There is a very popular hearsay in the stock trading community, which says, that something about at least 90 % of all traders loose their money in the long term. So, I just asked myself, if that could also be the case, concerning the actually active cryptocurrency traders.
Although there is no real "research paper" or something proving, that this theory is true, some statistics from online brokers can lead to some interesting conclusions:
considering an average year only about 1,6% of traders can be really profitable in the long term
traders often sell winning investment vehicles, while holding on to their loosing vehicles
men trade more than women; unmarried men trade more than married men
traders do not question their trading approach (e.g. there are a lot of scientific papers proving that most of the technical analysis is nothing but - BULLSHIT)
traders with a high IQ do not trade really much, instead of that, they hold more mutual funds and larger number of stocks for a bigger diversification effect.
you can find more interesting facts on that site: https://www.tradeciety.com/24-statistics-why-most-traders-lose-money/
So my theory on that is, that most of the cryptocurrency traders will also loose some money in this "Crypto Hype". Because they will be too greedy to go out of the market in the perfect moment. Instead of that, they will hold on and believe that the crypto's can reach new highs! ("the sky is not the limit" or sth. like that...)
Because of that I would really like to know, whether there is somebody here, who has already cashed out with a profit in the crypto-market, or are 90 % of you still holding on ??? ;)
steem regards!
your: Legal Tech Expert.
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