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Parnandi Karthikeya

Parnandi Karthikeya, MS Aerospace Engineering, Texas A&M University

Mine is neither a penny-to-million nor a long term investment story like many others here, but definitely an unusual one. So, it was during December of 2017 when crypto currency gained a stellar momentum and all over the news that I ventured into this ‘business’. After reading about the blockchain technology from books and news articles, I started with small amounts ($20 USD) buying BTC, ETH and LTC. For the next 20 days, I read on how to study the trends during my free time. I would see a trend and guess on what could be a possible reason for that.
One fine morning, I saw a peculiar trend which looked like the graph of a typical PWM signal (like the figure below) with a pretty high amplitude (the difference between the top and bottom edges). I said to myself, “some millionaires must be playing a drop and pick game” and went for a bath. That’s when it struck me, “Why can’t I play the same game, go with the tide and take an advantage?”. Pumped up with anxiety and fear, I went ahead with buying $700 worth BTC at the trough (bottom edge) of the square waves. Given my meager salary and savings (student here), $700 was huge. At the same time, I couldn’t see a reason why I can’t loose more than 20 USD (transaction fee). Within few seconds, a crest (top edge of a square wave) appeared, fetching me a profit of 130 USD. So, I immediately sold it for $830. The LTC was following BTC’s pattern, but with a lag, meaning LTC was still at its trough at this moment. So, I bought few LTCs and sold them at its crest. I continued this cycle between BTC and LTC while profits proliferated until $700 went all the way to $1700. That’s when I crossed my transaction limit of $10,000. All this happened in a span of 5 minutes. I immediately called my friend home to login with his credentials, so that I could keep sailing on those tides, but the waves settled by that time. I, then, transfered back the money to my bank.
 Every time I recall this story, I’m mesmerized by the sheer volatility of cryto currency and its double edged sword nature. Fortunately, I have been able to control myself from putting big money after that. I’m only waiting for this next once-in-a-blue-moon event.