There has been a massive purchase of Bitcoin by the Purpose Bitcoin exchange-traded fund (ETF) since the middle of May, this shows that stakeholders have not lost fate as they believe these BTC will hopefully be traded. Stakeholders in Canada are not slowing down on their effort to garner as much of the currency as possible notwithstanding the market correction. The price cut is a morale booster for investors.
Bybt reported that the Purpose Bitcoin ETF that was began in February has in its custody 19,692.149 Bitcoin as of June 13. Over a one week period, the platform added 284.15 BTC. From May 15 till this month, a total of about 2000 was added.
For the bullish, there are nibbling worries as regards the continuous decline in the market trend as it relates to price. The price has remained at below $40,000 since the last one month.Efforts to have it bounce back has remained futile. Some factors like technical problems, critical articles and opinions have all contributed to the bearish market trend.
There are divided opinions concerning the fate of the market amongst observers. Some are still optimistic that there will be a positive turn in the market whereas others think the current bearish trend will last a while. The financial inflow of the Purpose fund shows that investors are not particular about the current market situation, rather their hope in a positive future surpasses all.
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