No need to apologize.  Proper interpretation of research results can get pretty nuanced, which is why it's hard to write about, and even harder to read about sometimes.


Oh I get it now, I had a reading comprehension fail there, apologies. 

Thanks for patiently explaining!

optimism

econ

Research in Public #06: Unprofitable users exit more when btc price high

SimpleStacker

I showed that it matters directionally, but that the effect looks fairly small in magnitude (a huge swing in monthly price growth from -5% to +5% would only change the exit rate of an unprofitable user by 0.8 percentage points).

So, either all users are responsive to bitcoin price, just minimally so, or most users are unresponsive and a few are responsive.