Binance Poll Reveals Only 20% of Bitcoin Holders Have Experienced Bear to Bull Transition
A revealing Binance poll of 40,000 respondents has shown that a majority of cryptocurrency investors have never experienced a market similar to today’s where a bear market shifts into a sustained bull market.
The poll revealed that most players were pulled into the market in 2017 when Bitcoin was peaking so had not actually experienced the bear to bull transaction as their excitement turned to dismay when they witnessed their investments quickly plummet in at the end of 2017.
Figures show that as many as 80% of cryptocurrency and Bitcoin investors bought their digital currencies in 2017 and later, so missed out on the beginning stages of a bull market. The poll summary argues that with half of the investors buying their firsts cryptocurrency in 2017 this could explain why current investors are confused as to where the market is moving now.
Out of the 40,000 Twitter votes, A grand total of 58% of respondents said they bought their first crypto in 2017, with the remaining 42% split across those who got in after 2017 in 2018 and 2019, as well as those who got in in “2016 or earlier”.
When did you buy your first #Cryptocurrency? (Be honest )
— Binance (@binance) June 9, 2019
Its been a long and arduous run for the hodlers who have been forced to wait… and wait, after buying at the very top of the bubble, only now witnessing for the first time the start of something giving them positive hope for the future.