Man invested everything he had in bitcoin in 2017 and saw his assets depreciate 80%.
Buying bitcoin for $20,000 in 2017 was a risk that many people took. For some this risk resulted in complicated situations having even a tragic ending. In a recent story published in Reddit a user told that he lost a great friend because of the depression that he got into after going into debt to buy bitcoin.
The story was released as a warning, asking that those who are in a moment of loss with the digital currency – which fell 15% in recent days – do not despair. According to the reddit user he „lost a friend who succumbed to depression and decided to go the way he thought was the easiest“.
„I don’t know how much he bought exactly, but he said he had bought some Bitcoins, probably spending all the money from his savings“.
According to the report, the redditor’s friend bought Bitcoins in the highest of 2017, when the asset was around $ 20,000, the following year the currency faced one of its biggest falls, a loss of over 80%.
„The Bitcoin continued to fall and it became different“.
„In December 2018 his mother called me asking if I knew where he was, I had no idea“.
A week later she called me and said they found him lifeless inside the car in a field with a note explaining that he couldn’t stand the stress of having lost everything anymore“.
„Bank still charges family for dead son’s debt“
The report goes on to explain that the situation was much more serious because the friend not only used all his savings to buy Bitcoin but also took out a loan thinking that prices would return to December 2017 levels.
„The worst part for the family is that not only did they lose a child, but the bank was still making collections so that they would pay off their dead son’s debt.
Finally the investor who was reporting the case sends an important message to those who may be in a similar situation.
„Don’t sell, don’t panic, don’t do the worst thing you’re thinking.
Talk to someone. Look at the advice that most people post on this forum.
There are several reasons to invest in cryptomoedas, but remember you should never invest what you can’t afford to lose“.
Some manage to make more sacrifices to try to recover the value they initially invested, but it is still a complicated situation. That’s why it’s important that people who may be desperate about the recent fall talk to other people and it’s important that, as a community, others are willing to listen.