news

bitcoin

1 X bitcoin bitcoin =

Tuesday

24 November 2020

Why China's Retail Investors Are Missing the Bitcoin Boat - Decrypt

Why China's Retail Investors Are Missing the Bitcoin Boat - Decrypt


smart summary beta

That jolly atmosphere however is missing from the crypto circles of WeChat and Weibo, Twitter’s Chinese equivalents?

Dovey Wan, founding partner of Primitive Venture, tweeted yesterday that Chinese retail investors were “rekt in shorting BTC all the way up,” and added that  “the sentiment is overall bearish after BTC hits 12k....”?

Wan hypothesized that Chinese traders are more practical than western Bitcoin maximalists, meaning that they not only trade non-bitcoin tokens but also don’t have a strong belief that Bitcoin will hit $20,000 in such a short amount of time.

The real benefactor, as many (including Chinese CCTV) have pointed out, could be western institutions, including organizations such as Greyscale, which hold a large number of crypto assets, and do not show any sign of slowing down.

Goto Full Article

bitcoin bitcoin price

$19168.92

24h

Live Average

bitcoin

News Article Sentiment

negative

Score (-0.5)

Article Metadata

author

site

decrypt.co
Market data feeds provided by cryptocompare.com
bitsmart 2020