Latest Research Reveals Level of Bitcoin Trading From ‘Serious’ Traders
- One in four are trading over $4,000 a month in Bitcoin
- 44% of traders are aged 34 or under
- Only 59% of Bitcoin traders say their partners know the value of their trading
- The newly launched BTC Range Report is one of the most powerful Bitcoin prediction tools in the market
Bitcoin trading is very popular among the Gen Z population. A majority of the traders are under the age of 34 years and transacting heavily in bitcoin trading platforms.
New research from GNY, the leading blockchain-based machine learning business, reveals that of those people who trade at least $1,000 a month in Bitcoin, 25% are trading $4,000 or more. Just 11% say they trade around $1,000 a month, with 34% saying it is between $1,000 and $2,000. Nearly one in three (30%) trade between $2,000 and $4,000 a month.
| Amount traded in Bitcoin per month | Percentage of traders who trade at least $1,000 a month in Bitcoin |
| $1,000 | 11% |
| Between $1,000 and $2,000 | 34% |
| Between $2,000 and $4,000 | 30% |
| Between $4,000 and $7,500 | 16% |
| Between $7,500 and $10,000 | 5% |
| Over $10,000 | 4% |
The study from GNY, which recently launched BTC Range Report, providing some of the most accurate forecasts around Bitcoin volatility of any platform or service available today, reveals that 15% of serious Bitcoin traders are aged 18 – 24, 29% are 25 to 34 and 37% are aged between 35 and 44.
- Just one in five (19%) are older than this. Nearly one in four (72%) are men and 28% are women.
- Some 4% of those who trade over $1,000 a month in Bitcoin are students, 6% are unemployed, 13% work part-time, and 65% are in full-time jobs.
- One in ten are self-employed and 1% say they are retired while 1% describe themselves as ‘homemakers.
According to Nigel Green, CEO deVere Group: “Bitcoin and other cryptocurrencies are reaching the point of critical mass, the moment at which a new way of doing things crosses a threshold and takes hold.”
Nigel adds, “The move towards digital transactions had been taking place for years but has been accelerated since the start of the pandemic. For this reason, and because the likes of Bitcoin are out of their control, they’re in a race to launch digital currencies of their own, fully aware that digital currencies in our digital era simply make sense.”
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In terms of the hours they spend trading Bitcoin on a weekly basis, 16% say they trade for less than five hours. Just over one in four (28%) trade for between five and 10 hours, and one three (33%) for between 10 and 20 hours.
- The remainder (23%) trade for longer than this, with 5% trading for over 40 hours a week.
- When it comes to letting loved ones know about their trading, only 58% of serious Bitcoin traders say their partners know the value of their trades. Some 17% say their partners don’t know they trade at all, and 21% think they trade lower amounts. The remainder are unsure what their partners know about their trading.
At the time of this announcement, Cosmas Wong, CEO) GNY said: “With the value of Bitcoin rising by 11% in 2021 and by 3000% over the past five years, it has attracted an army of serious traders that is growing rapidly in number. However, the cryptocurrency remains very volatile and huge gains and losses can be made quickly. Thankfully, there are more tools available to traders than ever before to help them understanding volatility and movements in the price of the cryptocurrency, enabling them to make more informed decisions.”
Extensive testing of the BTC Range Report has delivered a mean absolute percentage error (MAPE) of between 3% and 7% making it one of the most powerful BTC prediction tools in the market. The average of the majority of competitor BTC prediction tools tested by GNY was 10%, but it was as high as 17% for some platforms.
The BTC Range Report uses proprietary machine learning to forecast Bitcoin volatility. The tool is the first consumer-facing product offered by GNY and uses specialized neural nets and a custom RSI to generate optimized forecasting for the projected daily range for Bitcoin.
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