OK Blockchain Capital Shows Almost 1 In 4 Crypto Investors Suffered Significant September Losses
The cryptocurrency market does not seem to be improving in terms of price action. Indeed, Bitcoin has registered weeks with a very stable price, but far from price levels experienced at the beginning of the current year. According to a new report conducted by OK Blockchain Capital on October 24, almost 50% of the respondents said that they registered losses in September.
As per the Investment Sentiment Survey conducted by the company, September was a busy month for virtual currencies. The survey had 16 questions related to the virtual currency market such as income and position structure for different time periods.
Of the 212 positive answers, 25.47% of them answered that they registered small losses, 24.53% remained ‘flat’ and 23.58% said that they experienced large losses. Just 3.3% answered that obtained large gains, 3.77% moderate gains and 14.15% small gains. A mere 5.19% remained out of the market since they did not find a clear moment to enter.
Those interviewed answered that their main cryptocurrency holdings were Bitcoin (BTC) 23.11%, EOS 16.4% and Ethereum (ETH) 12.26%. This was followed by Litecoin (LTC) 2.36%, XRP and Bitcoin Cash (BCH) with 1.42% both and IOTA (MIOTA) 0.47%. 42.92% said that they were holding other virtual currencies.
At the same time, the top five investment were related to tokens (57.08%), gaming (37.26%), social media (19.81%) and finance (18.4%). Other platforms were related to tourism, transport and advertising sectors.
Moreover, the survey showed that almost 80% of investors accumulated more than ¥100,000 ($894 dollars) of investments in cryptocurrencies. 11.79% less than ¥50,000 ($447 dollars), between ¥50,000 ($447 dollars) and ¥90,000 ($804 dollars) 9,91%. The rest had invested more than ¥100,000 ($894) in virtual currencies, representing 78.3% of the respondents.
The report has also highlighted the most important events that took place in the last month. They mentioned the approval in Iran of a new cryptocurrency mining law that regulates the activity in the country, Ethereum’s ‘difficulty bomb’ and the Bank of India and its legal battle against virtual currencies.
In the last days of October, the market is operating in a very stable way. Virtual currencies are registering moves of less than 1% most of the days. Indeed, Bitcoin is fluctuating between $6,450 and $6,550 since October 18.
At the time of writing, Bitcoin is being traded close to $6,490 dollars registered 0.22% gains compared to 24 hours ago. It also has a market capitalization of $112.5 billion dollars.