“40% of bitcoin investors are now underwater, new data shows”
May 10, 2022
“Bitcoin is off nearly 55% from its November peak, and 40% of holders are now underwater on their investments, according to new data from Glassnode.
That percentage is even higher when you isolate for the short-term holders who got skin in the game in the last six months when the price of bitcoin peaked at around $69,000.
In the last month alone, 15.5% of all bitcoin wallets fell into an unrealized loss, as the world’s most popular cryptocurrency plunged to the $31,000 level, tracking tech stocks lower. Bitcoin’s close correlation to the Nasdaq challenges the argument that the cryptocurrency functions as an inflation hedge…”
https://www.cnbc.com/2022/05/09/40percent-of-bitcoin-investors-underwater-glassnode-data.html
Now is the time to buy not sell. For those who can’t find the proper timing then dollar cost average into cryptocurrency. More experienced folks can wait for what they consider the right time. This is the time when the wealthy make their money. When stocks crash they buy up everything. Stocks wont be down forever.