The clients of New York Digital Investment Group (NYDIG), an institutional platform focused on investors, have taken advantage of the recent fall in the price of BTC to buy the crypto.
This has been confirmed by the company strategist Greg Cipolaro through his official Twitter account:
"Our desk has been a net purchaser over the past 24-48 hours."
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Last April 18, the price of the leading cryptocurrency plummeted from $61,000, and it has failed to recover, as it is currently trading at around $56,000.
The NYDIG analyst explained:
"Institutional investors have had a buy-the-dip mentality during these risk-off events, suggesting increasing ease with handling bitcoin’s volatility. We believe the root cause of the sell-off had to do with investor positioning rather than fundamental news. Simply put, traders were overleveraged and positioned long."