By Senad Karaahmetovic

The average investor’s position in on the Coinbase platform is $21,000, Mizuho’s survey showed.

Results of the survey also showed that almost 50% reported no intention to sell Bitcoin regardless of how low the price goes, according to Mizuho’s Dan Dolev. If BTC reached $9,000, half of those surveyed would be open to selling.

“The more Bitcoin nears those levels, the number of investors who are in the green declines. Indeed, with Bitcoin currently at ~$29K, the average investor is 25-30% above the break-even point,” Dolev said in a client note.

At current levels, around 30% of participants may be underwater. If Bitcoin drops below $20,000. this will make it more likely that over half of participants are underwater.