Cryptocurrency markets in the red: The story of a rookie trader
Cryptocurrency dip. Source: Stears Business

If you only learn one thing from this article, let it be this: you are very unlikely to get accurate crypto investment advice from me or any of your friends.

All I can see is red. 

Wednesday was a very rough day for individuals involved in the cryptocurrency space. Many people who bought into the hype of assets that supposedly only go up were brought back to earth as bitcoin plunged from $43,000 at 12 am to $30,000 by 2 pm on the same day—a 30% drop. 

“Get out of bitcoin before bitcoin swallows you.” “I stepped in with a thousand, next thing I know, ego my dollars [became] 50 dollars. I nearly lost my mind.”

These were the words of Nigerian musician Speed Darlington in a video that surfaced on social media this week. It accurately describes how most people felt, especially those who had bought into cryptocurrencies for

This story is only available to Premium subscribers Subscribe or sign in to finish reading

Not ready to subscribe? Register to read a selection of free stories

Tokunbo Afikuyomi, Jr.

Tokunbo Afikuyomi, Jr.

Read Latest

How Nigeria’s lawmakers enabled its fiscal crisis

PREMIUM - 03 FEB 2023

3 risks for Nigeria’s investors in 2023

PREMIUM - 02 FEB 2023

Why Nigerians abroad cannot vote during elections

PREMIUM - 01 FEB 2023

Will Ibom Power’s new license improve Akwa Ibom's electricity?

PREMIUM - 31 JAN 2023

Download our mobile app for a more immersive reading experience

Scan QR code
mobile download