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Cryptocurrency news

The price of BTC keeps above $10,000 for a month for the second time in the history of the cryptocurrency

Traderce Exchange: 60% of crypto investors buy bitcoin first

Thursday started with growth for all cryptocurrencies from the top 10 of The coinmarketcap resource capitalization rating. As of 07:42 (Moscow time), bitcoin is trading at $9317. Yesterday, the cryptocurrency exchange rate was below the level of $9 thousand. Before halving on the night of may 11-12, the price of BTC exceeded $10 thousand.

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Traderce Exchange: 60% of crypto investors buy bitcoin first
Data: CoinMarketCap
Earlier, an analyst at Capriole Investments, Charles Edwards, spoke about the importance of BTC growth after halving the level of remuneration for cryptocurrency mining. The expert believes that the lack of positive movement of the bitcoin exchange rate may lead to the surrender of miners.

According to participants of the crypto community, in order for the cryptocurrency to enter active growth, it needs to overcome the level of $10,500.

Traderce Exchange: 60% of crypto investors buy bitcoin first

At the same time, users pay attention to the fact that each halving led to a positive movement in the price of BTC.

Meanwhile, experts from the popular digital asset exchange Traderce Exchange analyzed the position of BTC on the market. In the course of the study, they drew attention to the peculiarities of changing the level of cryptocurrency dominance. During periods of active growth of the BTC rate, the interest of members of the crypto community in altcoins increases.

Traderce Exchange: 60% of crypto investors buy bitcoin first
Data: Traderce Exchange research
Experts explained the feature by the psychology of market participants-confidence in bitcoin gives rise to the desire of users to find alternative options for equally profitable investment. For example, during the active growth of BTC in 2017, researchers recorded a surge in interest from Ethereum. During this period, the cryptocurrency gained popularity due to numerous ICOS based on the project’s developments.

Traderce Exchange analysts also analyzed the statistics of cryptocurrency purchases on the exchange for 2019-2020 from accounts whose owners made at least 5 operations on the platform. It turned out that 60% of users buy BTC first. In 40% of cases, bitcoin becomes the second purchase. 36% of users later purchase altcoins, 24% stop at BTC.

Traderce Exchange: 60% of crypto investors buy bitcoin first
Data: Traderce Exchange research
Earlier, an analyst at Capriole Investments, Charles Edwards, concluded that against the background of the halving of BTC, the cost of mining cryptocurrencies increased to almost $16 thousand.