March 31, 2022
By Priyanka Shetty
Crypto prices dipped in the month of January which had made many crypto enthusiasts in the US and EU buy it, while Asian investors are showing no such interest in the same.
Here is what we know:
A new report by the blockchain analysis firm Glassnode shows that selling pressure from countries within the world’s largest continent is the highest in the last two years.
Asian Development Bank’s ( ADB) latest reading of the markets suggests that these things have affected not just investments in crypto tokens, but also the overall investment sentiment in Asia, which has ‘weakened’.
Even during 2021’s bull run, Asian participation in the markets was minimal. Furthermore, due to the market fluctuations, not all investors hold the same view when it comes to ‘buying the dip’.
Even though Bitcoin is on an upward march, Japan, China, and other major countries continue to put their faith in US treasury bills and gold. Data shows that countries prefer assets that may be low-yielding, but are safe — exactly like US treasury bills and gold.
About the author
Based in Bengaluru, Priyanka Shetty is a freelance journalist for Blockchain Asset Review.