This is why we had $20k Bitcoin laste December

This picture was taken from this Reddit post, where a guy goes deep in shithole by taking a whooping $300k Dirham loan for cryptocurrency investment when literally every coins were at its all-time-high.

He is at 85% loss and paying 8k every month now for another 3.5 years.

Simple picture ans ahort story, but it hurts my eyes so much. Ouch.

While I absolutely feel for the unfortunate guy, on the other hand this is a real and lively example to teach us the definition of bubble.

Throw away all the obscure financial term to explain bubble from Investopedia, this is how a bubble was formed. People go all in FOMO mode even borrow money from bank which they can't afford to lose and throw it all in the Bitcoin. When things go south, god bless him to have a job to pay back all those debt.

Greed don't make you go all in, but beyond all in.

---

在这个帖子里，某人在去年十二月的高峰期贷款买了约一百千美刀的加密货币。崩盘后现在每个月要还上 8k 美刀长达三年半。这个活生生的例子完美诠释了何为泡沫。就是一大帮人完全不顾风险，向第三方借自己输不起的钱一次过丢进比特币这个比太平洋还要凶险的大海。这次终于见识到了何为勇者无惧！

---

Posted from my blog with SteemPress : https://fr3eze.vornix.blog/this-is-why-we-had-20k-bitcoin-laste-december/

---