bitcoin
bitcoin

Bitcoin has been known to freak out whenever Elon Musk Tweets about a broken heart emoticon. So, why isn’t Bitcoin going off the rails when we stand just inches away from World War 3?

This could be due to the brand new HODLers partially.

Young retail investors betting on bitcoin for a more long-term investment instead of quick profits are joining the ranks of the true believers whose name was coined some time ago when an exchanger misspelt “hold” in the internet forum.

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This could help stabilize the volatile cryptocurrency market and create a long-term apex, according to market watchers who point out that bitcoin is rising by 5percent compared to before the Russian invasion hit it.

A study conducted by multi-asset retailer investment platform eToro, which claims to have millions of customers, discovered that people between the ages of 18 and 34 were significantly more inclined to make investments in cryptocurrency than else and with 66% of the age group having bitcoin and various other cryptocurrencies. This is an increase from 46% in July.

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More tellingly, More than three-quarters of those who invested in crypto believed that it would be “a transformational asset class”.

Callie Cox, the eToro U.S. analyst for investment, described these people as “HODLers in an e-book”.

“People who are convinced of the technology are going have a lower likelihood of offer when news headlines are threatening to hit the headlines,” she said, noting that she was expecting to see more investors from retail buying the future dips in cryptocurrency prices.

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Although the eToro survey of 8,000 investors provides an overview, the results match with other platforms. The cryptocurrency exchange Currency.com states that 31% of customers are between the ages of 23-30 years old and 20% are between 18 to 20, for instance, while another exchange Busha states that its average trader age is between 18 and 40.

Larissa Bundziak typifies the young HODLer.

“I do not believe that crypto is a fast way to get the rich type of thing. However, unfortunately, this is not the entire story,” said the 28-year-old Ukrainian public relations professional who lives within America. The United States.

Her bitcoin investments plunge from $19,000 at the end of 2017 to close to $3,000 by January 2019, but she said she “kept adding money to it until all of a sudden it was at $60,000”. She is planning to increase her bitcoin holdings.

“It is about being able to transfer it at any time I would like to, whether to my family members in Ukraine or anywhere else I would like to send it around the world and not having it be deposited with an institution or third party that I do not know what is happening with the money,” She said.

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There is no doubt that the retail trader could be an influential and reversible market player were put to rest last year when thousands of investors with small amounts driven “meme stocks” like GameStop (GME.N) to a dazzling height.

For bitcoin, a rising group of retail investors looking for the long-term future could increase the stability of long-term investors who also double down on the amount of bitcoin. read more

As Russian troops began to advance into Ukraine in February. 24, Bitcoin at first decreased by 14%, to $34,000. However, it has risen by 15 per cent since then.

It is not too harsh for an asset prone to extreme and unpredictable fluctuations throughout the years. However, beware: If bitcoin can teach us anything, it is to be prepared for unexpected events.

Musk appears to possess extraordinary power. Bitcoin fell by 35% during the May month this year, after he announced that Tesla (TSLA.O) would no longer accept the currency for the purchase of cars; it plummeted again in June when Musk posted “#Bitcoin” with a broken heart Emoji, and a picture of a couple discussing their separation.

PROFILE of a CRYPTO TRADER

Another trend in the demographics of the cryptocurrency market is being observed: traders are skewing females.

The eToro survey found that 38% of male investors have crypto accounts, for instance, compared to just 19 per cent of female investors.

A survey conducted by U.S. brokerage Robinhood found that 41% of female investors stated that they had never or would ever consider investing in cryptocurrency, while 24% of men invest.

“The gender gap in the competence of investing is a real issue and is still a factor even though there was an increase in interest and retail participation in the market for crypto in the past year,” explained Christine Wood, Chief Operating Officer of Robinhood’s cryptocurrency business.

There are a variety of reasons behind the male skew. Market players.

“Crypto is located at the intersection of finance and technology, which are both masculine-dominated industries”, stated Ophelia Snyder, co-founder and CEO of the Swiss-based firm that sells cryptocurrency products 21Shares and Amun Tokens.

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