Here’s why IOST, Horizen (ZEN), and Avalanche (AVAX) spiked when Bitcoin crashed
The recent drop in Bitcoin (BTC) could have been caused by profit booking by institutional investors, according to a report by crypto fund manager CoinShares. The report noted a sharp drop in institutional inflows during the first week of the new year and weekly outflows of various crypto investment products. Daily view of crypto market data. Source: Coin360 While the recent 28% decline may have spooked some new investors, the HODLers probably were unfazed, as they encountered six larger corrections during Bitcoin’s massive bull run in 2017. So describe a 20% drop as a bear market may not apply to cryptocurrencies IOST / USDT Daily Chart. Source: TradingViewZEN / USDT daily chart. Source: TradingViewAVAX / USDT daily chart. Source: TradingView Continue reading on Coin Telegraph
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