According to research from GNY, a blockchain-based machine learning company, 25% of people who trade at least $1,000 in Bitcoin per month have a balance of $4,000 or more.
Only 11% say they trade around $1,000 per month, while 34% say they trade between $1,000 and $2,000. Almost a third of people (30%) trade between $2,000 and $4,000 per month.
GNY hired Pureprofile to conduct a survey of 100 Bitcoin traders who trade at least $1,000 per month in the cryptocurrency.
Respondents came from the United Kingdom, the United States, Germany, the Netherlands, Nigeria, Switzerland, Vietnam, and the Philippines, all of which have some of the world's largest Bitcoin trading markets.
GNY, which recently launched BTC Range Report, claiming to have some of the most accurate current forecasts on Bitcoin volatility of any platform or service, also revealed that 15% of serious Bitcoin traders are between the ages of 18 and 24, 29% are between the ages of 25 and 34, and 37% are between the ages of 35 and 44. Only one-fifth (19%) of the population is older than this. Men account for nearly three-quarters of the population (72%), while women account for 28%.
Approximately 4% of those who trade more than $1,000 in Bitcoin per month are students, 6% are unemployed, 13% work part-time, and 65% work full-time. One in ten is self-employed, one in ten is retired, and one in ten describes themselves as a 'homemaker.'
In terms of the number of hours they spend trading Bitcoin each week, 16% say they trade for less than five hours. Over a quarter of all traders (28%) trade for five to ten hours, and one-third (33%) trade for ten to twenty hours. The rest (23%) trade for longer periods of time, with 5% trading for more than 40 hours per week.
Only 58 percent of serious Bitcoin traders say their partners are aware of the value of their trades when it comes to informing loved ones about their trading. Some 17 percent say their partners have no idea they trade at all, while 21% believe they trade in smaller amounts. The rest are unsure what their trading partners are aware of.
GNY's chief executive, Cosmas Wong, said: "ith 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 understand volatility and movements in the price of the cryptocurrency, enabling them to make more informed decisions."
By fLEXI tEAM