- A recent survey of the Chinese crypto community reveals some interesting data.
- The survey was conducted including more than 2,200 people in the community.
- Majority of the people believe in buying the dip.
According to a recent survey conducted on the Chinese crypto community, most of them believe in buying the dip. The survey included and collected opinions from 2,200 people in the Chinese crypto community.
In a survey of more than 2,200 people conducted in Chinese crypto community on Weibo, 8% of the voters believed that Bitcoin and Ethereum could be buy the dip when the price reached $18000/1000; 26% will buy in $15000/800; 40% will buy in $10000/500. pic.twitter.com/L2HsetMSk7
— Wu Blockchain (@WuBlockchain) July 14, 2022
The survey which was conducted on the Weibo platform gathered the views of the crypto community on the current bear market. The survey topic included whether one should buy the dip.
The data from the study reveals that 8% of the voters believed in buying Bitcoin and Ethereum when they touched $18,000 and $1,000, respectively. Another 26% voted that they would only buy the dip when the price of BTC and ETH hit $15,000 and $800, respectively.
But the vast majority, or 40% of the Chinese crypto community, stated that they would only buy the dip when the price of Bitcoin and Ethereum hit $10,000 and $500.
As of now, it is unclear as to whether the two top cryptocurrencies will plummet to that price. Even though certain Bitcoin analysts think so, Bitcoin believers like Michael Saylor believe that the dip is the right time to buy Bitcoin.
Even though crypto is banned in China, the Chinese crypto community is finding a way to get their hands on crypto. Recently, the Shanghai government announced that they are planning to build a $52 billion metaverse industry by the end of 2025.
The country’s stance on crypto is still confusing to many as it bans crypto on one hand and paves the way for a flourishing metaverse on the other.