The leading cryptocurrency Bitcoin (BTC) lost 78 percent in the bear season of 2022. BTC, which has experienced one of the toughest bear seasons, still has not been able to recover. Many crypto money investors have very serious losses. The fact that altcoins have experienced more than 90 percent decline has caused investors to move away from the sector.
According to Santiment, a successful data provider, even 5-year-old Bitcoin investors have lost money as of now. Santiment shared the following words on the official Twitter account:
“Inspired by #Subreddit r/dataisbeautiful reporting that 5-year #Bitcoin holders are now under water…
@santimentfeed reveals that the average active 5-year trader has a return of -34%. Returns first went below 0% on June 9th.”
Underlining that on June 9, 5-year Bitcoin investors lost all their earnings, Santiment underlines that as of now, even long-term investors are losing 34 percent. Although BTC is a very successful investment vehicle in the long run, for the first time in the 2022 bear cycle, it slid below the top of the previous bull cycle. The leading cryptocurrency, which should end the bear season at $ 20 thousand under normal conditions, has dropped to $ 15,500 with the bankruptcy of FTX.