Many cryptocurrency players have gone bankrupt
As I said in this year's new futures market
Such speculation has already allowed many former winners to Departure .
What do you mean by "cryptocurrency players" or do you mean by investors? Here lies the problem with most investors at the moment: they seem to jump the hype train caused by media and they got influence into investing their money when the prices were skyrocketing.
Last December 2018, the prices reached an all-time high of $20,000 and some speculated that it might even break records reaching $1 million per coin. These newbie investors invested their money WITHOUT even doing their research and study in the market, thus losing most of their investments when the price suddenly drop.
Many of them went bankrupt because they could not choose a good coin, many also bought only because they wanted a high increase regardless of the quality of the coins they bought, and when the market went down the coin coin would go down even further, ending in cut loss. So the suggestion is that I buy coins that have a clear project.
Or shall we say that many became bankrupt because of their emotion and intensive selling at loss?
They can't take the risk that they have taken after investing to crypto's. All they think was after investing, they'll see their money grow on their wallets without knowing that there's a risk.
Lack of knowledge led them to get into that situation, I felt sorry for them but that's how it goes when someone isn't prepared of what he's taking and investing with his money.
Most investors who lost a significant portion of their investments were the ones who invested when the prices are still at high. They did not do enough study and research on the market and ONLY followed the hype train caused by media and other influencers. Unfortunately, they are also the ones who spread news about 'bitcoin's death' or 'bitcoin is dying' kind of news.