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bitcoin bull crypto
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Majority of Crypto Investors Never Experienced Bear to Bull Transition

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
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Bitcoin has now been in existence for over a decade, and the larger crypto market has now been through a few market cycles despite being a relatively new financial asset and emerging technology.

It wasn’t until Bitcoin’s media-fueled meteoric rise and the ICO explosion that put crypto on the radars of the mainstream public during the 2017 bull market. With so many crypto investors being pulled into the 2017 crypto bubble, the majority of crypto investors in the market have never witnessed a market cycle transition from bear, to bull, and have never experienced the beginning stages of a bull market.

80% of Crypto and Bitcoin Investors Bought In Around 2017 or Later

Markets cycle the same way across all any asset class. After peak exuberance and hype comes a crash that brings on anger, despair, and depression. And as was the case with the crypto market as Bitcoin rallied out of lows to over 100% gains in the matter of two months, as a bear market ends, investors are left in disbelief, are hesitant to pull the trigger, and still suffering from the crypto bear market version of post-traumatic stress disorder.

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Such is the case with the majority of crypto investors, as a new poll from leading exchange Binance via their Twitter account, where they polled users as to when they first entered the crypto market. The account cheekily pushes investors to “be honest,” making light of the influx of retail investors who bought the top of the bubble and were forced to “hodl” through a long, arduous bear market.

When did you buy your first #Cryptocurrency? (Be honest ?)

— Binance (@binance) June 9, 2019

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According to the poll, which received a staggering over 40,000 votes, more than half of crypto investors who responded bought their first cryptocurrency in 2017. A grand total of 58% of respondents voted this way, 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.”

This means that only 20% of all respondents ever experienced a bear market cycling into a bull market, which could explain why most crypto investors are experience such disbelief, and are confused as to where the market will move to next.

The remaining 80% of investors entered the space in the second half of the last bull run, only to experience what it’s like for a bubble to pop and the majority of the assets traded across the crypto market feel as much as 99% from their all-time high amidst the hype.

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Related Reading | Next Bitcoin Bull Run Will Be First Cycle Supported By Established Financial Firms

While the poll does demonstrates how “green” crypto investors are, it also clearly highlights just how early it is as an asset class and emerging financial technology.

Featured image from Shutterstock
Tags: Bear marketBinancebitcoinBull Marketcryptopoll
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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