कोशिश गोल्ड - मुक्त
Retail traders sitting out Bitcoin rally
The Straits Times
|May 15, 2024
Latest revival more an institutional affair propelled by birth of Bitcoin ETFs in the US
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What has happened to the army of retail traders who drove Bitcoin's biggest rallies? US crypto exchange Coinbase reported just US$56 billion (S$75.8 billion) in consumer trading volumes in the first quarter of 2024, when Bitcoin leapt to record heights close to US$74,000.
While that represents a fledgling recovery in retail interest - almost double the level in the final quarter of last year it is way below the US$133.75 billion quarterly average during the last comparable rally in 2021.
The retail investor was in the driving seat of that wild 2021 ride, as Covid-19 lockdowns, cheap money and personal savings drove up prices of "meme" stocks and spawned bouts of intense Fomo, or fear of missing out. By contrast, the latest rally was a more solemn, institutional affair propelled by the birth of US Bitcoin exchange-traded funds (ETFs).
यह कहानी The Straits Times के May 15, 2024 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
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