Crying to take profit in gold, catching the bottom of stocks, playing virtual money

Fly account

The couple work together with a salary of more than 50 million VND/month, and Nguyen Thi Truc (Quang Trung, Hanoi) has an accumulation of more than 600 million VND. At the end of 2020, receiving an extra Tet bonus, Ms. Truc discussed with her husband to buy gold. At that time, Ms. Truc bought 10 gold trees, priced at VND 61.25 million/tael. Ms. Truc calculated, this gold to accumulate as an amount to save for the family.

During Tet, the price of gold continuously increased sharply, making Ms. Truc excited because she was profitable after buying it for a short time. On March 8, the gold price set a record of 74.4 million dong/tael. Ms. Truc discussed with her husband to bring gold to sell to take profit. Ms. Truc brought all 10 gold trees to sell for 72.2 million VND/tael. Truc earned 720.2 million VND.

In just over 3 months, the gold investment has brought Truc a sum of more than 100 million VND. After selling gold, Ms. Truc’s money was deposited in a 3-month savings account.

In April, when the stock market dropped, Ms. Truc discussed with her husband to research this new investment channel. Last year, because she did not pour money into the stock market, she and her husband regretted seeing so many friends making billions of money from playing the stock market without much effort.

She withdrew all the money in the bank ahead of time to buy 3 securities codes, in which 1 code was “keyed” by a friend that could reach 80,000 VND/share in June.

Not having much market experience, Truc and her husband just finished buying and saw a loss. I panic when evaporating stock account from 20-30%. Regretfully, she risked to use financial leverage (margin). Up to now, the account has evaporated nearly 300 million dong, causing her and her husband to lose sleep.

“Watching the account become more and more negative, I want to cry. The money saved by the couple for many years has now flown away. Now it’s difficult to sell and cut losses,” Truc shared.

More tragic than Ms. Truc, Mr. Do Van Hung (Van Quan, Hanoi) is like a person losing his soul because his virtual money account has decreased significantly. In 2021, Mr. Hung started researching investment in virtual currency introduced by a friend.

Because he did not have much capital, Hung borrowed 10 gold trees from his brothers in the house, plus the accumulated money of the couple to buy coins. The total amount of money he invested in this segment amounted to more than 1 billion VND.

At that time, just finished buying, Hung’s account continuously increased due to the increase in virtual currencies. Some coins have increased 3-4x in just 1 week. Hung once shared, and his money will be poured into virtual money because this is a super profitable investment channel. Compared to gold, virtual money is many times more profitable. He calculates, from now until the end of the year, there will be enough profit to pay the interest of 10 borrowed gold trees.

Hung’s joy was not long, bitcoin dropped sharply, leading to many other coins also falling. In recent days, Mr. Hung has been restless because of the collapse of virtual currency. Bitcoin price fell to a record low in the past 10 months.

The price of Bitcoin on the CoinMarketCap exchange reached more than 29,000 USD. Ethereum is down 8.89%, at $2,140; BNB is down 13.5%, at $275.6; Solana fell 22.56%, the price was 51.75 USD; XRP down 18.21%, priced at $0.42; Cardano is down 15.42%, price is $0.529…

“Both capital and words are almost lost, I don’t even dare to open the electronic board to see,” Hung shared.

Do not risk bottom fishing

Giving advice to investors, Yuanta Vietnam said that short-term risks increased again and short-term cash flow continued to weaken, especially many stocks fell deep into the oversold area, showing demand. Bottom fishing may increase and the market may see a short-term technical recovery, but the recovery may still be weak due to pessimism and weak demand.

The short-term trend of the general market is still down. Therefore, short-term investors continue to stand outside and observe the market, especially short-term investors should not participate in bottom fishing at this stage until the short-term trend is evaluated positively by us. again.

According to VDSC, risks are still surrounding the market and currently there is no reliable support signal. Therefore, investors still need to be cautious and keep their accounts at a safe level, and at the same time, they need to observe the movement of money flow at the support area to assess the market’s state.

For virtual currency investors, a representative of one unit said that this is the time to rebalance personal finances. If using loan capital, investors need to prepare a reserve budget to avoid falling into financial liquidity loss.

On the other hand, F0 should focus the cash flow on the top coins, with a large ecosystem and community if you are using idle money to invest. Buyers need to learn how to accept a stop loss with weak, uninformed virtual currencies.

Told him

Gold price plummeted, down to the threshold of 68 million VND/taelAlong with the stock market plunge, the domestic gold price today (May 13) dropped sharply. From the early morning to late afternoon, the gold price has evaporated nearly 1 million dong, to the threshold of 68 million dong/tael (buy in).