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Cryptoify News > Blog > Crypto News > If You Bought Bitcoin After 2015, You’ve Likely Lost Money: BIS
Crypto News

If You Bought Bitcoin After 2015, You’ve Likely Lost Money: BIS

cryptoifynews
Last updated: 2023/02/20 at 9:29 PM
cryptoifynews  - Crypto
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The only investors making money from buying Bitcoin are the whales and pro traders—and if you bought the cryptocurrency after 2015, you’ve probably lost money.

 

That’s according to a new report from the Bank for International Settlements, which claims that more “sophisticated investors” in the crypto market have done well for themselves over the last seven years, but retail investors have generally lost out.

 

Monday’s “Crypto shocks and retail losses” report looks at how retail investors flooded the space when the price of coins and tokens started plummeting—and most buying volume took place when Bitcoin was above $30,000. At the moment, Bitcoin is trading for around $25,000, down 64% from its all-time high above $69,000.

 

“Data on major crypto trading platforms over August 2015-December 2022 show that, as a result, a majority of crypto app users in nearly all economies made losses on their Bitcoin holdings,” the report says, referring to state of the market following the collapse of the Terra crypto project.

 

Terra, at its peak, was one of the biggest blockchain ecosystems in the space. Its native coin, LUNA, had a market cap of over $30 billion, until it collapsed last May—sending “shockwaves through the system,” in the words of BIS researchers, and bringing the price of every digital asset down with it.

 

The BIS report also looks at the collapse of digital asset exchange FTX in November and how it hit the ecosystem. The exchange, once one of the biggest and most-respected, went bankrupt after a rush of customers tried to cash out at the same time. The bank run resulted in the exchange being forced to admit it did not hold one-to-one reserves of customer assets.

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