RE: Data Shows 60% of Bitcoin Investors Are Abovewater – Remaining 40% to Regain Profits Soon
The headline below – this has been all we’ve been seeing lately, especially in the past day or so. Now to someone who just got into Bitcoin I can totally understand but if you’ve been in this for any amount of time then you know this is only temporary
40% of bitcoin investors are now underwater, new data shows
“Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.
In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss, as the world’s most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower.
Bitcoin’s close correlation to the Nasdaq challenges the argument that the cryptocurrency functions as an inflation hedge.”
In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss, as the world’s most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower.
Bitcoin’s close correlation to the Nasdaq challenges the argument that the cryptocurrency functions as an inflation hedge.”
I was talking with an old friend who only bought within the past year and the fear these people get during these drops, probably fueled by the media and a lack of time and knowledge but he sold and thankfully for him bought the dip yesterday.
