We have all been there at some point, investing in cryptocurrencies with little to no understanding of how they work or why they even exist, with hopes to become rich overnight. But the Newbie took it a step further. He sold his car, his house, and his dog to invest in shit coins. Without any proper research or investment plan, he went all in and dived headfirst into a market he did not fully understand.
Accompanied by fear of missing out, he followed some TikTok influencers and YouTube shillers. After a quick glance at the graphs, he decided to invest in a shit coin that he has been mooning for the past few days. Led by emotions and irrational decisions, he invests more than he is prepared to lose. His investments quickly double so he decides to wait a bit longer. Driven by greed and emotions he believes that he is on his way to financial freedom only to realize that the numbers on his phone are starting to turn red. He starts panicking and tries to sell everything, but it is too late.
In an attempt to fix the mess he takes a loan from a bank and tries his luck with leverage trading. Inexperienced as he is, he gets REKT in the process. With his last cent spent and the bull run over, he has no other option but to move back to his parent’s basement and apply for social security benefits.