According to WuBlockchain, Chinese retail traders believe they will be able to buy Bitcoin with a higher discount of $18,000, $15,000, and $10,000. The 70% decline in the price of Bitcoin on the cryptocurrency market might not be enough for some crypto investors.
More than 2,200 individuals participated in the poll, and 8% of them thought that Bitcoin will soon hit $18,000 and Ethereum would fall to $1,000. The belief among investors that they can purchase a bitcoin for $15,000 is growing. The majority of investors are placing bets on BTC falling to $10,000 and ETH falling to $500.
Even though the study only includes a small subset of cryptocurrency investors from one location, we can still use the results as a general indicator of how retail investors in other regions feel about the market.
The majority of retail traders and investors are not yet ready for Bitcoin or Ethereum at present levels, according to data, and they anticipate that both currencies will decline much more. This finding is consistent with forecasts made by a number of cryptocurrency market analysts and investors.
Statistics show that whenever assets truly reach the aforementioned values and prices, the desire of certain individual investors to purchase the dip disappears. Such a tendency is related to the fact that when an asset’s price performance is poor, investors experience anxiety and refrain from investing until they notice a turnaround.
The profitability of traders and miners, unrealized loss, and other measures all point to Bitcoin being severely oversold and at all-time low levels right now, according to a number of on-chain and market indicators.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
The SEC is reportedly fast-tracking approval for spot Ethereum ETFs, which would allow ETFs to…
Decentralized social protocol Farcaster raises $150m in a funding round. The funds will help grow…
The SEC is likely to approve listing spot Ethereum ETFs as the SEC asked Nasdaq…
ZkSync token generation will be launched soon, with an airdrop anticipated around June 13.
Majuro, Marshall Islands, May 21st, 2024, ChainwireMultipool, a leading innovator in the blockchain and cryptocurrency…
Grayscale has submitted an updated 19b-4 form for Grayscale Ethereum Mini Trust.
This website uses cookies.