New evaluations on crypto money investments…
After Bitcoin hit the $26,000 level, the panic environment in the market worried many investors with the expectation that it would go down. However, in addition to these concerns we hear around us, there are also those who welcome this decline of Bitcoin with great appetite.
According to the weekly report of Coinshares, the week ending on the evening of May 13 saw a record entry for this year, and $298.6 million was invested in Bitcoin in this drop alone. Thus, the amount of funds entering Bitcoin since the beginning of the year has increased to $463 million. Bitcoin received 65% of the investment it received in the last 5 months just last week.
At the same time, Barclays’ and Goldman Sachs had bought the cryptocurrency platform company that week when the LUNA-induced decline was experienced. For this reason, we can say that it was the small investor who was worried again. Again, the increase in the amount of Bitcoin entering the addresses in the chain data may be a sign that the $29,000 – $30,000 region we are in is making major support work.
When we consider all these data, the possibility of the next move in the upward direction gains weight. The current horizontal narrow band movements of $29,300 – $30,600 in Bitcoin continue. Although there is no breakout yet, the hold above $29,300 is critical for Bitcoin.
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