Share a true tragedy from the cryptocurrency world;

During the bull market in the cryptocurrency world in 2021, I had a brother who started using over 700,000 of his own funds and made over 5 million. At that time, whatever coin he bought would surge, and he felt his funds were insufficient to buy more. Later, he opened a futures account, and after learning about futures, he was overjoyed with his profits.

One day he asked me if there were any coins I was optimistic about, saying that it was inconvenient for him to invest in smaller coins. I was suddenly shocked. I asked him: where did you get so much money? He said: financing, five times leverage, with an interest rate of two percent per month, and they also deduct a month's interest in advance.

I told him that doing this was not safe for his funds, and he said it was introduced by an acquaintance through a securities channel, very safe. At that time, I had already turned bearish on Bitcoin and reminded him for three consecutive days to clear out his futures account. I analyzed with him that the first half of the year's market had ended and was returning to the starting point, and he was going to face a margin call. He simply did not believe a black swan event would occur.

At that time, according to what I said, there were less than ten days until May 19th. On May 12th, Musk announced that he would suspend the purchase of cars with Bitcoin, and just over a week later, Bitcoin dropped by as much as 34% in a single day, while Dogecoin and Shitcoin fell by 56% and 64%, respectively. After that, I never saw him talk to me about cryptocurrency again. Later, another friend told me he had been liquidated and lost over 18 million.

On the night of the liquidation, he cried and made a scene, desperate for life. His wife comforted him all night, fearing something unexpected would happen.

Tonight's CPI data is favorable for the cryptocurrency world, and the brothers in the team who went long are all making profits. 😍