Some investors saw the sharp decline in Bitcoin and altcoins as a buying opportunity and increased their holdings.
At this point, the Coinbase CEO stated that individual investors buy cryptocurrencies during price drops.
Coinbase CEO Brian Armstrong, posting from account X, stated that individual investors tend to buy crypto during price dips.
Based on the internal data of Coinbase, Armstrong said “It is a fact that individual investors buy Bitcoin ($BTC) and Ethereum ($ETH) when prices fall; trading volume increases with price declines.”
“According to our data, individual users on Coinbase have been quite resilient in these market conditions:
– They took advantage of the dips to buy – We saw sales for retail users across $BTC and $ETH. Paraphrasingr ’It is.
And Armstrong also emphasized that “diamond hands” are the trend of individual investors, who hold onto their assets even when they have short-term price fluctuations “Most of our clients’ local unit balances as of February were identical (or higher than) those they had in December last year. , ” and.
Experts see the fact that individual investors are buying at low prices despite the slow flow of institutional funds as an important signal in short-term supply and demand is seen as one of many key signals for recovery attempts to continue after the sharp decline in Bitcoin and altcoins. Yet given the macroeconomic environment and structure of derivatives market, it is noted that more catalysts are needed for growing retail demand to reverse the trend.
*This is not investment advice.
Thanks for reading Coinbase CEO: “Investors Made Huge Buys of Bitcoin (BTC) and This Altcoin During the Decline!”
