In 2018, there were many cases where people were losing huge sums in Bitcoin. Let’s take a look at the three most dramatic stories of people who lost a fortune
Investor Derek Rose lost nearly $ 10 million in Bitcoin
His story begins when he decides to invest all his savings in cryptocurrency. His initial actions were very smart when he did a lot of research and wisely decided to wait in the long run. So he bought a lot of Bitcoin for $ 500,000 from Bitfinex (BTC price was $ 8,000 at the time).
Then the price has risen to over $ 15,000 within a few days. With this excitement, he also buys Bitcoin, and by the end of December 2017 he had about $ 7 million, and for every $ 1,000 increase in BTC, he made about half a million. At one time, his account reaches $ 100 million.
Now, here is the sad part
Rose bought the first Bitcoin in 2013 when the price was under $ 100. But when he moved from New York to New Zealand shortly thereafter, he went into debt and so to pay off these debts he had to sell many of his Bitcoins, which means he almost lost everything.
In May 2018, when Bitcoin hit $ 2,000, he decided to fix the mistake he made by not holding his tokens. So he invested all his money from his American pension profile. Unfortunately, BTC continues with the bear market from 2018 to the present.
In 2012, John, an American college student, buys around 10 BTC and gets a private key for tokens placed on a USB device. At the beginning of 2018, while it is non-stop in motion and constantly moving from one place to another, he accidentally leaves one of his bags together with the essential USB. John was looking for it, but he could not find it, so she lost about $ 100,000.
In 2009, a miner called Alex digs about 1,000 BTC and puts private keys on a USB drive. Several months later, some technical errors made him format his computer and knowing he had a backup of all his information, he decided there is nothing to fear. When the price surges to $ 18,000 at the start of 2018, he decided to search the USB device quickly to retrieve the private keys. Unfortunately, the hardware is corrupted and becomes unusable.