I Lost More Than Half of My Portfolio in 2021

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2 years ago
Topics: Myself, Blog, Writing, Journal, 2021, ...

The year of 2021 gives as lot of opportunity to me when it comes to finance and I would say that I have learned a lot of things throughout the whole year. I had a lot of ups and downs and I think my “downs” gave me a lesson and regrets after losing a lot money due to bad investing. I thought I will have a good year but in the end of the year, I realized that I had a lot of bad investments and lost a lot instead of gaining a profit.

 Those were all due to my greediness and foolishness after investing on shit and meme coins, rug pull projects, FOMO, and even getting scammed from my investment. Nevertheless, I think these events are inevitable especially if we are talking about money and investing.

The following are the coins, tokens, and projects that I invested where I lost a lot…more than half of my portfolio.

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BAKE – FOMO

I got a huge profit from this token, I bought it when the price was $0.30 and it rise up to $8. I can say that I am one of the lucky people who got an exposure in this project…but to be honest, I haven’t research a lot about it. When I saw its price which is 30 cents, I took the risk and decided to buy it in the lowest price. Fortunately, I got lucky…but…

Although it reached $8 per BAKE, I did not sell on its ceiling price because I had a paper hands. I decided to sell it when the price was $3…but don’t get me wrong, I still got a profit from it. 

The only thing that I regret was I got FOMO when it reached $8 because I decided to buy back when the price was $7 and unfortunately, the price continued to decrease. In the first hour, I thought it was a healthy correction but then everything became worst when Elon Musk stopped accepting Bitcoin as a payment on Tesla. 

The bear market started and until now, I am down. It is funny that the I lost the profit that I got quickly. Nevertheless, I am still holding BAKE and currently staking on Bakery Swap.

Additionally, I also bought a token related to BAKE which is the PET and WEAPON token. They are the tokens used in the game Battle pets. But during the bear market, we never heard anything from the developers and I am down to -95%.

JulD – Shit coin

I am really not familiar with this token until I have read a lot about it from my friends where they wrote and published an information about this token. I got hooked and decided to invest without proper research. I don’t even its purpose and road map. 

In the first minute after buying the token, I was excited because the price is really increasing but I didn’t sell it because I was thinking that I will experience the same thing with BAKE where it increased to $8.

Unfortunately, it was only a temporary increase of the price because after few more hours, the price gradually moves downward and did not goes upward again. Until now I am holding the token and I don’t know if I have plans to sell it because I will only get more losses from the transaction fees.

Plant vs Undead – Rug pull project

I was not really expecting how this game will end up after its hype for weeks. I am hearing about this game for a long time and even watch videos from YouTube about the game. I also saw some of my Facebook friends who plays the game and I heard that they are getting a good profit from it. I was hooked and came along with the hype. I decided to buy my own plants and bought some PVU tokens for an investment.

 I monitored the total investment that I used for the game and it is actually high when you will convert it to our fiat currency. I was excited and harvesting good amount of PVU, the game was actually easy, no need to use your mind because it is just watering the plants. Then, they announced that the PVP mode will soon-to-be release and they will have a “plant cloning” event where they will duplicate the plant that you have. One for PVE and one for PVP. 

At this point, my greediness controlled me, I bought more plants and I made it exactly 5 plants. After the plant cloning, they officially released the PVP mode but the price of its in-game currency started to drop after of their update; they said that there will be new chain in the game…the PVE will use BSC and PVP will use another (Factory Chain if I am not mistaken). It has also different in-game currency and the price of PVU started to drop because most of the investors said that it will be useless if they will use different currency in PVP.

Also, in my opinion, the concept of PVP is not what I actually expect. They decided to put a number of use to the plants that you have. It means that if you used all of its usage, you cannot use it again and you have to buy another plant to use in PVP mode which is actually not profitable since it is hard to win in PVP and will end up in having more expenses than earning.

Nevertheless, the game is still ongoing and developers are still having updates. But I would say that the project is almost dead because most investors already pulled out. Maybe I will make a separate blog where I will explain everything in detail.

Conclusion

Looking from my mistakes, there is only one conclusion that I can say; I am still a noob when it comes to investing and I only rely from hype and other people. I am also lack of research and knowledge.

Hopefully, my mistakes will serve as lessons to avoid the same thing in my future investments. I will just consider it as my charge-to-experience even I feel that my whole year was in vain.

Published: March 8, 2022

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2 years ago
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Comments

This is one of the reasons why I do not dive to new projects because I am scared of rug pull. Nakakatakot mawalan ng pera pero ganun pa man, we should never stop researching more good projects talaga.

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2 years ago

Lesson learned na lang talaga risk management din haha

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2 years ago

Gahhh, to those shit tokens I can very much relate to thay. May Juld din ako till now, down pa rin may isa xvs ba yun. Auin nakatengga lanh sila sa wallet ko same sa CUB and CAKE tsk. Talagang halos malusaw na sila lahat re 🥲

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2 years ago

Ay diko pala nasama xvs hahaha meron din ako dun because of the airdrop.

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2 years ago

I feel you madami din akong lost ngayon sa mga Tokens huhu 🤧 Hays Pero i will consider nalang din to as a lesson. Ayaw ko na talaga mag trade HAHA

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2 years ago

Hahaha kung spot trading okay lang naman as long as maganda din project. Daming trade na naipit pero nakahold baka sakali e😆

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2 years ago

Half of the portfolio... until now 😆

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2 years ago

It's hard to recover 😆

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2 years ago

At least you are learning from your mistakes, but don't worry I think everyone has made them. I once bought a lot of bunny, the platform got hacked and the value went to 0....

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2 years ago

Sad, we can't do anything but to learn and move on.

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2 years ago

No worries.. I think you'll earn some money in this year. Try to invest in NFTs project. It will give you much benefit than other project

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2 years ago

I am not that lucky with NFT, can't sold them.

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2 years ago

Why? I can make profit from NFTs.

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2 years ago

In smartBCH?

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2 years ago

Lol still profiting in SmartBCH

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2 years ago

You are lucky to get at least profit once from the token you invest I am the one who is very unlucky and always bear a loss But never mind I will not stop investing lol

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2 years ago

Me too, I will invest and learn to manage the risk.

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2 years ago

Yang juld fo take yan. Hahaha laki din loss ko jan. Pero sa BAKE naman naka gain ako mga $600 jan.

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2 years ago

Malaki din profit ko sa BAKE kaso nagbuy back ako sa mataas tas bumagsak kaya parang wala din😆

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2 years ago

Bake at TKO malaki kong kinita nung 2021.

PS. Penge naman layk sa article, hirap bagong account tsaka di naglalayk at koment back iba. Please nato 🙏

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2 years ago

Ay okay okay

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2 years ago

Thank you 🙏

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2 years ago