A bear market is not for the faint-hearted, nor is it usually the right time to take big risks. But there are clear signs that Bamboo users are becoming more informed with their investing strategies. Many have learnt that bear markets are the time to sow the seeds of future investment successes.
With all the hype of the last bull market, trading altcoins on major investing platforms became somewhat of a pop culture. It has been widely reported that trading volume is generally down on exchanges as prices across Bitcoin and Ethereum have fallen into a bear market. Coinbase recently reported they have experienced another 30% drop in volume compared to their first quarter. With Bloomberg also reporting the lowest spot volumes on crypto exchanges since December 2020.
Here at Bamboo we’ve always implored the idea of dollar cost averaging regardless of market activity - sensible, educated investing. And it seems our investors, most of which are new to the space, are taking on the lessons learnt from previous market dips such as the GFC, Covid Pandemic and other crypto cycles.
We have noticed that despite market volatility, our investors are continuing to Dollar Cost Average and show no signs of panic. Despite the negative price action, users are investing at a record rate - eclipsing activity in November 2021 which was the previous Bitcoin all-time high. As well as this, for the past 3 months Bamboo has seen record inflows since inception of the app.It’s an interesting time for crypto as a whole with the bear market continuing despite ongoing adoption from major companies and global brands as well as project developments such as the upcoming Ethereum merge.
It might be an uncertain time in crypto but based on this data one thing is for sure, Bamboo investors seem to have conviction on their thoughts as to where the space will be going in the long term and how they’re going to get there…They’ll be DCA and chilling all Winter!