Russian crypto traders are buying Bitcoin dip as long-term belief remains strong
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Almost a third of Russian traders are taking advantage of lower cryptocurrency rates right now, convinced that the market will return to growth. The majority of participants in a recent poll believe in a better future for Bitcoin and the likes, while many of them are reporting losses as a result of the latest downturn. Russian crypto investors keep buying Bitcoin Despite the recent steep decline in prices, many in Russia are optimistic about the long-term potential of cryptocurrencies in terms of investment opportunities. That’s according to a new survey conducted among the subscribers of RBC Crypto, a major source of news in the Russian digital asset space, part of the business information portal RBC. Almost a third of the respondents are currently acquiring coins, while many admit to losing money on their previous purchases, the pollsters found out, highlighting: “Market sentiment survey results showed that 30.09% of participants ‘believe in growth and are buying’.” Over a quarter, a little more than 26%, described the situation as “difficult,” falling into a segment that’s “in the red.” Around 20% of the questioned traders said they had “everything under control” and are adapting to the new market realities. Approximately 17.5% are “watching from the sidelines,” and almost 6.4% agreed with the statement “undecided.” The price of Bitcoin (BTC), the cryptocurrency with the largest market cap, recently dropped below $100,000 for the first time in four months. That of Ethereum (ETH), the coin with the second-largest capitalization, fell to $3,000. The authors of the study commented: “Such a sharp decline is rare. Almost all altcoins in the top 100 are in the red, and crypto exchanges have liquidated traders’ positions worth billions of dollars in just a few days.” The prices of major cryptocurrencies have recovered slightly since then, with BTC trading above $102,000,…
