"Who invests in coins?"… What is the #1 reason for the sharp drop in trading volume?

▲ Cryptocurrency ©

Half of domestic cryptocurrency investors expect the Bitcoin (BTC) market to be weak this week (August 17-21).

According to a regular weekly survey on domestic investor market trends jointly conducted by CoinNess and Kratos, 20.7% of respondents (26.3% last week) expected Bitcoin to rise or surge this week. 28.1% of respondents (30.3% last week) expected sideways movement, while 51.2% of respondents (43.4% last week) expected a decline or sharp drop. Optimistic outlooks decreased compared to the previous week, while pessimistic outlooks increased.

When asked about the reasons why domestic cryptocurrency trading volume last month fell to its lowest level since October 2020, the largest number of respondents, 23.7%, cited 'hostile cryptocurrency policies such as taxation next year'. Following this, 22.8% cited 'limited trading environment supporting only some spot assets', and 21.6% cited 'decreased investment attractiveness and reduced profit opportunities in the altcoin market', showing similar proportions. Additionally, 17.5% responded 'market reorganization centered on institutions and departure of individual investors', and 14.4% responded 'reduced volatility of major assets such as Bitcoin'.

The number of respondents for this survey was 2,000, and it was conducted from August 12-14. The sampling error is ±3.0%, and the confidence level is 95%. The survey institution is Pharos Labs.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*