Have I been scammed?

[flowercap]

Hey everyone,

A friend of mine has invested $3,000 into Bitcoin (Feb ‘18) on the recommendation of their friend, which he has said has been invested into his personal “bear” account/wallet? (?).
He has requested an update today on the value of his investment as he has unexpected costs that have came up and when prompted, the person he has invested money with has said the current market value of his $3,000 investment is now at less than $650 and after fees, pulling out now would mean he’s only going to see around $150.

Does this sound correct? Has the market really dropped this much in 10 months that a $3,000 investment is worth only $150 after fees or does this sound wrong?

Please keep in mind my friend was persuaded to invest (non-financially minded) as it was a “solid investment opportunity” and has only been given updates in “jargon” when questioned.

Any assistance is greatly appreciated,

Kind regards

[nandibear]

Hey everyone,

A friend of mine has invested $3,000 into Bitcoin (Feb ‘18) on the recommendation of their friend, which he has said has been invested into his personal “bear” account/wallet? (?).
He has requested an update today on the value of his investment as he has unexpected costs that have came up and when prompted, the person he has invested money with has said the current market value of his $3,000 investment is now at less than $650 and after fees, pulling out now would mean he’s only going to see around $150.

Does this sound correct? Has the market really dropped this much in 10 months that a $3,000 investment is worth only $150 after fees or does this sound wrong?

Please keep in mind my friend was persuaded to invest (non-financially minded) as it was a “solid investment opportunity” and has only been given updates in “jargon” when questioned.

Any assistance is greatly appreciated,

Kind regards

Hi,

Bitcoins are worth what people are willing to pay for them. The price can go up, the price can down.

Please see:

https://markets.bitcoin.com/

Bitcoin Cash (BCH): https://markets.bitcoin.com/crypto/BCH

Bitcoin Core (BTC): https://markets.bitcoin.com/crypto/BTC

[handycash]

Hey everyone,

A friend of mine has invested $3,000 into Bitcoin (Feb ‘18) on the recommendation of their friend, which he has said has been invested into his personal “bear” account/wallet? (?).
He has requested an update today on the value of his investment as he has unexpected costs that have came up and when prompted, the person he has invested money with has said the current market value of his $3,000 investment is now at less than $650 and after fees, pulling out now would mean he’s only going to see around $150.

Does this sound correct? Has the market really dropped this much in 10 months that a $3,000 investment is worth only $150 after fees or does this sound wrong?

Please keep in mind my friend was persuaded to invest (non-financially minded) as it was a “solid investment opportunity” and has only been given updates in “jargon” when questioned.

Any assistance is greatly appreciated,

Kind regards

Yes that is possible. Your friend invested into bitcoin when the price was about $18000 for one bitcoin. Now the price is less than $5000. Can you calculate how much depreciation that is? So, yes the bitcoin you bought for $3000 has drastically reduced in value. Please do the math, I don't have time for it. Your friend was not scammed; It is the sad situation on ground. Take that money and invest in a trading or mining platform for interest profit. Try coin90.com, it is a new investment site.