It's been over a year since last summer's crypto crashes, and investors who lost on the digital currencies are still licking their wounds.
It's been just over a year since last summer's crypto crashes, and investors who lost out are still licking their wounds.
One young crypto enthusiast, 22-year-old software engineer Ethan Nguonly, reflected on his crypto lossesthis week, explaining to the broadcaster that back in 2021, he invested — on margin — a sizeable $40,000 into Bitcoin and Ethereum, while picking up some dogecoin on the side. At the time, the market was soaring, and Nguonly was soon emboldened to pour another $15,000 into Bitcoin., he was up an impressive $50,000 from his initial investments.
in the process. Nguonly, for his part, tallied a staggering $80,000 in losses, a figure made worse by the young engineer's risky decision to borrow in order to invest.. "Once the crypto market kind of reversed, my losses were amplified."Though $80k is a lot of cash to watch go down the drain, it's worth noting that Nguonly, though he's quite young, seems financially resilient.
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