How I LOST All My MONEY Trading Bitcoin | $500 LOSS (Bitcoin Investment Update)
Published on: November 30 2022 by Carter Maxwell
How I LOST All My MONEY Trading Bitcoin | $500 LOSS (Bitcoin Investment Update)
How I LOST All My MONEY Trading Bitcoin | $500 LOSS (Bitcoin Investment Update)
| startTime | durationTime | text |
| 00:00:00 | 00:00:04 | what's up everyone Carter Maxwell here |
| 00:00:02 | 00:00:07 | and in this video I'll be going over how |
| 00:00:04 | 00:00:09 | I lost almost all of my Bitcoin |
| 00:00:07 | 00:00:11 | investment what exactly has happened a |
| 00:00:09 | 00:00:13 | Bitcoin sense and what my thoughts are |
| 00:00:11 | 00:00:16 | on the future of buying and selling |
| 00:00:13 | 00:00:18 | Bitcoin so as you might or might not |
| 00:00:16 | 00:00:21 | know this video is gonna kind of serve |
| 00:00:18 | 00:00:23 | as an update video for the first Bitcoin |
| 00:00:21 | 00:00:26 | video that I made back early in January |
| 00:00:23 | 00:00:29 | and as you can see from the title I went |
| 00:00:26 | 00:00:32 | ahead and invested 750 dollars into |
| 00:00:29 | 00:00:35 | Bitcoin in early early January I kind of |
| 00:00:32 | 00:00:38 | documented the process where I bought in |
| 00:00:35 | 00:00:39 | at kind of what happened to it a couple |
| 00:00:38 | 00:00:42 | days after purchasing it and basically |
| 00:00:39 | 00:00:44 | what my thoughts were on Bitcoin for the |
| 00:00:42 | 00:00:47 | future where I thought it was going to |
| 00:00:44 | 00:00:48 | be the price of it right now during that |
| 00:00:47 | 00:00:50 | video and then like what my prediction |
| 00:00:48 | 00:00:51 | was I was thinking it was gonna be like |
| 00:00:50 | 00:00:53 | twenty thousand and twenty five thousand |
| 00:00:51 | 00:00:55 | dollars plus and I was gonna get a |
| 00:00:53 | 00:00:57 | really really good return on my seven |
| 00:00:55 | 00:01:00 | hundred and fifty dollar Bitcoin |
| 00:00:57 | 00:01:03 | investment so as you can guess at that |
| 00:01:00 | 00:01:05 | time Bitcoin was at its all-time high I |
| 00:01:03 | 00:01:07 | was at its peak who's that like some of |
| 00:01:05 | 00:01:09 | the highest prices that Bitcoin had ever |
| 00:01:07 | 00:01:11 | seen in people were just going |
| 00:01:09 | 00:01:13 | absolutely insane people were investing |
| 00:01:11 | 00:01:14 | their mortgages on their houses people |
| 00:01:13 | 00:01:15 | are invested their life savings they |
| 00:01:14 | 00:01:17 | were just investing all this money |
| 00:01:15 | 00:01:19 | because I thought Bitcoin was gonna be |
| 00:01:17 | 00:01:20 | the next big thing and what I thought |
| 00:01:19 | 00:01:23 | was really really funny where there are |
| 00:01:20 | 00:01:25 | all these like YouTube gurus Instagram |
| 00:01:23 | 00:01:28 | growers promoting Bitcoin saying buy it |
| 00:01:25 | 00:01:30 | now go invest in all these other |
| 00:01:28 | 00:01:32 | websites like bit connect which ended up |
| 00:01:30 | 00:01:35 | being a scam and a lot of people that |
| 00:01:32 | 00:01:37 | went and invested money in there ended |
| 00:01:35 | 00:01:39 | up losing an eighty ninety percent of it |
| 00:01:37 | 00:01:42 | and they got some crap coin which ever |
| 00:01:39 | 00:01:45 | coin that a Bitcoin gated everyone that |
| 00:01:42 | 00:01:48 | had invested in there basically pyramid |
| 00:01:45 | 00:01:50 | scam as people put it but what really |
| 00:01:48 | 00:01:52 | made me mad made a lot of people mad and |
| 00:01:50 | 00:01:53 | lost a lot of people were money where |
| 00:01:52 | 00:01:55 | was everyone like wanting people to |
| 00:01:53 | 00:01:57 | invest in bit connect and going |
| 00:01:55 | 00:01:59 | purchasing coin base because what these |
| 00:01:57 | 00:02:01 | youtubers would do is they'd go put |
| 00:01:59 | 00:02:02 | affiliate links in their descriptions |
| 00:02:01 | 00:02:04 | and tell people to go through their link |
| 00:02:02 | 00:02:06 | and go sign up and buys a Bitcoin and |
| 00:02:04 | 00:02:07 | then they would shoot them an affiliate |
| 00:02:06 | 00:02:09 | Commission but what they did knew is |
| 00:02:07 | 00:02:12 | these new people that were either new to |
| 00:02:09 | 00:02:13 | ecommerce new to Bitcoin didn't really |
| 00:02:12 | 00:02:15 | know like how |
| 00:02:13 | 00:02:18 | like Bitcoin actually isn't so they're |
| 00:02:15 | 00:02:19 | putting in these large sums of money and |
| 00:02:18 | 00:02:21 | all of a sudden it starts crashing and |
| 00:02:19 | 00:02:22 | everyone just loses a lot of money I |
| 00:02:21 | 00:02:25 | mean the same thing happened to me I |
| 00:02:22 | 00:02:27 | invested that's $750 while I was at the |
| 00:02:25 | 00:02:30 | peak point I'll get into where exactly I |
| 00:02:27 | 00:02:32 | bought it later on in this video but |
| 00:02:30 | 00:02:34 | that's just part of it and now you don't |
| 00:02:32 | 00:02:36 | see those gurus anymore they're making |
| 00:02:34 | 00:02:38 | videos about something else and the |
| 00:02:36 | 00:02:40 | people that did actively promote bid |
| 00:02:38 | 00:02:42 | connect we'll just basically a site |
| 00:02:40 | 00:02:44 | where you could go and you could just |
| 00:02:42 | 00:02:46 | put money into it and over time you |
| 00:02:44 | 00:02:47 | would earn interest well that ended up |
| 00:02:46 | 00:02:49 | being a scam and those youtubers like |
| 00:02:47 | 00:02:51 | crypto Nick |
| 00:02:49 | 00:02:53 | Ryan Hildreth that were actively |
| 00:02:51 | 00:02:55 | promoting it ended up getting like sued |
| 00:02:53 | 00:02:58 | and are in some different lawsuits so |
| 00:02:55 | 00:03:01 | fast forward to now four months after my |
| 00:02:58 | 00:03:04 | original Bitcoin investment Bitcoin has |
| 00:03:01 | 00:03:08 | absolutely tanked so as you can see in |
| 00:03:04 | 00:03:10 | my recent activity on 12:19 I invested |
| 00:03:08 | 00:03:12 | seven hundred and fifty dollars in a |
| 00:03:10 | 00:03:16 | Bitcoin while the price of Bitcoin was |
| 00:03:12 | 00:03:17 | around just under 18,000 dollars and at |
| 00:03:16 | 00:03:19 | that time Bitcoin was just going up |
| 00:03:17 | 00:03:21 | who's kind of going up a little bit down |
| 00:03:19 | 00:03:23 | but just over time it was going up it |
| 00:03:21 | 00:03:25 | was going up everyone was saying invest |
| 00:03:23 | 00:03:26 | invest it's going to the moon and I was |
| 00:03:25 | 00:03:28 | like you know what I'm gonna invest a |
| 00:03:26 | 00:03:30 | little bit of money into it all |
| 00:03:28 | 00:03:34 | documented on YouTube and we'll see what |
| 00:03:30 | 00:03:36 | happened so $750 at just under $18,000 |
| 00:03:34 | 00:03:39 | per coin as you might have already seen |
| 00:03:36 | 00:03:42 | the price of Bitcoin now is seven |
| 00:03:39 | 00:03:44 | thousand seven thousand dollars and when |
| 00:03:42 | 00:03:47 | I originally made that investment four |
| 00:03:44 | 00:03:49 | months ago it was under just 18,000 |
| 00:03:47 | 00:03:51 | dollars so I literally bought it I like |
| 00:03:49 | 00:03:52 | one of the highest peak points that |
| 00:03:51 | 00:03:54 | possibly could have bought of that which |
| 00:03:52 | 00:03:56 | is really unfortunate but for me I feel |
| 00:03:54 | 00:03:57 | like it's a good learning lesson and |
| 00:03:56 | 00:03:59 | something really cool that I can just |
| 00:03:57 | 00:04:02 | document and show everyone like not |
| 00:03:59 | 00:04:03 | everything's a good investment um this |
| 00:04:02 | 00:04:05 | is like an example of one of those |
| 00:04:03 | 00:04:07 | things where it's kind of a get in at |
| 00:04:05 | 00:04:09 | the right time and make a lot of money |
| 00:04:07 | 00:04:11 | get in at the wrong time lose a lot of |
| 00:04:09 | 00:04:13 | money as you can see I bought it kind of |
| 00:04:11 | 00:04:16 | right here would really started the peak |
| 00:04:13 | 00:04:18 | and then it just just it kind of shot |
| 00:04:16 | 00:04:20 | down and then it kind of regrouped grew |
| 00:04:18 | 00:04:22 | a little bit more than it just kept |
| 00:04:20 | 00:04:25 | going down and down it down to where |
| 00:04:22 | 00:04:26 | it's now at $7,000 now not too long |
| 00:04:25 | 00:04:29 | after / |
| 00:04:26 | 00:04:31 | the Bitcoin on my coinbase account I |
| 00:04:29 | 00:04:34 | ended up transferring all of my funds to |
| 00:04:31 | 00:04:36 | my by Nance account where I could go and |
| 00:04:34 | 00:04:39 | buy some different alt coins like ripple |
| 00:04:36 | 00:04:40 | and just some smaller coins like that |
| 00:04:39 | 00:04:42 | where I could buy in larger quantity |
| 00:04:40 | 00:04:43 | it's basically to see if I could go and |
| 00:04:42 | 00:04:45 | make some additional money with the |
| 00:04:43 | 00:04:47 | Bitcoin that I already invested so |
| 00:04:45 | 00:04:50 | basically I just take the Bitcoin that I |
| 00:04:47 | 00:04:52 | had and I would buy these other these |
| 00:04:50 | 00:04:53 | smaller all coins and mime and large |
| 00:04:52 | 00:04:56 | quantities and just see if I can make |
| 00:04:53 | 00:04:58 | any money and I think I mainly like |
| 00:04:56 | 00:05:00 | broke even I think one of my first two |
| 00:04:58 | 00:05:02 | trades I made like two hundred dollars |
| 00:05:00 | 00:05:04 | of profit on one of those trades and |
| 00:05:02 | 00:05:07 | then some other trades on lucemon is |
| 00:05:04 | 00:05:09 | somewhat make some money so I think |
| 00:05:07 | 00:05:11 | overall trading the different altcoins I |
| 00:05:09 | 00:05:14 | think I broke even but something really |
| 00:05:11 | 00:05:18 | interesting is the balance left in my |
| 00:05:14 | 00:05:22 | account so as you can see the estimated |
| 00:05:18 | 00:05:24 | value left in my account is 250 dollars |
| 00:05:22 | 00:05:26 | now remember I started out with an |
| 00:05:24 | 00:05:28 | investment of seven hundred and fifty |
| 00:05:26 | 00:05:30 | dollars in my coin based account I |
| 00:05:28 | 00:05:32 | transferred it over to Finance didn't |
| 00:05:30 | 00:05:33 | really have any success didn't have too |
| 00:05:32 | 00:05:36 | many failures trading alt coins that |
| 00:05:33 | 00:05:38 | kind of broke even but the value of |
| 00:05:36 | 00:05:41 | Bitcoin it just plummeted and now I lost |
| 00:05:38 | 00:05:43 | five hundred dollars on my original |
| 00:05:41 | 00:05:46 | investment which is really doesn't make |
| 00:05:43 | 00:05:47 | me super happy but I'm glad that I was |
| 00:05:46 | 00:05:49 | able to document it and show it that |
| 00:05:47 | 00:05:51 | like lots of people lost money with |
| 00:05:49 | 00:05:54 | Bitcoin luckily that I didn't put in a |
| 00:05:51 | 00:05:56 | thousand dollars $10,000 $20,000 like |
| 00:05:54 | 00:05:58 | some people did some people were putting |
| 00:05:56 | 00:06:01 | in like I said like their life savings |
| 00:05:58 | 00:06:03 | mortgages on their houses just these |
| 00:06:01 | 00:06:06 | really really big sums of money because |
| 00:06:03 | 00:06:07 | everyone wanted to get into Bitcoin |
| 00:06:06 | 00:06:09 | everyone was promoting Bitcoin |
| 00:06:07 | 00:06:11 | everyone's saying that Bitcoin was going |
| 00:06:09 | 00:06:13 | to the moon not to know that four months |
| 00:06:11 | 00:06:16 | later the price of Bitcoin would be more |
| 00:06:13 | 00:06:19 | than cut in half and a lot of people |
| 00:06:16 | 00:06:22 | lost a lot of money trading and buying |
| 00:06:19 | 00:06:24 | Bitcoin though now that the Bitcoin hype |
| 00:06:22 | 00:06:26 | has died is no longer going to the moon |
| 00:06:24 | 00:06:29 | people are no longer promoting Bitcoin |
| 00:06:26 | 00:06:32 | and it was just another example of a |
| 00:06:29 | 00:06:34 | get-rich-quick scheme I mean I'm not |
| 00:06:32 | 00:06:36 | hating on Bitcoin I know a lot of people |
| 00:06:34 | 00:06:39 | that made a lot of money from it in some |
| 00:06:36 | 00:06:40 | rare very very few amount of people are |
| 00:06:39 | 00:06:42 | still |
| 00:06:40 | 00:06:44 | making money from it now but for a lot |
| 00:06:42 | 00:06:45 | of newbies that invested in and thought |
| 00:06:44 | 00:06:47 | it was just gonna be a make money |
| 00:06:45 | 00:06:49 | overnight thing ended up losing a lot of |
| 00:06:47 | 00:06:51 | money and for myself I personally think |
| 00:06:49 | 00:06:53 | it's a it was a good learning experience |
| 00:06:51 | 00:06:55 | I mean I wish I didn't lose the money |
| 00:06:53 | 00:06:57 | that I lost but it was a cool way for me |
| 00:06:55 | 00:06:59 | to go and just document something like |
| 00:06:57 | 00:07:01 | this on YouTube so that other people |
| 00:06:59 | 00:07:04 | could know just like what happened at |
| 00:07:01 | 00:07:06 | Bitcoin it's like what happened to |
| 00:07:04 | 00:07:08 | people that ended up investing money in |
| 00:07:06 | 00:07:10 | there and that I'm not the only person |
| 00:07:08 | 00:07:12 | that lost money trading Bitcoin because |
| 00:07:10 | 00:07:13 | a lot of people did but no one wants to |
| 00:07:12 | 00:07:15 | promote it I mean I'm super transparent |
| 00:07:13 | 00:07:17 | on my channel I'm not gonna lie to you |
| 00:07:15 | 00:07:19 | there's a lot of people out there that |
| 00:07:17 | 00:07:20 | invested large sums that were promoting |
| 00:07:19 | 00:07:22 | that they were making money while it was |
| 00:07:20 | 00:07:24 | going up but then when a crash that just |
| 00:07:22 | 00:07:26 | kind of pushed script over to the side |
| 00:07:24 | 00:07:27 | and moved on to the next thing but I |
| 00:07:26 | 00:07:29 | thought it was kind of cool for me to |
| 00:07:27 | 00:07:31 | you know just document just what exactly |
| 00:07:29 | 00:07:33 | happened a Bitcoin and what happened to |
| 00:07:31 | 00:07:36 | my original investment four months ago |
| 00:07:33 | 00:07:38 | so that's it for this video on how I |
| 00:07:36 | 00:07:41 | lost over five hundred dollars on my |
| 00:07:38 | 00:07:43 | Bitcoin investment if you enjoyed this |
| 00:07:41 | 00:07:45 | video if you guys like videos like this |
| 00:07:43 | 00:07:47 | feel free to comment below with any |
| 00:07:45 | 00:07:49 | questions and/or video ideas you'd like |
| 00:07:47 | 00:07:50 | to see in the future also don't forget |
| 00:07:49 | 00:07:53 | to Like and subscribe as I'm always |
| 00:07:50 | 00:07:55 | giving away different tips and tricks on |
| 00:07:53 | 00:07:58 | how to make money online and on that |
| 00:07:55 | 00:07:58 | note I'll see you guys next video |
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