Here are some of the most popular bitcoin trading patterns

By Puja Sharma

Some of the most accurate forecasts around Bitcoin volatility of any platform or service available today reveal that 15% of serious Bitcoin traders are aged 18 – 24. Nearly one in four (72%) are men and 28% are women. Around 29% are 25 to 34 of age and 37% are aged between 35 and 44.

Research commissioned by GNY, the leading blockchain-based machine learning business, reveals that of those people who trade at least $1,000 a month in Bitcoin, 25% are trading $4,000 or more.  Just 11% say they trade around $1,000 a month, with 34% saying it is between $1,000 and $2,000. Nearly one in three (30%) trade between $2,000 and $4,000 a month. GNY is building transformative new technology at the intersection of machine learning and blockchain.

• One in four are trading over $4,000 a month in Bitcoin
• 44% of traders are aged 34 or under
• Only 59% of Bitcoin traders say their partners know the value of their trading

The psychological mechanisms underlying excessive crypto trading include overestimation of knowledge or skill, fear of missing out (FOMO), preoccupation, and anticipated regret.

The study from GNY, providing some of the most accurate forecasts around Bitcoin volatility of any platform or service available today, reveals that 15% of serious Bitcoin traders are aged 18 – 24, 29% are 25 to 34, and 37% are aged between 35 and 44.  Just one in five (19%) are older than this.    Nearly one in four (72%) are men and 28% are women.

Some 4% of those who trade over $1,000 a month in Bitcoin are students, 6% are unemployed, 13% work part-time, and 65% are in full-time jobs.    One in ten are self-employed and 1% say they are retired while 1% describe themselves as ‘homemakers.

In terms of the hours, they spend trading Bitcoin every week, 16% say they trade for less than five hours.  Just over one in four (28%) trade for between five and 10 hours, and one three (33%) for between 10 and 20 hours.  The remainder (23%) trade for longer than this, with 5% trading for over 40 hours a week.

When it comes to letting loved ones know about their trading, only 58% of serious Bitcoin traders say their partners know the value of their trades. Some 17% say their partners don’t know they trade at all, and 21% think they trade lower amounts.  The remainder is unsure what their partners know about their trading.

Cosmas Wong, CEO of GNY said: “With 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.”

Extensive testing of the BTC Range Report has delivered a mean absolute percentage error (MAPE) of between 3% and 7% making it one of the most powerful BTC prediction tools in the market. The average of the majority of competitor BTC prediction tools tested by GNY was 10%, but it was as high as 17% for some platforms.