Matrixport Attributes Bitcoin's Decline To Korean Investors, Excludes Germany And Mt.Gox
Matrixport’s recent analysis explores the correlation between Bitcoin’s decline and the influence of Korean investors, positing that the recent downturn may have been influenced by retail investors from South Korea.
According to Matrixport analysts, a significant portion of Bitcoin’s decline in the last month, accounting for 13% of the total decrease, occurred during Asian trading hours.
They suggest that Korean retail investors have played a role in this decline, as the majority of Bitcoin’s overall decrease has been observed during these trading hours.
There is also speculation that institutional investors are increasingly replacing retail investors in the market.
The analysts note a shift towards stability in the market, with minimal weekend volatility as institutional trading patterns from Monday to Friday set the tone.
They further observe that Bitcoin’s market dynamics are increasingly driven by institutional investors due to reduced retail activity, contributing to lower volatility.
The report underscores the substantial contribution of South Korean exchanges to Bitcoin transaction volumes annually.
It also highlights the pivotal role of Korean investors in altcoin trading volumes, particularly as South Korea lacks a crypto futures market, prompting retail investors to often turn to altcoins for leveraged opportunities.
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