85% of Bitcoin Traders Expect to Trade More in 2022

(MENAFN- Perceptiona) Some 85% of traders who trade at least $1,000 a month in Bitcoin expect the level of trading they do in the cryptocurrency to increase in 2022, when compared to 2021. This is according to new research from GNY, the leading blockchain based machine learning business that recently launched BTC Range Report, providing some of the most accurate forecasts around Bitcoin volatility of any platform or service available today.

The study found that nearly half (49%) expect their level of trading to increase dramatically, whilst only 10% said they expect it to stay the same as last year, and just 2% anticipate it will fall.

When it comes to how much more these serious traders expect to trade in Bitcoin in 2022, 39% anticipate they will trade at least $10,000 more, with nearly one in 20 expecting to increase trading by $30,000 or more.

This year, how much more do you expect to trade in Bitcoin when compared to 2021 Percentage of serious Bitcoin traders who expect to trade more in the cryptocurrency this year
Up to $1,000 5%
Between $1,000 and $5,000 25%
Between $5,000 and $10,000 31%
Between $10,000 and $15,000 20%
Between $15,000 and $20,000 12%
Between $20,000 and $30,000 3%
Between $30,000 and $50,000 2%
Over $50,000 2%


This anticipated level of increased trading in Bitcoin can be partly explained by the optimism many traders have for the cryptocurrency’s valuation in 2022. Bitcoin is currently priced at around $48,000, and 62% of serious Bitcoin traders expect it to finish the year at over $58,000. Some 9% think it will be between $75,000 and $100,000 a coin, 10% say it will be between $100,000 and $125,000 and 4% expect it to finish the year with a high valuation than this. Just 15% believe it will be at $40,000 or more.

 
Cosmas Wong, CEO GNY said: “Our research shows that Bitcoin traders are optimistic about the prospects for the cryptocurrency this year, and this helps explain why the vast majority expect to increase their level of trading. However, price volatility will remain, and traders will need to continue to expect huge swings in the valuation of Bitcoin.

“More are turning to tools such as our BTC Range Report to make informed decisions about future price volatility and as solutions here become more sophisticated and affordable, trading in Bitcoin will increase further.”

Extensive testing of 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.

GNY believes that today's altcoin traders will be tomorrow's bitcoin traders. So to launch the BTC Range Report GNY entered into an exclusive partnership with CoinSniper which is widely regarded as the #1 source for the best new cryptocurrency projects. Subscribers to the CoinSniper GNY newsletter providers traders with exclusive content and previews to measure the Range Report's accuracy for themselves.


The BTC Range Report is available every Tuesday at 9am EST and spans a seven-day period. For the price of just $10, it can be purchased with ETH or GNY tokens, and access is provided directly through the user’s Metamask wallet. Version 1 of the GNY BTC Range Report offers:

● GNY’s daily projected volatility range for BTC as a graph and a table
● a forecast of which day will hold the weekly high and the weekly low
● forecast of daily volumes
● historical daily high and low prediction graph for the last two weeks VS BTC Actuals
● mean absolute percentage error (MAPE) for GNY historical daily high and low predictions VS BTC Actuals for the previous two weeks


How To Use The Report

The GNY Range Report is not financial advice and should not be taken as that. It is not meant to predict future Bitcoin prices but can be used to track millions of data points to identify patterns in Bitcoin trading. The goal of the GNY Range Report is to provide crypto traders with another data point in order to approach trading more rationally and less emotionally. The GNY team will continue to evolve the report, share its accuracy, and develop additional reports for other tokens in the future.

 
Notes to editors

(1) GNY.IO commissioned the research company Pureprofile to survey 100 Bitcoin traders who trade at least $1,000 a month in the cryptocurrency. The survey was conducted in December 2021 with respondents from the UK, US, Germany, Netherlands, Nigeria, Switzerland, Vietnam, and the Philippines – countries that have some of the largest Bitcoin trading markets in the world.

About GNY.IO

GNY is building transformative new technology at the intersection of machine learning and blockchain. “Our Level 1 blockchain solution is constructed with machine learning requirements built into our core code and data structures,” says Cosmas Wong, GNY CEO “which provides developers that use our platform to create dApps a huge advantage. Building with GNY means that all of your data will be inherently primed for the insights, monetization opportunities and sustainability goals that only integrated machine learning can bring.”

The BTC Range Report is the first of many ML-powered tools the company plans to release, as part of its forthcoming ML-marketplace, GNY Dataplace, which is launching next year. GNY Dataplace will provide a structured and secure way to partner with collaborators on machine learning without sharing raw data, build custom ML solutions that can be licensed on the platform, and use GNY's ML engines to monetize predictions of their own. GNY believes that Web 3.0 will be defined by the ability to move ML out of siloed use, opening the door to collaborative data environments that are safe, scalable, and secure.

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