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Meanwhile, the total outflow for the group registered $168 million, which represents approximately 0.3% of the total assets under management . Noteworthy to state that Grayscale accounted for one-third of it. Balchunas predicted that this week will register more outflows up to the tune of billions or the equivalent of 5%. Overall, the renowned analyst has expressed shock at the reaction from some investors in the crypto market.
“Even I've been surprised by the HODL ability of the boomers and equally surprised by the weakness of the natives. My lord you finally have ETFs here bringing in $17b and you can't just chill?” Balchunas queried., the chairman and co-founder of MicroStrategy, sent out reassurance to members of the community. Saylor urged everyone to believe in Bitcoin despite price volatility. The Bitcoin enthusiast has consistently maintained a bullish stance on the digital asset.
Similarly, Peter Brandt, a legendary trader, remains optimistic that Bitcoin will still surge to his predicted $90,000 level after this price correction. At the time of writing,Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments.
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