A new poll based on Bitcoin<\/a> was just released by the BIS (Bank of International Settlements), a bank with headquarters in Switzerland and membership in 63 national central financial institutions.<\/p>\n\n\n\n

The BIS primarily provides different banking services to numerous country central banks. Additionally, it provides a forum for discussions about monetary and regulatory policy. The group offers analysis based on each country’s economy.<\/p>\n\n\n\n

About 18 directors were chosen by the BIS’s member central financial institutions to oversee its operations. The governors of the central banks in France, Belgium, the United States, Germany, the United Kingdom, and Italy make up the central member financial institutions. These are the board’s permanent directors.<\/p>\n\n\n\n

Additionally, they have the power to jointly choose another director from among the member central banks. The remaining 11 directors of the entire board will then be chosen by the governors of the other major financial institutions that are members.<\/p>\n\n\n\n

Given the volatility of the cryptocurrency market<\/a>, it is understandable why so many investors are struggling. In light of the current state of the cryptocurrency market, the BIS made the decision to examine the circumstances of crypto investors.<\/p>\n\n\n\n

According to their results, one-third of retail Bitcoin investors are currently losing money. The analysis was based on retail investors’ actions on various exchange applications.<\/p>\n\n\n\n

The majority of exchange application downloads, according to the analysis, happened when BTC was still trading above $20,000. The analysis analyzed information spanning around 95 countries from 2015 through 2022.<\/p>\n\n\n\n

According to the report, small-scale investors purchase $100 worth of bitcoin on average each month. According to this information, 81% of retail investors are currently losing money.<\/p>\n\n\n\n

Concerns regarding investing in cryptocurrencies are being raised in light of this incident. The BIS thinks investing in the cryptocurrency ecosystem is one of the riskiest things anyone can do. Additionally, it’s implementation might be detrimental to the current state of the economy.<\/p>\n\n\n\n

Contrary to what the BIS believes, investors continue to express a greater level of interest in Bitcoin. However, the BIS emphasized that the volatility of digital currencies is fairly high. As a result, if prospective investors enter into it, they could suffer losses.<\/p>\n\n\n\n

Furthermore, these digital currencies are still not accepted as legitimate world payment systems. This fact also suggests that there is no official support for cryptocurrency.<\/p>\n\n\n\n

The Bank of International Settlements also stated that investors continue to use Bitcoin for trading transactions despite its decline.<\/p>\n\n\n\n

Within a year, the price of BTC drops by almost 75%, but that’s not all. The BIS observed that investors’ confidence in crypto investments should be somewhat wobbly in light of the collapse of FTX and 3AC. At the time of writing, the price of one bitcoin is $16,586.<\/p>\n","protected":false},"excerpt":{"rendered":"

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