"The Fall and Rise of Arman: A Crypto Trader's Tale"
Arman Khan was once a confident man in his early thirties, living in a posh apartment in Karachi, with a head full of dreams and a heart pumping with ambition. He had tasted success early — an IT graduate turned entrepreneur, he stumbled into the world of cryptocurrency in 2020 when Bitcoin hit a meteoric rise. Like many others, Arman was lured by the stories of overnight millionaires, tales of men turning a few thousand dollars into fortunes that could last generations.
Initially, Arman was cautious. He invested a small portion of his savings — just enough to feel the thrill, but not enough to hurt. And it worked. His investments doubled in months, then tripled. He started watching YouTube gurus, joined crypto Telegram groups, followed every major trader on Twitter, and thought he had cracked the code.
By 2022, Arman had pulled out his entire life savings — PKR 5 million — from a mutual fund and dumped it all into crypto. He even sold his late father’s gold wristwatch, an heirloom his mother had begged him to keep, just to buy the dip in Ethereum. He laughed at people still working 9-to-5 jobs. "The future is decentralized," he told anyone who would listen.
Then came the crash.
In 2023, the market plummeted. Terra (LUNA), one of his biggest holdings, collapsed. He watched helplessly as the digits on his portfolio drained like water from a cracked vase. He held, then averaged down, believing the dip was temporary. But the dip became a canyon. Soon, all that was left was a cold wallet with tokens worth pennies and a gnawing emptiness in his gut.
He had to sell his car. He moved back in with his mother, who silently cooked for him, never saying “I told you so.” His friends drifted away. Depression crept in. Nights were sleepless, filled with regret and self-loathing. He had once been the guy everyone came to for financial advice. Now, he avoided mirrors and phone calls alike.
One evening, as Arman sat on the rooftop staring into the Karachi skyline, he realized something profound — he hadn't really lost because of crypto. He had lost because of greed, lack of discipline, and most of all, the illusion that he was invincible. The market didn’t betray him — he betrayed himself by not understanding it.
Arman’s Recovery Plan: Lessons Learned
1. Education First, Money Later:
Arman enrolled in an online financial planning course. He learned about risk management, diversification, and market cycles — things he had ignored before.
2. Stable Income Before Speculation:
He restarted his freelance IT career. This time, he made sure his primary income wasn’t dependent on speculation.
3. Diversify, Don’t Dive In:
He decided that no more than 10% of his savings would go into high-risk investments like crypto. The rest would be split between low-risk mutual funds, real estate, and emergency savings.
4. Avoid Hype Traps:
He unfollowed all the so-called “crypto influencers” and replaced them with legitimate economists, financial advisors, and books.
5. Embrace Mental Health:
Arman started journaling, joined a support group for traders, and even saw a therapist. Losing money is hard, but losing yourself is worse.
6. Long-Term Vision:
Instead of trying to double his money overnight, Arman focused on slow, steady growth. Compounding became his new best friend.
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Advice for Others from Arman’s Story:
Never invest money you can't afford to lose.
Don’t follow the herd blindly — hype is not a strategy.
Study market fundamentals, technicals, and the history of financial bubbles.
Have an emergency fund before you think about investing.
Be emotionally prepared for losses. If a loss breaks you mentally, you shouldn’t have risked it.
Review your investment decisions regularly and accept mistakes early.
Take profits — greed kills.
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Epilogue: The Rise
Two years after the crash, Arman isn’t rich — but he’s stable. He owns a small IT consultancy and teaches risk management part-time at a local institute. Occasionally, he still invests a bit in crypto — but this time, with wisdom instead of wishful thinking.
He keeps his father’s watch on his desk, not to remind him of the loss, but of time — and how it heals, teaches, and offers second chances.
