TL;DR
Bitcoin’s meteoric rise and fall mirrors past financial crises. Driven by hype and greed, ordinary investors got burned while insiders profited.
Story
John’s not alone. Thousands watched their retirement vanish overnight. The promise? Unprecedented crypto returns. The reality? A rug pull of epic proportions. This isn’t new—it’s the same old greed dressed as innovation.
How did it happen? “Experts” hyped Bitcoin, creating artificial demand. Prices soared, fueled by FOMO (‣ Fear Of Missing Out: The anxiety that drives irrational investment.) and blind faith. Then, the insiders cashed out, leaving ordinary folks holding worthless digital tokens.
Remember the 2008 housing bubble? Same story, different asset. Inflated values, predatory lending (‣ Predatory Lending: Loans designed to trap borrowers in debt.), and a system rigged against the average Joe. History doesn’t repeat, but it rhymes. Crypto, like the housing market before it, became a house of cards built on speculation, not real value.
What’s the lesson? If it sounds too good to be true, it probably is. Don’t fall for the hype. Do your research. Diversify. Or, you might end up like John—wondering where your life savings went.
Advice
Don’t chase quick riches in volatile markets. Slow and steady wins the race. If you don’t understand it, don’t invest in it.