Bitcoin is bought 4 times more than at the beginning of 2022

According to one of the largest banks in Singapore, DDEx DBS Bank, cryptocurrency investors have started buying cryptocurrency 4 times more than in early 2022, all due to the fall in the value of bitcoin.

According to DDEx DBS Bank analysts, the total number of bitcoins purchased on the DDEx website has increased 4 times since April 2022. During the same period, the number of investors investing in ethereum increased by 65%.

«As the digital asset industry is experiencing unprecedented volatility, investors who believe in the long-term prospects of cryptocurrency investments are buying bitcoin and ethereum in large numbers,» the bank’s representatives explained.

It is worth noting that long-term hodlers usually invest in cryptocurrencies during market downturns, expecting to make a profit in the long run. Long-Term Hodlers (LTH) create strong support for the bitcoin market bottom. According to Glassnode, LTHs control the majority of the flagship cryptocurrency (80%), while the rest of the supply is held by short-term STH holders — Short-Term Hodlers (20%).