BTC, XRP holdings increasing on eToro amidst crypto crash

20 Nov, 2018
by Arthur Sillers
BTC, XRP holdings increasing on eToro amidst crypto crash

According to Mati Greenspan, the head market analyst of eToro, crypto holdings actually increased on the crypto exchange following the bitter hard fork and hash war which led to a precipitous market sell-off, one that sees Bitcoin plummeting below $5000 with no sign of stopping.

 The senior member of the eToro team has taken to Twitter today to jovially rebut the doom and gloom most traders faced today as an absolute bloodbath has drastically lowered every single major cryptocurrency’s value-, which Greenspan characterizes as a ‘buyers market.’

Greenspan’s tongue-in-cheek praise of what appears to be a calamitous market downturn is backed by data from eToro’s analytics which in fact show increased holdings in a number of tokens. Traders in fact have slightly increased their holdings of BTC, and XRP- apparently buying the dip caused by the fallout of the BCH hash war- something with Greenspan also notably downplays the market importance of, as well as evidently increasing SEC scrutiny.

While many investors apparently agree with Greenspan’s prognosis and insistance on HODLing, its not clear how low the crypto price will go, and if or when it will see significant recovery. Indeed, amidst a market free fall on a commodity which is notoriously volatile, investors getting on board a product which has no viable product doesn’t necessarily indicate market health. eToro notably caters to non-expert sellers, and its flat or increasing investor holdings likely don't reflect the behavior of large institutions which represent the bulk of crypto capital.

What the increasing buy in does mean, is thatpeople are still invested in the space, and shows overall optimism about crypto has certainly not died out.

Read more: Crypto crash: BTC collapses to a low not seen since October 2017

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