I bought Elastos when it got it's first big publicity during the "Binance monthly poll" early 2018. I read the white paper and did my DYOR on the team members, their vision and roadmap ahead ,everything was very promising . I cast my vote for Elastos with the joy of discovering a gem. Elastos won the poll. But then started a series of mishaps one after another . Binance disqualified Elastos for giving kickbacks to voters . Even though rewarding voters to vote for specific tokens was a common practice in all previously conducted monthly polls on binance , it created unhealthy competition and binance decided to put an end to it . Elastos team disagreed with binance decision and protested by boycotting binance.
In the following weeks and months Bitcoin started falling from one support level to another , ELA too started falling along with it.
Then came locked token unlocking controversy and ELA price took a deep dive as a direct result of that controversy ,I held throughout all of that debacle . I kept buying more ELA to average down the cost. The community was high on optimism,there was promise from the team that ELA will be listed on more Exchanges . There was news of new partnerships every single week. Elastos team went on a World tour conducting seminars. I was hopeful that Elastos will recover because the fundamentals are strong ,but it kept falling through support lines. At $25/ELA the community sentiment was that it's a "good bargain" ""absolute steal" "dirt cheap" to buy ELA . I bought my biggest purchase at this level doubling down on my belief that ELA wont get any cheaper than that.
Bitcoin bear market came in full swing .BTC lost Critical support of $9000 then $6000 . $ELA fell flat $15 ,$10 & $5 .I'm not a rich person .I ended up investing more than i originally wanted to invest in crypto as i tried to DCA. I was devastated along with all other investors who invested in this project and cryptocurrency in general. Finally i threw in my towel and sold everything.
My biggest regret is that i also had a huge bag of BNB along with ELA as i originally came from Binance to Huobi . I sold BNB at its bottom just before it rocketed to ATH . If i had held my BNB it would have wiped off all my loss .But because of my discontent with Elastos i sold BNB too along with ELA .
I don't blame elastos team or anybody for my loss ,ultimately it was MY decision.I took the risk and unfortunately things didn't go well . Crypto is inherently high risk asset class and i take full responsibility for my loss and lack of knowledge in this sphere . Like Nietzsche said "What doesn't kill you , only make you stronger" .It has been a great learning experience and sets me up in future to make better decisions.
Binance CEO CZ's tweet [now deleted]
In the following weeks and months Bitcoin started falling from one support level to another , ELA too started falling along with it.
Then came locked token unlocking controversy and ELA price took a deep dive as a direct result of that controversy ,I held throughout all of that debacle . I kept buying more ELA to average down the cost. The community was high on optimism,there was promise from the team that ELA will be listed on more Exchanges . There was news of new partnerships every single week. Elastos team went on a World tour conducting seminars. I was hopeful that Elastos will recover because the fundamentals are strong ,but it kept falling through support lines. At $25/ELA the community sentiment was that it's a "good bargain" ""absolute steal" "dirt cheap" to buy ELA . I bought my biggest purchase at this level doubling down on my belief that ELA wont get any cheaper than that.
Bitcoin bear market came in full swing .BTC lost Critical support of $9000 then $6000 . $ELA fell flat $15 ,$10 & $5 .I'm not a rich person .I ended up investing more than i originally wanted to invest in crypto as i tried to DCA. I was devastated along with all other investors who invested in this project and cryptocurrency in general. Finally i threw in my towel and sold everything.
My biggest regret is that i also had a huge bag of BNB along with ELA as i originally came from Binance to Huobi . I sold BNB at its bottom just before it rocketed to ATH . If i had held my BNB it would have wiped off all my loss .But because of my discontent with Elastos i sold BNB too along with ELA .
I don't blame elastos team or anybody for my loss ,ultimately it was MY decision.I took the risk and unfortunately things didn't go well . Crypto is inherently high risk asset class and i take full responsibility for my loss and lack of knowledge in this sphere . Like Nietzsche said "What doesn't kill you , only make you stronger" .It has been a great learning experience and sets me up in future to make better decisions.
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