The BTC’s meteoric surge has earned various individuals millions, and investors in the US have the largest share as far as crypto riches are concerned.
American investors pocketed $4.1 billion in Bitcoin trading in 2020. According to Chainalysis estimates, the US profits exceeded the second-highest by three times. That was after the research company ranked 25 nations that had the highest Bitcoin returns.
You cannot doubt that the 2021 crypto session attracted retail and pro traders across the globe. Some individuals enjoy that digital coins suffer no inflation. However, most investors join the crypto market to enjoy the high returns that the market guarantees, considering volatility.
Chainalysis researchers declared that almost all investors in different countries enjoyed the high returns that the market had towards the end of the year. That is when investors from the US accumulated high gains through Coinbase.
China ranks second with bitcoin profits amounting to 1.1 billion. Germany, Russian, the UK, and Japan followed. Other emerging crypto markets on the list include Vietnam, Czech Republic, and Turkey.
Chainalysis declared its results after analyzing crypto transactions from the service providers. However, the decentralized technology makes it dreadful to identify the location of each crypto deal.
Bitcoin has been thriving since last year, attracting renowned investors like Paul Tudor Jones. BTC prices quadrupled in 2020, ending the year at around $29,000.
The crypto market boomed at the start of 2021, with most digital coins surging to their highest prices in April. Bitcoin traded to its highest at $60,000. Unfortunately, the market crashed in May due to attacks by China and Elon Musk’s criticism. Tesla suspended BTC payments in its cars due to the ‘insane’ electricity needed to mine the leading crypto coin. Later, China implemented stiffer crypto regulations that drove crypto exchanges out of the country.
The market crash saw Bitcoin trading at around $33,000 on Tuesday, after a 4% plummet. Although the BTC crash left most investors worrying, market experts view the decline as a usual thing in the crypto market.
Do you think that Bitcoin will rise again? You can comment your thought below.