Crypto trader who lost 100 million in one day explains what he did next

First of all, imagine having $100 million? Then secondly imagine losing it all in one day. It hard to conceive but this is exactly what happened to Ran Neuner, who goes by the name Crypto Banter on YouTube, where he has more than a million subscribers.

The popular crypto trader passed on advice at the recent Crypto Content Creator Campus in Dubai about the ups and downs of the often volatile industry.

“I had a very bad day in 2021. That was the day Luna went down, and over 55% of my portfolio was in Luna, and I lost over $100 million that day of my own personal cash, and I lost all my motivation and all my confidence and everything else.”

When the Luna crypto network collapsed, it’s estimated that $60 billion got wiped out of the digital currency space. Luna tokens operated on the now infamous Terra blockchain network.

“The entire community that was in Luna all hated my guts. What did I do? I showed up at four o'clock every single day, and I made a video, and I told the truth, and I told them about how I felt, and I mourned with them, and we mourned the loss of Luna together.

“And then one day, when all the emotions were out from all of us, me and the community, we as a community, made a decision that we had two options, either we're going to give up, or we're going to turn around and fight and build our portfolios to be higher than they were before Luna collapsed.”

Advice for others

Crypto influencers attract massive followings from audiences eager for profit but often unaware of the risks involved. Some of these influencers are paid to promote certain projects and tokens, while others are affiliated with big crypto exchanges and earn money when they introduce new clients.

Many have praised Crypto Banter on how he reacted to the downfall of Luna, and his own fortunes. “It was that transparency, it was that vulnerability, it was that humility. And now I've got choices to make in my life.”

Another crypto influencer, Christopher Jaszczynski, who goes by the name MMCrypto, said it was smart to learn from other people's experiences, not necessarily your own.

“People learn from their own mistakes, but the smartest people learn from mistakes from others. It was usually connected to fear, connected to greed. They tried to outperform the market, sell the top or buy the bottom. It doesn't really work like this. It's not that easy.”

MMCrypto, who has more than half a million followers on YouTube, added: “Everybody starts somewhere. Mistakes are normal. Just remember, never really invest more than you can afford to lose, keep your crypto secure and take time to learn before diving right in.”