Large investors buy bitcoin when the market falls

Institutional investor digital asset management company NYDIG announces interest in acquisitionbitcoin after the depreciation on Sunday.

"Our platform has been exclusively on the side of buyers in the last 24-48 hours."- wrote NYDIG research head Greg Cipolaro in today's mailing list.

Bitcoin price has risen over the past weekto new highs of about $ 65,000, after which it plummeted to $ 51,000. At the time of publication, bitcoin is quoted at about $ 55,000 with an increase of 90% since the beginning of the year. The growth is associated with the interest of institutional investors, due to the desire to hedge inflation in national currencies.

“During such periods of risk aversion, institutional investors adhere to a buy-on-pullback mentality, which implies an increasing disposition on their part to the volatility of bitcoin,– writes Sipolaro.

We believe that the root cause of the saleis about investor positioning, not fundamental news. In other words, traders used large amounts of leverage in long positions, which resulted in forced liquidations. "

He also noted a significant excess of the price of bitcoin on the Coinbase exchange over the levels of Binance:

“The difference in the spot market, which is usually very small, reached 3% at some point. We believe this data points to the source of seller pressure in Asia, not North America. ”

At the same time, senior strategist at Bloomberg MikeMcGlone warns of the presence of a deflationary move negatively affecting commodity prices, including bitcoin as a hedge against inflation.

“The fact that the most significant commodity inthe world, crude oil is trading at the same level as 16 years ago, despite unprecedented monetary stimulus measures, speaks of the consolidation of deflationary forces "- writes McGlone.

Since the financial crisis, commodity prices have fallen 60% relative to the US M2 money supply, while the S&P 500 has outperformed it by 40%, according to a Bloomberg report.

“The tide in the stock market must continue,otherwise deflation will prevail. If WTI does not hold above $ 70 a barrel, little will be able to stop the same deflationary forces that marked the peak of the 10-year US government bond yield of about 3% in 2014 "McGlone said.

New report from CoinSharesshowed that over the past week, the inflow of assets into investment products based on cryptocurrencies amounted to $ 233 million, exceeding the values ​​of the previous week by almost three times.

“This week's inflows have been unusually spread across digital assets, writes CoinShares, noting that Bitcoin raised $108 million, and Ethereum — $65 million, an impressive amount relative to the capitalization of two cryptocurrencies.

XRP was among the most demanded andraised $ 33 million, which almost doubled assets in products based on it to $ 83 million. Investment products based on digital assets showed significantly higher turnover this week. It corresponds to a 59% rise over the previous week and early February levels. "

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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