Crypto Market Update: Retail traders seize investment opportunity buying BTC on dips.

Retail investors seek buying opportunities

According to the recent statistical data compiled by  Coin Metrics, the number of addresses with a small number of coins has been growing steadily since BTC collapse in March, which means that retail investors have been taking the dip as a buying opportunity. The experts believe, a considerable price decrease made Bitcoin more affordable and gave retail investors the way in. The report says:

The number of addresses holding between one billionth (1/1B) and one hundred millionth (1/100M) of the total BTC supply (i.e. between 0.000000001% and 0.00000001% of total supply) has increased about 6% over the last 90 days. Similarly, the number of addresses holding between one hundred millionths (1/100M) and one ten-millionth (1/10M) of total supply increased about 4%.

This trend may signal that the interest in digital currencies is growing. New users come to the market, which is a potential sign growing crypto adoption, Coin Metrics analysts believe. 

This data is supported by Bitwise statistics that showed a significant trading volume increase on popular cryptocurrency exchanges.

Top-3 coins overview

BTC/USD is changing hands at $7,270. The first digital coin has lost nearly 1.5% since this time on Tuesday. A failure to move above $7,500 triggered the downside correction. While the short-term trend is bearish, in the long-run, BTC retains positive bias as long as it stays above $7,000.

ETH/USD has lost 2% in the recent 24 hours to trade at $168.30 at the time of writing. Despite the retreat from the recent high of $176.48, the coin retains bullish bias and a chance to reach $200.00 once the correction is over. The vital support comes at $150.00.

XRP/USD broke back below the psychological barrier of $0.2000 and hit the intraday low of $0.1916. At the time of writing, the coin is consolidating at $1980 with short-term bullish bias amid low volatility.