Even with a big correction, after weeks of inactivity and new focus on real rates, bitcoin's most patient investors are still holding onto their coins.
Even after a big correction, which followed weeks of almost complete inactivity, and a new focus on real rates, bitcoin's most patient investors are still holding onto their coins. The cryptocurrency closed at $25,972.52 on Friday and lost 0.25% for the week – its eight negative week in the past nine, according to Coin Metrics. It had posted an 11% decline for the previous week. Coin Metrics measures a week in crypto, which trades 24 hours a day, from the 4:00 p.m.
"There hasn't really been a big change in fundamentals," said Gustavo Schwenkler, associate professor at the Leavey School of Business at Santa Clara University and cofounder of Indicia Labs. "Right now what's really happening is people are just waiting it out. We don't know what's going to happen with the SEC or if there will be new policies potentially. It's been unclear where crypto is going to go in the U.S." from a regulatory perspective.
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