Hello, my name is Thomas. I’m 22 years old. I wanted to share this story to the world in hope to help others make the right decision when it comes to investing / trading.
I got into bitcoin mid 2017 when a friend of mine briefly told me about it. Without any research, I threw $100 into it just for fun. Like most crypto newbies mid bull run, it blew my mind how quickly my wealth was growing, even with such a small amount of money.
Fast forward to the 20K peak in Jan. 2018, I had invested ~$1,000 into bitcoin, nearly doubling my investment to $2,000 by the top of the cycle. Still with no to little research of what Bitcoin even was, I didn’t sell. Like most crypto newbies, I ended up underwater on my investment later on in that same year.
After realizing my investment was losing value, I decided it was time for me to dig deep in figuring out what the hell bitcoin even was. Immediately I made Google, YouTube, and Twitter my best friends. It’s truly amazing how much information you can learn online for free.
After days, weeks, and months of research, I found myself not only understanding the concept of bitcoin better, but weirdly falling in love with the idea of how this technology could change the entire world. I decided to keep investing.
By 2019, I was a true bitcoiner. I put 95% of my wealth into this asset, not by influence of others, but by choice. I joined crypto Twitter (wild bunch of people let me tell you), bought some books, studied economics, and learned technical analysis. By 2020, I had known what my passion was and I was trying to incorporate how I could live working in the crypto industry.
I had accumulated ~3 bitcoins by early 2020. It made me feel on top of the world for having the 3 whole bitcoins by making money bussing tables for 3 years straight. None of my friends or family knew the importance it meant to me because they didn’t fully understand the importance of bitcoin.
March 2020 comes around, covid. I was laid off work, wasn’t too upset because of the unemployment coming in, and knowing I had my 3 bitcoin. I decided to start learning how to trade in my mean time. I figured, why not? I have the time. So, I started dabbling into leverage trading. Made $1,000, lost $1,000, made it back again. Wasn’t really losing or gaining much, just kind of messing around.
I decided to put $5K in next, 2 days later, gone. I never felt so sick in my life. The feeling of having the most precious asset in my life taken from me was horrible. I thought “I had to make it back.”
...and that ended up being the worst decision of my life. By august 2020, I had lost all of my bitcoin. And I have missed out on the bull run I’ve been waiting for the last 3 years of my life. I hope some of you see this and stop adding more to your trades, reconsider leverage, and be safe with your money. I have not stopped studying bitcoin, & I redoing the past 3 years of my life all over again. I love the crypto community and I want to congratulate all you strong hands out there.
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