CRYPTO NEWS: 3 OUT OF 4 BITCOIN INVESTORS HAVE SUFFERED A LOSS.

3 OUT OF 4 BITCOIN INVESTORS HAVE SUFFERED A LOSS

ACCORDING TO A STUDY, 3 OUT OF 4 BITCOIN INVESTORS HAVE SUFFERED A LOSS. ACCORDING TO A RESEARCH RELEASED ON MONDAY, ALMOST 75 PERCENT OF CONSUMERS WHO PURCHASED BITCOIN LOST MONEY, AS THE CRYPTOCURRENCY INDUSTRY IS STILL REELING FROM THE FAILURE OF A SIGNIFICANT EXCHANGE THAT HAS UNDERMINED CONFIDENCE.

DATA ON CRYPTOCURRENCY INVESTORS IN 95 COUNTRIES BETWEEN 2015 AND 2022 WAS EXAMINED BY EXPERTS AT THE BANK OF INTERNATIONAL SETTLEMENTS, AN ORGANIZATION THAT IS FREQUENTLY REFERRED TO AS THE “CENTRAL BANK OF CENTRAL BANKS.”

3 OUT OF 4 BITCOIN INVESTORS HAVE SUFFERED A LOSS:

3 OUT OF 4 BITCOIN INVESTORS HAVE SUFFERED A LOSS
3 OUT OF 4 BITCOIN INVESTORS HAVE SUFFERED A LOSS

IN THEIR INVESTIGATION, THEY FOUND THAT “GENERALLY, BACK OF THE ENVELOPE CALCULATIONS SHOW THAT ROUGHLY THREE-QUARTERS OF USERS HAVE MADE A LOSS ON THEIR BITCOIN INVESTMENTS.”

THE PRICE OF BITCOIN INCREASED FROM US$250 (RM1,134.38) IN AUGUST 2015 TO A HIGH OF AROUND US$69,000 (RM313,087.50) IN NOVEMBER 2021 THROUGHOUT THE STUDY PERIOD. IT IS CURRENTLY GOING FOR ABOUT $16,500 USD (RM74,868.75).

DURING THE SAME TIME PERIOD, THE NUMBER OF USERS UTILISING SMARTPHONE APPS THAT ALLOW FOR CRYPTOCURRENCY BUYING AND SELLING INCREASED FROM 119,000 TO 32.5 MILLION.

THE RESEARCHERS STATED IN THEIR STUDY THAT “OUR ANALYSIS HAS DEMONSTRATED THAT, ACROSS THE WORLD, BITCOIN PRICE GAINS HAVE BEEN CONNECTED TO HIGHER ENTRANCE BY RETAIL INVESTORS.”

IN ADDITION, THEY CLAIMED THAT THEY DISCOVERED THAT “WHEN PRICES ROSE AND SMALLER USERS PURCHASED BITCOIN, THE LARGER HOLDERS (THE SO-CALLED “WHALES” OR “HUMPBACKS”) WERE SELLING, MAKING A PROFIT AT THE EXPENSE OF THE LESSER USERS.”

THE PROFITS OR LOSSES OF SPECIFIC INVESTORS WERE NOT DIRECTLY AVAILABLE TO THE RESEARCHERS.

THEY WERE ABLE TO EXTRAPOLATE, THOUGH, BASED ON THE PRICE OF BITCOIN AT THE TIME NEW INVESTORS STARTED USING CRYPTOCURRENCY TRADING APPS, AS WELL AS THE ROUGHLY US$20,000 (RM90,750) IT WAS VALUED LAST MONTH.

THE STUDY ALSO DISCOVERED THAT MEN UNDER 35, WHO ARE TYPICALLY SEEN AS THE MOST “THREAT” PORTION OF THE POPULATION, MADE UP THE LARGEST SEGMENT OF NEW BITCOIN INVESTORS, ACCOUNTING FOR ABOUT 40% OF THEM.

RESEARCHERS DISCOVERED THAT THE MAJORITY OF CRYPTOCURRENCY INVESTORS VIEWED THE ASSET CLASS AS SPECULATIVE AND THAT YOUNG MEN PREFERRED TO BE MORE ACTIVE TRADERS IN THE MONTHS AFTER A SIGNIFICANT INCREASE IN THE PRICE OF BITCOIN.

THEY CLAIMED THAT ADDITIONAL CONSUMER PROTECTION MAY BE REQUIRED GIVEN THE INCREASE IN INVESTORS FOLLOWING PRICE INCREASES.

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CRYPTO NEWS: 3 OUT OF 4 BITCOIN INVESTORS HAVE SUFFERED A LOSS.

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