There are many things you may want to be, but Mike should not be in the list. Mike is a hopeless gambler who gambled his entire life savings away, lost friends and destroyed his family. How did it happen?

Mike And His Gambling Habit

Back in high school, Mike would use some or his feeding allowances to gamble. He never made money at any time. After much help from his parents and his therapist, he soon overcame the habit. At least, everyone thought he did.

Teo years passed after completing his University degree with no job. He soon began to hangout with people like him who take drugs and gamble. Before you know it, Mike got back to his old ways of gambling.

Mike Dabbles Into Crypto

Mike found out about crypto in 2021 at the beginning of the bear market. His first crypto knowledge came from a YouTube video that said DOGE was going to $1. The price of DOGE was at $0.25 at the time. With a 4x in view, Mike invested some of the money he had.

The price of DOGE dipped by 10% from where he bought, causing Mike to panic. He paper handed his bags and sold at a loss. He bought some NFTs on Solana with what was left. The project rugged, and Mike was left with a worthless jpeg.

A friend told him he could make money both ways through leverage trading. So, he took a loan and started trading. He learnt how to long and short the market. He was also told to use high leverage if he wants to make more gains.

Boom! Mike opened a 50x long on SOL with no stop loss (they didn't teach him that) . Price dumped by 5% and he got liquidated.

The End For Mike

His wife had warned him repeatedly about what he was doing, that this isn't how to trade crypto. One day, one argument after the other, he smacked his wife in the face, and that's how his wife left him.

Mile is now in huge debts, no friends to turn to, and his wife has left him. His house rent will expire in 3 months.

How can Mike get out of this hold? Please advice.

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