The UK investors are still suffering from the losses incurred during the extreme fall of bitcoin prices, this year. Many retail investors and business organizations had got affected due to sudden unexpected crash in the crypto market at the beginning of the year itself.
The damaged experience by the investors across the world are well known. The Asian and American investors have suffered a lot, and media has given enough attention to the loss too; as the news was worthy for the worldwide market. But, for the first time, due to the report published by the Sky News, people will come to know the stats of the money put into the crypto market by the retail investors and businesses.
Retail investors started putting money into the bitcoin market around the middle of 2017 after witnessing the immense progress of the market at that time. The market reached a fantastic place worth $20,000 in 2017. However, it started falling suddenly this year, which perplexed people and market were lost and volatile.
The report indicates the different investment behavior of the UK people. Not everybody entered the market with a clear mind. Some came with short-term goals and earned millions out of it before the market fell.
Some found it as the easiest way of earning money without many efforts. For some, it was just a gamble; they had no goal or expectations. Most of the people wanted to gain from the increasing value of the market. Bitcoin was $1000, which skyrocketed to $10,000 just in a few months. This progress was glittering enough to attract money across the world.
Very few expected it to fall, those who did were right. These people left the market after earning enough for them self. They got saved; rest suffered.
Nothing could better reflect the gloomy market situation than records kept by the UK Companies House records. As per the records, almost 340 bitcoin and crypto ventures filed for liquidation or dissolution in 2018, which was lesser than the count of 139 last year. Among these 340 companies, 200 were formed in 20017 and dissolved a year after. Which means, almost 50 of the crypto companies established in 2017 had to close the venture within a year.
It was happening for the first time that the number of dissolving companies was more and increasing faster than the number of companies getting registered.
Retail investors of the UK who remortgaged their homes or took personal loans to invest in bitcoin were broke.