Despite the fall of the cryptocurrency market by 70% from the maximum values, the survey showed that Chinese traders are waiting for further depreciation of bitcoin.
According to Chinese journalist Colin Wu, a poll on the Weibo social network involving more than 2,200 people showed that Chinese traders are waiting for the market to continue to fall. 8% of respondents said they would buy BTC at $18,000. 26% of respondents would start buying at $15,000 per coin. But if the bitcoin rate falls to $10,000, then 40% of respondents will buy the first cryptocurrency.
The results of the survey show the mood among retail traders – even at current prices, most of the respondents are not willing to buy top cryptocurrencies, expecting a further fall. At the same time, some indicators indicate a significant oversold of bitcoin and ether.
Recall that trading in cryptocurrencies is prohibited in China. In March, the Central Bank of the Celestial Empire reported that the volume of transactions with BTC in the country decreased by 80%, which indicates the effectiveness of the ban.
Source: Bits
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