Cryptoverse: Forget crypto winter, this is a bitcoin 'bloodbath'

- "I’m nearly bankrupt," says Jad Fawaz, a crypto trader in Abu Dhabi. "I’m laughing because there’s no point in exerting more depression and more frustration about it."

Bitcoin balances on crypto exchanges - where retail investors typically transact - have fallen to around 2.3 million from its 2020 all-time high of 3.1 million, exchange Bitfinex said. Self-custody wallet balances have not grown at the same pace, indicating more selling than storage, it added. The 38-year-old said she was a "long-haul" investor with an investment horizon of five years and traded "a bit of everything", including altcoins and memecoins.

Retail trading has grown increasingly difficult as deeper-pocketed, more sophisticated investors like hedge funds entered crypto as the asset class grew. Eloisa Marchesoni, a trader who said she had about $2,000 on FTX she was unable to withdraw, is sure crypto will retain its attraction for smaller investors.

Blood bath

پاکستان تازہ ترین خبریں, پاکستان عنوانات

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