It is common knowledge that the crypto market offers opportunities to make a lot of money quickly. In recent years, there have been countless projects that have skyrocketed by thousands of percent in a short period of time. Such stories are often the reason why people enter the volatile crypto world.
In 2021, a Dutch couple saw the value of their crypto investment increase from 3,000 euros to 240,000 euros in just a few months. It is one of the many success stories within the crypto landscape, from which a huge lesson can be learned.
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Increase in value of telco makes couple rich
A story has emerged about a Dutch couple, Max (34) and Marcelle (35), who saw their crypto investment turn upside down dozens of times in a short period of time.
The lovers decided to invest an amount of 600 euros in telcoin (TEL) at the beginning of 2021, when the crypto market was at the beginning of a booming bull market. The investment immediately turned out to be an excellent move. The price immediately rose by hundreds of percent, and the couple increased their bet on the way up to a total of 3,000 euros.
In April of that year, the altcoin then shot into the sky like a rocket. In mid-May, the token reached its highest point ever and the value of Max and Marcelle’s stake suddenly stood at an astronomical 240,000 euros.
What is often missing from success stories like this is the question of whether money has actually been paid out. As Max indicated in 2022 in conversation with the PorteRonee podcast, greed quickly takes the upper hand after bizarre value increases like these.
”It’s crazy how greedy you become when you see money growing so quickly. I guess it’s a bit like gambling. If you know that you can make more money from money, you continue.”
The couple never sold their stack of TEL tokens, so the profits never actually made it to their bank account.
Max and Marcelle’s story teaches crypto investors some important lessons. How quickly a cryptocurrency can increase in value, how quickly it can swing back in the other direction. In just a week, the total value of the couple’s telcoin pile fell from 240,000 euros to 160,000 euros.
Looking at the investment of 3,000 euros, this would of course still represent a disgusting return. However, there is a good chance that, like Max and Marcello, you will hold on in the hope that your investment will rise again to at least above 200,000 euros.
Emotions simply play an important role in investment decisions; especially in the extremely volatile crypto world.
Important crypto lesson
Max and Marcelle have now learned their lesson and have decided to do things differently now. The couple has made a clear plan for how much they will cash out if the telco’s price reaches certain levels. By making clear rules in advance, you as an investor can make rational decisions instead of emotional reactions to market fluctuations.
The couple also advises people to read up on crypto projects before investing in anything:
”Make sure you know what you’re doing. Read up and be informed. When we invested the first € 600, we had little knowledge, but after that we started to delve deeper into the matter. It remains a gambling game, so only do it with money you can really afford to lose.”
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