- 59.8% of Chinese investors reported losses in crypto investments, per Wu Blockchain survey.
- Bitcoin investors saw stability, while altcoin investors faced significant losses this year.
- Varied strategies: gains with Bitcoin and meme coins, losses with lesser-known altcoins.
A recent survey conducted by Wu Blockchain has revealed that a significant portion of Chinese investors experienced losses in their cryptocurrency investments this year. According to the poll, which was carried out on X (formerly Twitter), 59.8% of the 574 respondents reported losses, 23% made profits, while 17.2% saw no gains or losses.
While the price of Bitcoin remained relatively stable throughout the year, the survey highlighted a sharp decline in the value of altcoins, resulting in substantial losses for many investors. Wu Blockchain’s findings suggest that retail investors, particularly those who invested heavily in alternative coins, bore the brunt of this downturn.
The data indicates that despite Bitcoin’s steadiness, other cryptocurrencies have not followed the same trend, exposing investors to significant financial risks.
Additional insights from Wu Blockchain’s personal interactions with friends reveal varied outcomes among investors. According to his observations, those who focused on Bitcoin-related investments and meme coins managed to secure profits.
Conversely, individuals engaged with less prominent cryptocurrencies, often referred to as “copycats,” or invested heavily in the Ethereum ecosystem, tended to incur losses.
Some investors took a more conservative approach by holding large-cap coins or stable assets like U.S. Dollar-pegged stablecoins, practicing stable arbitrage, and reportedly maintained a sense of calm amid the market fluctuations.
Wu Blockchain extended an invitation to the broader community to share their experiences in this so-called bull market. He encouraged other investors to participate in the survey and contribute their perspectives.
As of the press time, Bitcoin is priced at $59,450.28, with a trading volume of $36,864,056,445. The cryptocurrency has risen by 0.16% in the past 24 hours. It holds the top position on CoinMarketCap, boasting a market cap of $1,173,940,325,825, with 19,746,590 BTC in circulation out of a maximum supply of 21,000,000 BTC.
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