45% of traders entered the crypto market for the first time in 2017
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Answer 45% of traders entered the crypto market for the first time in 2017
There is no doubt that the rise in the price of Bitcoin to record levels has a magical effect on media agencies and on the hearts of individuals.
revealed study A new study by Binance found that almost half of the traders started trading crypto during the peak times of Bitcoin and its reaching a record level.
Almost half of crypto traders made their first transactions at the end of 2017.
When was it first made? # encrypt trade?
– Binance (binance) March 5, 2020
The study extracted its results from a sample of 11,397 votes, and the result was that the overwhelming majority entered the crypto market in 2017, with the price of Bitcoin reaching nearly $20,000.
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While in 2018, which is considered a harsh year and is called “Crypto Winter”, only 17% of users entered the field of cryptocurrency trading.
In the last world (2019), the percentage of new traders entering the crypto market was estimated at 11%.
While traders who are considered older than all of the above, i.e. before 2017, their percentage is estimated at 27%.
The ratios are logical because this data is related to sentiment. According to the Fear and Greed Index, 2018 was a year that carried a lot of fear, which explains that the percentage of traders in 2018 is low, compared to 2017, when Bitcoin reached a record level that made many individuals accept this field.
Looking at the data over the past three months, the year 2020 suggests that the adoption and appetite of the trading crowd is still modest.
If the morale level is recorded below 50 the society will be considered in fear mode, and if the graph goes above 50 the mood will be described as greed.
In the last 12 weeks and based on the above graph, there were only 3 weeks of greed compared to 9 of fear.
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These numbers are a bit bleak. According to Deutsche Bank, crypto adoption is very similar to what happened with the internet in its early days.
The same German bank expects that the number of crypto traders and dealers will reach about 200 million by 2030.
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