There are still 3 Million Bitcoin Investors in China, Says Researcher
Currently there are still over 3 million bitcoin investors in China despite the ban on cryptocurrency trading and ICOs, says a researcher from International Monetary Institute at Renmin University of China, according to chinatimes.
The researcher named Li Honghan continued that there are a thousand ways to interpret blockchain and cryptocurrency in the eye of average people. In his view, data of the financial sector, copyright protection of the internet space, as well as industries related to securitization, will be most influenced by the blockchain technology.
Speaking of its financial functions, blockchain is cut out for fund-raising and investment, and that explains why there are so many ICO projects in existence.
According to a report from PwC, between January and May 2018 alone, 537 ICOs with a total volume of more than $13.7 billion have been registered, already twice as much as it was during the entire year of 2017.
While not all can seize the opportunity in the ICO boom. Currently there are still over 3 million bitcoin investors in China, and more than 15 million all over the world, as a plurality of crypto exchanges function overseas. The data source is not revealed, but considering the sustained bear market, whether the number will decrease or increase remains unknown.
As the oldest and largest bitcoin forum in China, 8btc forum sees a plurality of its users pump faith as the crypto sluggish continues, claiming they are buying the dips.
It was recently reported that customers of Coinbase, the largest U.S. cryptocurrency exchange, withdrew more from the company than they deposited in April, which indicated that some crypto investors might be leaving, and the subsequent 70% slump and long-lasting bear market has tested the patience of investors, especially those who bought the peaks last December.