BTC Retracements Could be Positive
Grayscale’s CEO also touched upon the recent downtrend in the cryptocurrency market, in which BTC lost more than 50% of its value since the mid-April peak.
He attributed the adverse developments to the Chinese ban on mining to an extent but noted that long-term investors had used this opportunity to accumulate a larger portion on lower prices.
Commenting on BTC’s declining volatility as of late, Sonnenshein also indicated that such investors look at a more macro scale, and smaller movements do not interest them.
BTC Retracements Could be Positive
Grayscale’s CEO also touched upon the recent downtrend in the cryptocurrency market, in which BTC lost more than 50% of its value since the mid-April peak.
He attributed the adverse developments to the Chinese ban on mining to an extent but noted that long-term investors had used this opportunity to accumulate a larger portion on lower prices.
Commenting on BTC’s declining volatility as of late, Sonnenshein also indicated that such investors look at a more macro scale, and smaller movements do not interest them.