Australians Remain Positive About Investing On The Cryptomarket Despite The Recent Price Drop

Wednesday 13 January 2021, 2:00 PM AEST - 2 weeks ago

Despite the recent bearish run in the crypto-market, Aussies remain positive about investing in cryptocurrencies, especially in Bitcoin, with greater inflows of investors in crypto exchanges daily.

CEO of Bitcoin Markets, Caroline Bowler, stated that in the first weeks of January, BTC Markets registered an increased inflow of Australians looking to trade the cryptomarket on her platform. The recent price drop has given an entry for retailers who probably missed out on the all-time high of $40K or are looking to enter the market again by buying the dip.

“It’s just been unrelenting. We are now onboarding thousands of Australians a day who are looking to trade cryptocurrency. In the second half of last year we onboarded 40% more customers than we did the previous half, and in just the first six days of this year, we brought in 16% of last year’s total.”

Stated Bowler for Business Insider Australia.

Aussie Businesses Among The Most Crypto-friendly

Similarly, the number of businesses in Australia embracing crypto grew considerably by the end of 2020, with an increase of 94% globally. According to Stex Exchange, Australia is currently the third country with the most crypto-friendly businesses, with more than 700 places accepting crypto payments.

Currently, Bitcoin is back on the US$35,000 resistance level, after suffering a price drop of almost -12% starting this week, from $US42k to 30k. Several Aussie analysts believe 2021 could set the bar higher for the crypto-market, with greater adoption of cryptocurrencies globally.

Disclaimer: The content and views expressed in the articles are those of the original authors own and are not necessarily the views of Crypto News. We do actively check all our content for accuracy to help protect our readers. This article content and links to external third-parties is included for information and entertainment purposes. It is not financial advice. Please do your own research before participating.