2 Years ago I was in Engineering 2nd Year. I had some savings and was looking to invest all my savings of about 35000 rupees anywhere. I looked all over the internet, studied about Fixed deposits, Mutual funds schemes, Stocks, options trading and later I found out something cool called BITCOIN. Before Investing, I studied the change in prices over a month in www.preev.com. The price of one Bitcoin changed from 150 USD to 200 USD within a month. Finally, I decided to invest,contacted a local seller bought 3 BITCOIN with all the money I had. It cost me around 600 USD which is equivalent to 36000 rupees (assuming 60 Rs per USD)
After 2 months Bitcoin value has increased to 500. I was very happy that my investment got more than double within 2 months and if it continues to increase at same rate it would reach 1000 USD also. I was so curious about the movements. Even when I was in class, I used to open www.preev.com and check the prices every hour. I read articles about it, studied Factors that contribute to value of Bitcoin, Mining and every single news about Bitcoin. While I was doing all these one day I found an article saying that Bitcoin may reach 5000 USD before 2020. First. I thought it was fake but looking over the movements in that past 2 months I thought it is quite possible. I spent few nights thinking.After spending some sleepless nights and lot of thinking I decided to keep all my Bitcoin till 2020 and didn't check the price for a week.
After a month I was at home watching a movie and suddenly realised that I haven't checked the price of Bitcoin over the past 4 weeks. Immediately opened www.preev.com. There came the price with a boom. I was shocked. The price dropped to 220 USD. I was completly disappointed, scared that my if the price falls down more I may even loose my investment. I didn't give a second thought immediately contacted a buyer and asked if he can buy them. He said yes but his price was 205 USD per one BTC (BITCOIN). I was comfortable with the price because I thought at least I would get back my investment with some little profit. I sold them at 205 USD and for 3 BTC it is 615 USD. I have got around 37000 rupees . That means 1000 rupees profit after few months.
Now fast forward to 2017, I have completed my engineering also. This is the value of Bitcoin today. If I hadn't sold them at that time the current value would be (11 Lacs INR) approximately.
This is the biggest regret in my life. Now every time I see few Facebook posts about people who turned out billionaires overnight with BitCoin, I pity myself for taking such a stupid decision where in making money online is vivid imagination these days.
Great lesson....unfortunately....especially when we are younger....we panic sell things since we don't have a history of having lived through all the cycles in all types investments....people have made millions in stocks....real estate etc. and lost millions as well...no investment is guaranteed....you need to just believe in its long term possibilities to hang in there regardless.....
I think its still worth having as part of an investment portfolio regardless of current price....but that's just my opinion....
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