I recently got into crypto (end of april), and after finally figuring it out how to purchase and transfer cryptocurrencies to wallet I felt I was doing great.
I was in the green with all my crypto and of course I felt I had everything figured out. I was in it for the long haul (I still am for that matter). I followed advices from all of you guys. Did not invest more than I'm afraid to lose, and set dates to buy more once a month as a type of savings with a chance to boom.
As I was talking about it with my best friend I said that I think it is great to be investing in crypto and that I believe there is a future for cryptocurrencies my friend FOMOd hard. I did not know at the time, and I told him that I invested maybe 1/7 of my monthly salary and that I think that crypto is still pretty much gamble, my friend went and got a loan and bought BTC, ETH and DOGE as his wife likes dogs ( I know, his reasoning is astounding).
I own ADA, ALGO and VET primarily and am looking to enter BTC and ETH after we sell our old car ( car is worth maybe 800$) so still it wont be great positions and I told my friend that so I can't fathom doge.
He got a loan with a big interest as those are high for a loan without purpose, don't know what those are called overseas (there is a loan to buy a car or a house that have low interests rates), bought a lot of crypto and is now massively in the red, I feel responsible for even mentioning crypto like a utter newb.
Now I know that I don't know shit about crypto but I feel sad for my friend and hope we see green soon.
Tldr - talked about crypto with my friend, he went haywire and got a loan and bought BTC, ETH and doge at ATH.
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