Institutional Investors Seize Opportunities Given by Bitcoin’s Fall
Representatives of the New York Digital Investment Group (NYDIG) reported that large investors increased their positions when bitcoin rolled below $ 52 000. Institutional investors of the NYDIG took advantage of the drop and purchased additional shares of bitcoin.
On April 18, the price of bitcoin fell by 14% from $ 62 000 to $ 52 000. At the same time, there was a surge in trading volume. On 19th April, the price of the cryptocurrency rose to $ 57 000.
The fact that institutional investment companies rushed to instantly buy the cryptocurrency during this significant decrease in price proves that even professional investors and large companies are not deterred by the volatility of bitcoin. They view this as an opportunity for profit.
NYDIG spokesman Greg Sipolaro stated that he believes the price changes are mainly caused by holders in Asia of the cryptocurrency. Based on the difference in prices- on Binance, where it is lower, and on Coinbase, where it is higher.
Unlock the potential of blockchain, crypto and decentralized technologies with the information available on the media platform Encoiner.com
