Everything is the effect of social media because now most of the people are using the internet and using social media and the promotion of trading and gambling is increasing widely. Along with the advertisement of the platform, many traders are sharing their success stories and seeing them, many new traders are encouraged to trade. Although encouraged, they are basically unaware of how difficult trading is and how risky trading is. The results of trading without knowledge of these are very dire for them.
Yes, social media really has a huge effect. Starting from advertisements or screenshots on social media. People think that it is very easy to take advantage of trading. In addition, many influencers explain trading techniques as if it is very easy, so people do not hesitate to take risks.
I recently came across a case where there was a child who was holding onto his family's money, and he felt that he could increase that money through trading. However, the facts he got were completely beyond his imagination. The money quickly dwindled, and he panicked. Well, he posted on social media that he was also interested in trading because the profit posts really attracted attention. Apart from that, the case described by the OP may also have started out the same. that his friend had no qualms about using all his savings. Well, if he is interested, he should start with a small amount of capital that he can afford to lose.