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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)

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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