For the long haul? When Bitcoin nosedived, institutions held fast
Cointelegraph
Published May 28, 2021 11:44AM ET
Updated May 28, 2021 01:20PM ET
Mid-May’s price plunge was one of crypto’s wildest pullbacks in recent years, a tumble that eliminated nearly $1 trillion from crypto’s market value.
The industry had soared to new heights a month earlier, with Bitcoin (BTC) reaching almost $64,000, driven in good part by institutional investors. Now that some calm has returned to the market, bears are asking: How did institutions behave during the recent collapse? Did they jump ship or hold firm with their investments? And what impact might the pullback have in future institutional participation in the cryptocurrency and blockchain industry?
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Written By: Cointelegraph
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