Three Arrows Capital CEO, Zhu Su, explained why many investors are not selling their crypto holdings despite the strong correction in the market.
Zhu Su, CEO of Three Arrows Capital, one of the leading companies in the crypto world, summarized the behavior model of current Bitcoin investors on his Twitter account. As the on-chain data shows, Bitcoin investors who have been holding their assets for more than a year, on the other hand, continued to add to their assets.
CEO, the behavior of investors who continue to hold their assets despite major corrections, bears witness to the bearish behavior in 2018 and 2019. explains the unpleasant experience they had by selling from the bottom in the market. As it is known, the crypto market experienced a great recovery and rise between 2020 and 2021. The growth in some altcoins has reached gigantic proportions.
The largest Bitcoin holders, on the other hand, do not follow such a pattern. This group of whales has slumped from 2,500 to 2,100 since January 2021. With the latest drop, nearly 100 whale-class wallets holding more than 1,000 BTC were destroyed. However, there is also the possibility that these wallets are distributed among smaller wallets.
Bitcoin continues to decline as the Russia-Ukraine tension continues to affect the markets. Bitcoin has dropped to $ 37,200 today. At the time of publication, it is trading at $ 38,600.
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