![]() ![]() For example, researchers found that three quarters of users who downloaded exchange apps were using them when Bitcoin was above $20,000. The monthly average number of daily-active users ballooned to more than 30 million worldwide from 100,000, they said. The team found that as prices rose in that stretch - with Bitcoin reaching a near-$69,000 high in November of 2021 - more and more users entered the system. To investigate crypto-trading patterns, BIS researchers built a database of retail-investor use of exchange apps across 95 countries, with data spanning between August 2015 to December of last year. ![]() Investors who suffer through steep losses and hold on even as they watch their investments continually lose value are sometimes referred to as “bag holders.” Bitcoin fell more than 64% in 2022, starting the year at around $47,300 and closing it at near $16,500, according to data compiled by Bloomberg.ĭigital-asset investors have their own terms for those who hold - or “hodl” - through even the roughest of times. Last year tested the resolve for all types of investors, with the calamitous crash of previously well-regarded projects, including Terra/Luna and FTX. “Retail investors have chased prices, and most have lost money.” “In stormy seas, ‘the whales eat the krill,’” wrote Giulio Cornelli, Sebastian Doerr, Jon Frost and Leonardo Gambacorta in a report dated Feb. The trend is just the latest evidence that the industry needs greater investor protection, per BIS researchers. After analyzing crypto exchange data, it concludes that many at-home investors lost money on their investments - likely exacerbated by larger, or more sophisticated, players selling their coins right before steep price declines seen last year. That’s according to a study by the influential Bank for International Settlements. Meanwhile, “whales” were selling en masse - all at the expense of those smaller mom-and-pop traders. (Bloomberg) - When the Terra ecosystem collapsed last year and again as FTX fell apart, retail investors rushed to buy the big crypto dip. ![]()
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