Altcoin Crypto Trader Faces Dilemma as Family Investment Turns Sour

In a recent post, a popular altcoin cryptocurrency trader with over 400,000 followers on social media recounts a cautionary tale about investing on behalf of family members.

Despite Altcoin Gordon’s warning about the risks of crypto investment, his aunty insisted he proceed, resulting in financial losses.

Altcoin Trader finds Himself in Difficult Situation

Altcoin Gordon announces to his followers that his portfolio surged an impressive 40 times in 2023, aligning with recent crypto market surges. Yet, this wasn’t consistent throughout the year.

The popular trader revealed to his followers that he found himself in an awkward situation at the year’s beginning when the investment from his aunty went awry.

“But my auntie gave me $10K at the beginning of the year to invest for her, which unfortunately I lost.”

Furthermore, he added that some of his “family members are now suggesting” that he give her some of the money back from his profits.

Additionally, he declares that he “explained the risks to her.”

Read more: 11 Hot Meme Coins and Altcoins that Trend in 2023

Altcoin Trading Focus Changes Throughout the Year

BeInCrypto recently reported that Ethereum (ETH), the largest altcoin by market capitalization, recently recorded an 18-month low against Bitcoin.

At the time of publication, Ethereum’s price stands at $2,272.

Ethereum Price Chart 1 Month. Source: BeInCrypto

However, some suggest that ETH might be heading for further decline. It was reported that if ETH continues to struggle, then the entire altcoin market faces a potential threat.

Meanwhile, on August 24, BeInCrypto reported that the number of Ethereum (ETH) wallets accounted for the majority of crypto participants as of July 2023.

While Bitcoin faces the lowest volatility risk, with 4,500 wallets holding 50% of the asset supply. ETH offers the highest chance of price swings, as only 131 wallets account for half its supply.

Read more: What Is Altcoin Season? A Comprehensive Guide