Is over 3 months now btc is experiencing lost, in my little way I use 1 million naira to invest and ever since then I don't feel like sleeping because my money keeps dropping every now and then, I don't know how long this drops is going to continue because am scared the little money I thought will built empire is shrinking to 200k. Please what's causing these deflection of cryptos and markets. Or should I remove the remaining balance?
You are obviously lying. 3 months ago till today, you can not lose 5x in Bitcoin.
You posted that you invested 1 million naira and you are losing 800,000 naira as the money shrinks to 200,000 naira. That is 5x in loss. That is obviously a lie. Bitcoin got to $112,000 all time high and now at $108500. If you invested when bitcoin got to all-time high, you are only losing less than 32,000 naira.
Why this lie?
Or you are trading instead?
I can't speak on his behalf, but I had some people who lost all their money too, and mainly that was either shitcoins, or if it was bitcoin then it was leverage. They keep buying longs and shorts and do 100x leverage, and then they end up with basically nothing in the end. No need to keep this up, and if you end up doing 100x leverage as a newbie than the most possible thing is you losing all of your money.
So it makes sense that his margin call made him lose 800k naira, and that would be a lot more trouble. So this has to be the most troublesome situation for these people, they do not realize how sensitive futures trading is, and if you are not really awesome at trading, then losing that much could take just 1-2% drop in price and you would lose it all.
Futures trading isnt for everyone or even lets say that you've been that doing spot trading for long time but still it wont be that enough for you to become that master on futures trading on which considering into the leverage that involves then it would be that too risky for someone to have such dealing. If you dont know on what you are doing then its better not to touch up futures and stick with spot. The only main issue on here is that there are those individuals who are that very that too impatient when it comes into their trading profits and they do tend to jump in with leverage and ending up on busting up bigtime and never been able to make some recovery. They would be only making out those kind of realizations when they are already that on actual situation. Drops could cause panics but thats if you arent that prepared for that or you've been that expecting something positive with your trades and didnt expect for you to lose or experiencing those opposite directions on which this could likely happen anytime at the moment that you do trade up.