Topic: Chinese investor loses $400,000,000 in Bitcoin - page 6. (Read 828 times)
He didn't sell his bitcoin. He didn't loose his money yet. The price is low now and if he sell it, he may lose his money and even if he would have sold it then the amount would be much more less than what you've calculated. So, holding the coins is the best solution to this situation. I hope he would go with this.
The Chinese investor bought 100,000 Bitcoins and the later the price fell. There are more sellers.
If we are going to calculate all Chines investors and individual who invest in Bitcoin it would be billion dollars now, remember that reports on surveys doesn't include individual persons who bought Bitcoin during the high peak.
Just because he had close to 100k Bitcoins in March doesn't automatically mean he bought them all in March. If he had bought at any point pre-December 2017 (all time high at that point was around ~$5k), he'd still have made at least ~$8 million dollars in profit by selling off 8k coins.
If nothing else, this scenario puts into perspective how well Bitcoin is doing despite the bear market. Same time last year, Bitcoin was trading for around ~$2k if I remember correctly.
If nothing else, this scenario puts into perspective how well Bitcoin is doing despite the bear market. Same time last year, Bitcoin was trading for around ~$2k if I remember correctly.
He had some 100,000 Bitcoins on March 2018 when Bitcoin was $10,000 to $12,000. Now Bitcoin is $6,000
Your calculation is wrong. He would have lost that much if he would have sold. You know the profit/loss only when you are on the same coin i.e. after conversion is done for real.
He sold only (heh, only?!!!?) 8 000BTC of the
He had some 100,000 Bitcoins on March 2018 when Bitcoin was $10,000 to $12,000. Now Bitcoin is $6,000
Read:
At least one individual in China took the term “HODL” to heart as his or her Bitcoin wallet has seen a total of 93,947 BTC transferred to it since March 25, 2018. The wallet’s address is 1KAt6STtisWMMVo5XGdos9P7DBNNsFfjx7 and it currently possesses 85,947 of the total amount in Bitcoin that it originally had, after selling exactly 8,000 BTC off.
Read more: https://cryptovest.com/news
Read:
At least one individual in China took the term “HODL” to heart as his or her Bitcoin wallet has seen a total of 93,947 BTC transferred to it since March 25, 2018. The wallet’s address is 1KAt6STtisWMMVo5XGdos9P7DBNNsFfjx7 and it currently possesses 85,947 of the total amount in Bitcoin that it originally had, after selling exactly 8,000 BTC off.
Read more: https://cryptovest.com/news
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