Here’s why IOST, Horizen (ZEN) and Avalanche (AVAX) surged when Bitcoin crashed by Cointelegraph

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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