'Stupid Money' Account Lost $2 Million in USDC in Half Year, Here's How Not to Trade Ethereum

This 'stupid money' account may be a lesson for anyone willing to actively trade $ETH or other crypto

price has prompted some investors to engage in risky behavior. Many have blindly followed the trend, buying into Ethereum after the price has risen and panic selling when the price drops. However, such actions can be dangerous and result in significant losses.

A recent example of this is a trader who purchased 7,135 ETH with 12.25 million USDC from Sept. 9 to 12, 2022, when the price of Ethereum had risen by 10%. Unfortunately, the price of Ethereum began to drop shortly after, and the trader sold all of their Ethereum on Sept. 16 in a panic, receiving only 10.51 million USDC for it. This resulted in a loss of 1.74 million USDC in just one week.

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