Crypto market crash prompts suicide concerns

[Reality]

Crypto market crash prompts suicide concerns
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On Tuesday, the 20 largest cryptocurrencies by market cap all fell by 4% to 10%, with ether, token of the smart contracts platform Ethereum, taking the biggest hit, down to about $250, its lowest price of 2018. Ether was above $1,200 in January.

By Wednesday morning, coins were rallying slightly. But volume remained low, a possible sign that coins have still not seen the worst of this correction.

The losses have some crypto believers in serious emotional distress. On Tuesday, one of the top posts on the popular bitcoin forum of Reddit was information for suicide prevention hotlines.

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Bitcoin is down 57% in 2018 so far, ether is down 67%, bitcoin cash (BCH) is down 80%, stellar lumens (XLM) is down 60%, and ripple (XRP) is down an eye-popping 87%.

The overall coin market has lost more than $600 billion in value in the last 8 months.

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[YosemiteSam]

My ex-wife told me she was going to buy some RXP at around .80 (this was after the rise to $4)

I told her don't do it because the guys running it weren't trustworthy and a lot of the positive news coming out about it was all coming from them or astroturfing by them.

She text me a while back thanking me for that advice hah. It's under .30 now.

If something appears to be the next big thing. Let it be. Their is way more risk being in on the ground floor than there is investing in a known blue chip investment.

 

[Rockport]

Was just a matter of time. Blockchain technology is where to invest.

 

[GMO415]

There's several factors that could cause a suicide, financial stressors being one of them..

Suicide is a process and no one just snaps.

 

[lukin2006]

I wish I knew more about investing in the stock market?

 

[GMO415]

I wish I knew more about investing in the stock market?

Years back I used to day trade. Key word used to

 

[Rockport]

I wish I knew more about investing in the stock market?

Us laymen shouldn’t invest and leave it up to the experts. They know how to protect you during a down market and help you during the opposite.

 

[YosemiteSam]

Years back I used to day trade. Key word used to

Especially the day trading part.

Investing is definitely a good thing to do. If you don't know much about it. Look for low cost index funds and invest whatever you can monthly, but don't stare at the markets. They always go up and down.

That said, right now we are primed for a massive down turn. The the GDP to Market Capitalization is upside down. (ie, we have more money invested in the market than the entire GDP!)

We are way over the 2008 numbers and only out-done by the dotcom bust which skyrocketed up really fast and flipped like a boat in a storm! Let the bust come and start getting back in when the market cap is closer to 70-80% of the national GDP.

For now, I would yield to the coming bear.

 

[Longboysfan]

No money. No worries.

 

[Corso]

I wish I knew more about investing in the stock market?

Not right now...

 

[Corso]

No money. No worries.

No money, no problems.
I think Ma$e and P-Diddy sang that...

 

[Doc50]

No money. No worries.

No woman, no cry.

 

[lukin2006]

Not right now...

Is it not a good time?

 

[Corso]

Is it not a good time?

Investing is good, but this market is crazy volatile right now.
If you do, don't day-trade, unless you're very savvy about what you're doing.

Otherwise... invest in real estate.

 

[lukin2006]

Investing is good, but this market is crazy volatile right now.
If you do, don't day-trade, unless you're very savvy about what you're doing.

Otherwise... invest in real estate.

Funny you say real estate. My Divorce lawyer told me to look at investing in mortgages ... that's what he does, he earns around 10%.

 

[Corso]

Funny you say real estate. My Divorce lawyer told me to look at investing in mortgages ... that's what he does, he earns around 10%.

I'm telling you...

 

[lukin2006]

I'm telling you...

Do you agree? If so, How does one invest in mortgages? I appreciate your advice, Thank you.

 

[Corso]

Do you agree? If so, How does one invest in mortgages? I appreciate your advice, Thank you.

First - either get yourself a pro to help, or immerse yourself in the education of this interest for a hot minute.

 

[Rockport]

No woman, no cry.

That's about the best thing I've ever heard here.

 

[lukin2006]

First - either get yourself a pro to help, or immerse yourself in the education of this interest for a hot minute.

Maybe I'll get a pro ...