by

content creators promoting their own kind

of cryptocurrency so they can make some

quick money. I think in a few years' time

we'll look back at all this crypto madness

and we'll just all think, wow, look at

this, it's such an obvious scam, such an

obvious bubble. How did anyone actually

believe that this had any kind of future?

And I feel kind of annoyed with myself for

getting sucked into it so easily, but it

was just so hard to resist the temptation.

When you hear about all these people

making millions, all these crypto

billionaires, it just sounded so tempting

to get into it as well. And I'm starting

to think that I should just give up on

investing in general. I got into investing

and stocks about 2 years ago hoping to

make some money, and in the beginning I

did make a lot of money and it was really

fun and exciting at first. But then the

party ended and now I've lost just so much

money from all of these bad investments.

Every single stock I picked ended up just

crashing, and then the ones that didn't

crash were the ones that I sold too early.

It was so hard to make money doing this

investment stuff, and I just think it

would be a better idea to just sell

everything and stop buying stocks, stop

buying crypto and just buy something else.

When I first got into the stock market, I

thought, wow, this is so easy. Why doesn't

everyone just do this? I'm making

thousands and thousands every month, and

everyone else is just scared to do it

because they heard some horror stories, a

few examples of people losing a lot of

money, and they're put off from getting

involved. They're so stupid. Look at me

making so much money. Well, who's laughing

now? Because they aren't the ones who've

lost tens of thousands of dollars and

pounds. But I guess that's just one of

life's harsh lessons. There's no such

thing as easy money. Sure, you might get

lucky here and there, but eventually the

luck runs out and you end up losing

everything that you won or you gained.

And I'm seriously thinking of just selling

every single stock I have and taking

whatever money I have left over and just

buying a car, because at least with a car

I can actually do something with it. I

could even use it to maybe make some

money. I could get a job where I deliver

stuff, or I don't know what I could do

with a car, but at least it's not going to

drop in value by like 80% in a year. I

just don't really see the stock market

going back up anytime soon. There's too

many negative catalysts. There's too much

inflation, there's been too much money

printing, and then there's these other

problems going on in the world involving a

war. The only way the stock market is

going to go back to making loads of money

and going up loads like it was doing back

in 2020 is if the interest rates go back

down to 0% and the Federal Reserve starts

printing out trillions of dollars again

like it did in the first you-know-what.

And there's just no way that's going to

happen again because if they did that, so

then inflation is going to go up to like

20% and you'll get hyperinflation, and

have to bring interest rates up even

higher, and it's just going to be an even

worse situation than we have right now.

So unfortunately, I just don't see that

there's going to be very good prospects

for the stock market anytime soon. So I

think I'm just going to stay away from it

for the next few years and maybe try and

get back into it when things look a bit