RATE Group | Bitcoin frenzy settles down as big players muscle into market
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Bitcoin frenzy settles down as big players muscle into market

30 Apr Bitcoin frenzy settles down as big players muscle into market

Posted at 04:24h in Bitcoin News by

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The cryptocurrency landscape has indeed changed. Mum and dad  investors who drove bitcoin’s skyrocket rise in 2017 have been pushed aside by government bans on trading, and replaced by cryptocurrency funds, wealthy individuals and established financial firms.

The bigger players can make bigger moves, but their trades are often obscured by screens on over-the-counter (OTC) brokerages and matching platforms.

Mum and dad  investors who drove bitcoin's skyrocket rise in 2017 have been pushed aside by government bans on trading.

Mum and dad  investors who drove bitcoin’s skyrocket rise in 2017 have been pushed aside by government bans on trading.

Photo: Bloomberg

They are also less likely to chase sudden swings in bitcoin’s value, being more interested in the potential of unproven but promising blockchain technology.

Average daily traded volumes across cryptocurrency exchanges fell to $US9.1 billion in March and to $US7.4 billion in the first half of April, compared with almost $US17 billion in December, according to data compiled by crypto analysis website CryptoCompare.

Several exchanges saw their daily…

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