Why are people investing in Bitcoin now?

On-chain data suggest that Bitcoin retail investors are currently in a buying frenzy. Since the rapid crash from $ 8,000 to $ 3,600, individuals have started buying more Bitcoin from eToro, Coinbase, or Binance.The surrender-like fall that Bitcoin suffered on March 12 went down in history books as the cryptocurrency dropped from highs of over $ 8,000 to lows of $ 3,600 within a few hours – a day that is now known in the crypto world as “black.” Thursday ”is called.However, the price action after this sell-off appears to highlight the strength of the digital asset, which has even caused an analyst to say that it will make Bitcoin the “most resilient asset in the world”.This overt resilience could trigger an ongoing buying frenzy that Bitcoin investors are currently in as data suggests that BTC holders are piling up at a rapid pace.

 

Bitcoin’s recovery since lows strengthens sentiment

Bitcoin has seen a remarkable upward trend and has risen to $ 7,550. The response to this decline against the backdrop of global economic turmoil has prompted Luke Martin – a respected cryptocurrency analyst – to declare that this move has confirmed BTC’s status as “the most resilient asset in the world”.