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27 September 2020

COVID-19 shook out retail investors but emboldened BTC whales: Report

COVID-19 shook out retail investors but emboldened BTC whales: Report


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As the COVID-19 pandemic began, retail and institutional Bitcoin investors took very different approaches, new research from OKEx Insights and Catallact showed. .

Based on the data, retail transactions “decreased and deviated away from the price’s trend—suggesting that retail investors took a wait-and-see approach as BTC a season-long, post-crash accumulation period” around May. .

Transactions of 5,000 BTC and upwards also saw spikes from mid-May to mid-July, which led the researchers to two potential conclusions: cryptocurrency exchanges may have been shifting coins in various wallets for different reasons, most likely security, or large institutional investors entered the market and accumulated BTC in anticipation of prices increasing or decreasing

Large investors, on the other hand, “bought the dip” and began accumulating BTC. 

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cointelegraph.com
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