The investor lost a million dollars in the cryptocurrency, but still believes in Bitcoin. What is the reason?

Bitcoin-the investor, who managed to lose a million dollars in a bear market in 2018, still believes in the potential of cryptocurrency. However, Peter McCormack is still advised to be more careful with their money. Enthusiast started to invest in Bitcoin in 2016. By the spring of the following year, his portfolio has grown from 6400 to $ 300,000.

Like many beginners, McCormack didn’t have the courage to withdraw in Fiat all its digital assets at the peak of the bubble. In December 2017, his portfolio is already estimated at $ 1.2 million. Former millionaire warned of the danger of blind investment during the mass hysteria of the crowd.

Learn from others ‘ mistakes

McCormack recalls that suddenly fell down on him wealth has led to reckless spending on his part.

I traveled the world and been interviewed for my podcast, drove friends to expensive restaurants and buying expensive gifts for his family. Most of my spending was frivolous.

Now McCormack has less than 200 thousand dollars in digital assets. He no longer spends money thoughtlessly and sustains life at the expense of income from your podcast. Claims himself a former millionaire, he still chose to work instead of a million dollars.

It is noteworthy that after all of the events experienced McCormack didn’t hate Bitcoin. On the contrary, the investor believes the main cryptocurrency “force for good”. As an example he cited the situation in Afghanistan. Due to Muslim customs of women in the country cannot open a Bank account, so some of them use the crypt as a means of exchange.

And how much have you lost in 2018? To share the pain with other investors in our cryptodata. And pry the actual rate of the cryptocurrency is recommended that the rating of coins. Here is the trading volumes, market capitalization and price of the assets, including in roubles.

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