Many First Time Crypto Investors Have Been Hurt By The Bear Market.

When Bitcoin was approaching its ATH back in 2021 there was a massive increase in the attention the crypto industry was getting. The news of several other cryptocurrencies doing ×1000 and above and other popular ads by celebrities for crypto firms kinda got quite alot of people to start asking about how they could get into cryptos and make some good cash from the market as well. I can remember how I got so many messages from prospective crypto investors ans gamblers about which crypto to buy that would multiply faster and since it was the bull market, it wasn't so difficult to point in any direction since almost every crypto would do great.

Fast forward to this day, quite aloy of these new / first time investors are no longer in this space, many sold off and abandoned the market because they couldnt keep watching the dollar value of the cryptos bought with their hard earned money dwindle as each day went by. Many actually still hate the industry for "what it did to them" and believe it's probably a scam.

But the reality is that many if not all of us have been here and have passed through this stage either in our early days or even now. Witnessing the bull market and bear market is kinda a ritual which makes us understand better how the market works, what actions we should and shouldn't take, and how to react to certain market situations.

Many first time investors have been hurt by the crash because no one told them about its existence, how volatile the market could be and how hard the cryptos they were holding could crash. Other activities that have caused some hurt are the fact that many have fallen to victim to scam projects as they tried to find shelter from the crash. I personally know some first timers who bought some shitcoins promising a x10000 increase and now they've lost almost everything they've invested.

The crypto industry as I know it isn't one that favours most first timers, but like the saying goes, there's a first time for everything and most first timers learn the ways of the market, adjust to it and later become invincible. Crypto as I know it is certain to pay off when we stick to it long term and not when we have a mindset of hopping in to make some quick bucks with no prior knowledge of how it works. I hope many first timers get to share their sucess stories with cryptos in the future and hopefully it would inspire more first timers to join and learn the ways of the cryptoverse.