Bitcoin enthusiasts might be familiar with the expression Bitcoin Koalas. However, for those who do not know, this expression has nothing to do with real Koalas. It simply refers to that section of Bitcoin enthusiasts who cling on to their crypto even in an utterly hopeless situation. In fact, the number of such Bitcoin Koalas has seen a significant increase in recent times.
On the other hand, the crypto market is anything but predictable. In fact, it is highly volatile. Therefore, long-term investment is a tough job here. In such a situation, it is really tough to cling to our crypto investments, especially when the market experiences a crash. In fact, it is also equally difficult to avoid selling out the investments when the market turns towards positivity. However, the Bitcoin Koalas seem to have nerves of steel. When everyone else is selling their crypto in a panic mode, they are clinging to their assets. If you are interested to know more about these clingers, then this article is the perfect stop for you. Therefore, keep reading the article for more details.
The Bitcoin Koalas
Recently a study was posted on Civil Science. In fact, this study is on the Bitcoin and crypto markets. This particular study revealed that during the past few weeks, the crypto market witnessed a massive sell-off from cryptocurrency investors. However, in spite of such a trend, around 55% of the investors, clung to their crypto. On the other hand, 26% of the investors sold everything and 45% of the investors, sold most of their assets. However, 20% of the investors decided to sell only small portions of their assets.
In fact, another study was conducted by using the feedback of over 4,466retail investors. Among the respondents, around 78% didn’t budge amidst the massive crash in the cryptocurrency market. The general argument of the Bitcoin Koalas is that this crash is a prelude to a sharp rise in the near future. That is what has made them cling to their assets.
In July, the Crypto market showed signs of a rapid price hike. In fact, the growth in the interest of the investors mainly contributed to this price hike. In fact, Ethereum and Bitcoin are the two cryptocurrencies which people buy with confidence. In fact, both have impressive track records. Therefore, these two have been the principal targets of the Bitcoin Koalas. Therefore, even during volatile market situations, they cling on to the assets. Who knows, when the market might turn positive?