The BIS (Bank of International Settlements) is a Switzerland-based bank belonging to 63 national central financial institutions that recently revealed a new survey based on Bitcoin.
Primarily, the BIS offers various banking services to several national central banks. Also, it creates a platform for regulatory policies and monetary discussions. The organization also delivers analysis based on the economy of the nations.
The member central financial institutions of the BIS elected about 18 directors to govern its operations. The central member financial institutions consist of the governors of the central banks in France, Belgium, the United States, Germany, the United Kingdom, and Italy. These are the permanent directors of the board.
They may also collectively appoint another director from one of the member central banks. Finally, the governors from the other member major financial institutions are to elect the 11 directors left of the entire board.
Considering the ongoing movement of the crypto market, it’s no surprise that many investors are at a loss. Therefore, the BIS decided to look at the situations of crypto investors regarding the current state of the crypto market.
Its findings revealed that about one-third of BTC retail investors are currently at a loss. The study was based on the activities of retail investors on different exchange applications.
According to the survey, most exchange application downloads occurred when BTC was still above $20K. The study covered data from 2015 to 2022, spanning about 95 nations.
The survey showed that the retail investors bought an average of $100 worth of BTC monthly. From this data, about 81% of retail investors are currently at a loss.
This occurrence is raising concerns about venturing into crypto investments. The BIS believes the crypto ecosystem is one of the riskiest investments for anyone. Moreover, its implementation may not do the economy any good as it stands now.
As opposed to the belief of the BIS, investors are still showing more interest in Bitcoin regardless of the current situation. The BIS, however, noted that digital currencies are pretty volatile. Therefore, should intending investors venture into it, they could also incur losses.
Moreover, these digital assets are still not recognized as global payment methods. This fact also indicates that cryptocurrencies have no governmental backing.
The Bank of International Settlements also cited that despite the fall of Bitcoin, investors still perform trading transactions with this token.
About 75% of the BTC price is lost within the space of a year, and that’s not all. Considering the crash of FTX and 3AC, the BIS noted that investors’ confidence in crypto investments should be somewhat shaky. At the time of writing, Bitcoin is trading at $16,586.
Bitcoin price declines on the chart l BTCUSDT on Tradingview.com
Featured image from Pixabay, chart from TradingView.com
The BIS (Bank of International Settlements) is a Switzerland-based bank belonging to 63 national central financial institutions that recently revealed a new survey based on Bitcoin.
Primarily, the BIS offers various banking services to several national central banks. Also, it creates a platform for regulatory policies and monetary discussions. The organization also delivers analysis based on the economy of the nations.
Related Reading: Tom Brady, Gisele Bundchen, And Sam Bankman-Fried Sued Over FTX Collapse
The member central financial institutions of the BIS elected about 18 directors to govern its operations. The central member financial institutions consist of the governors of the central banks in France, Belgium, the United States, Germany, the United Kingdom, and Italy. These are the permanent directors of the board.
They may also collectively appoint another director from one of the member central banks. Finally, the governors from the other member major financial institutions are to elect the 11 directors left of the entire board.
Considering the ongoing movement of the crypto market, it’s no surprise that many investors are at a loss. Therefore, the BIS decided to look at the situations of crypto investors regarding the current state of the crypto market.
Its findings revealed that about one-third of BTC retail investors are currently at a loss. The study was based on the activities of retail investors on different exchange applications.
According to the survey, most exchange application downloads occurred when BTC was still above $20K. The study covered data from 2015 to 2022, spanning about 95 nations.
The survey showed that the retail investors bought an average of $100 worth of BTC monthly. From this data, about 81% of retail investors are currently at a loss.
This occurrence is raising concerns about venturing into crypto investments. The BIS believes the crypto ecosystem is one of the riskiest investments for anyone. Moreover, its implementation may not do the economy any good as it stands now.
As opposed to the belief of the BIS, investors are still showing more interest in Bitcoin regardless of the current situation. The BIS, however, noted that digital currencies are pretty volatile. Therefore, should intending investors venture into it, they could also incur losses.
Moreover, these digital assets are still not recognized as global payment methods. This fact also indicates that cryptocurrencies have no governmental backing.
Related Reading: Bitcoin 7-Day Volatility Comes Alive As FTX Collapse Shakes Market
The Bank of International Settlements also cited that despite the fall of Bitcoin, investors still perform trading transactions with this token.
About 75% of the BTC price is lost within the space of a year, and that’s not all. Considering the crash of FTX and 3AC, the BIS noted that investors’ confidence in crypto investments should be somewhat shaky. At the time of writing, Bitcoin is trading at $16,586.
Bitcoin price declines on the chart l BTCUSDT on Tradingview.comFeatured image from Pixabay, chart from TradingView.com
Tags: Bank of International SettlementsbitcoinBTCUSDTcrypto
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