NYDIG clients bought bitcoin at local lows
21.04.2021 | auglovoi
New York Digital Investment Group, which specializes in digital asset management for major investors, told how institutionalists reacted to the recent drop in the bitcoin price to local lows. According to Greg Sipolaro, head of strategic planning, the big players only stepped up their buying during those two days of correction. While the price was at a low, not a single unit of the cryptocurrency was sold.
According to the strategist, the current drawdowns are due to technical reasons, while there are no fundamental prerequisites for the fall. Institutional investors are ready to buy any volume of drawdowns, which indicates a high degree of confidence in digital assets. That is well illustrated this week, when the price fell 14% on Sunday and then bounced back to the average of the past two weeks. The next day, Monday, the bears tried to make another run and break the psychological low, but the whales bought out that volume as well.
The first cryptocurrency is now trading in the $55 000 to $60 000 range, which is a great time to build up long positions.