Recently, one of the users of the social platform Reddit under the nickname Parking_Meater shared a sad story. His wife left after the cryptocurrency hobbyist decided not to sell his bitcoins as the BTC hit the $ 60,000 mark .
Instead, the husband decided to further increase his crypto assets by purchasing bitcoins during the recent market crash.
Investing in cryptocurrencies is associated with enormous risk and pressure on the psyche of investors, and the latter can be especially noticeable in their personal lives.
Note that the passion for cryptocurrencies and active investment in them can really harm a marriage. In the first half of the month, we learned about an archived post on Reddit that was posted by an anonymous user of the platform in 2015. In the post, the woman talked about how she persuaded her husband to get rid of bitcoins as their rate grew.
However, he not only did not do this, but also used the funds to purchase cryptocurrency after the collapse of the exchange rate. Be that as it may, the girl did not appreciate the investment ability of her husband and even called him a «drug addict.»
We believe that such problems can be avoided, but for this you need to try. In particular, it is necessary to explain to the cohabitant the advantages of cryptocurrencies in the form of decentralization, limited maximum supply of some coins and fixed emission rates. In addition, it is necessary to give the example of central banks and governments that, in times of dire need, print money in large quantities, thereby reducing the value of the existing money supply.
Apparently, none of this was done in this situation.
Bitcoin investment challenges
In a post titled “My wife is leaving because of Bitcoin,” the user said that his wife packed up and went to live with her sister after she caught him buying even more coins. Here is one of his quotes from Cointelegraph.
She just went to her sister. She is very angry that I did not sell Bitcoin for 60 thousand dollars, and looks at the price, often scolding me. I tell her all the time that we do not need money, but we have cash. We live well. However, she caught me buying a correction today and got so pissed off that she almost hit me! Now she packed her bags and went to her sister.
It is not known whether the wife of a blockchain fan has experience in trading, but her intuition did not disappoint: if Parking_Meater had followed his wife’s advice, he had managed to avoid losing about 15 percent of his assets. This is exactly how much Bitcoin has fallen to today since it reached its all-time high.
However, the investor did not get rid of the cryptocurrency, so he will probably wait until a new maximum is reached. In addition, he bought coins on the collapse, which has already allowed him to gain profit specifically for this transaction. Note that the ability to buy an asset when its rate flies down is the main key to success in investing. At the same time, newcomers do exactly the opposite: they do not sell cryptocurrencies after growth due to greed, but after falling below their purchase level, in a panic attack, they drain coins and fix a loss.
Naturally, after this, in most cases, a rebound follows, which forces them to open positions at higher prices. And although it sounds suspicious enough, it usually happens that way.
However, the author of the post under the nickname Parking_Meater is not overly concerned about the situation anyway. His post ended on a positive note.
She told me not to talk to her anymore. Not sure where to pick up the girls in my Lambo?
Obviously it was a joke, but the logic of the investor is clear. He does not doubt the correctness of his own investments and hopes to leave the niche only after reaching new highs. This, in theory, will allow you to buy a sports car.
We believe that insufficient communication was the cause of the stated problem. Still, the advantages of cryptocurrencies – especially in the current pandemic and government activity – are quite obvious. However, they are not easy to convey: especially to a person without investment experience and understanding of the prospects of blockchain. Therefore, in such situations, it is worthwhile to devote time not only to buying assets on collapses, but also to explaining the essence and reasons for your actions to loved ones.