Meet Jack.
A few months ago Jack just lost more than $6 Million worth of Bitcoins. Not because his account was hacked or stolen, it was because of pure greed and ignorance...
So a few months ago Jack has more than 600 BTC and now he has only about 214 BTC. At today´s price that is a WHOPPING $6 Million of lost money!!!. What the hell happen???
Jack invested much of his BTC into Alt Coins. In the beginning he invested a bit of his BTC into a couple of Alt coins and those coin went up right away and that made Jack happy and he bought more and more until his portfolio consisted of 80% Alt coins and 20% BTC.
He didn´t even think to balance his positions in those coins or even did research on those coins. Whenever he heard some new coins and the price was going up, he went straight into buying it. Everything seems fine at the beginning until one day ALL of his Alt coins went down and wiped 66% of his capital!!
Regret always came too late and I hope he took a lesson from it. And for us, we all should learn from Jack not to make the same mistakes of:
- Not doing a research on the coins that we would like to invest
- Not making a plan and stick to it
- Always chase the price
- Not building a diversivied portfolio
- Not using an equal positioning size on the portfolio
ALWAYS invest with the money that you can afford to lose and ALWAYS rebalance your portfolio. Rebalancing means taking some profit from one investment to buy another investment that currently going down or buying new investments..
Please share your thoughts and comment below. I would appreciate your upvote and re-steem this article...
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Jack is still a multi millionaire and its a perception of reality....Losing 6 million to jack is like me losing $500.....and hopefully jack is continuing to learn as we all are.....good read
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never stop learning, thats what jack want
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Is Jack real?
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he is, but his real name is not Jack...he chose to share his story not his personality
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