The FTX crisis kept the bitcoin price in check
Under pressure in November, but data from Bitstamp shows that institutional investors may be looking at the dip as a buying opportunity. The exchange told Cointelegraph that its revenue from institutions increased by 34% in November compared to October.
In another positive sign, Goldman Sachs CEO Matthew McDermott told Reuters that the bank is doing some due diligence on cryptocurrency companies as they have been “priced more reasonably” after the FTX crash.
Daily cryptocurrency market performance. Source: Coin360
ARK Invest said in its latest Bitcoin Monthly Newsletter that while the FTX implosion “may be the most damaging event in crypto history,” decentralized blockchains are “as strong as ever.”
Could Lows Attract Buyers in Bitcoin and Altcoins? Let’s study the charts of the top 10 cryptocurrencies to discover the levels where buyers might step in.