Bitcoin Investors Are “Healing Wounds”” Despite Leaping 15% Over The Weekend

    Bitcoin Investors Are “Healing Wounds”” Despite Leaping 15% Over The Weekend According To The Expert, The Lack Of Strong Trading Volumes Indicates A Lack Of Institutional And Retail Interest. After a sharp sell-off last week, prices spiked more than 15% over the Bitcoin weekend. One bitcoin (BTC, +3.48%) on Monday was worth around $35,000 at the time of writing, according to the CoinDesk 20 data show. On Friday, the cryptocurrency was observed to have risen 5% during the Asian trading session, falling more than 8% despite the approval date of bitcoin law in El Salvador and news of a $30 bitcoin e-wallet backing airdrop.

According To The Expert, The Lack Of Strong Trading Volumes Indicates A Lack Of Institutional And Retail Interest.

“An unprecedented influx of FUD is causing bitcoin to struggle to stay afloat,” Jehan Chu, managing partner of Hong Kong Kenetic Capital, told CoinDesk. Like the trend seen throughout the month Bitcoin's daily trading volume remained low, especially over the weekend. Other major cryptos, ether (ETH, +9.48%) vs. continue to move in the flow of bitcoin, making their way over a 24-hour period. During this time, Asian stocks are mostly green, down less than half a percent.  

Source: CoinDesk

 

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