CAN - Day Traders Still Reluctant to Return to Crypto Despite Recent Market Rally
Despite recent surges in Bitcoin, whose value more than doubled following a significant downturn, many day traders state that these gains are insufficient to lure them back into the market. As FTX cofounder Sam Bankman-Fried awaits his sentence after a fraud conviction, the industry anticipates this event will signal the end of its tumultuous phase and usher in a more stable era of mainstream acceptance. However, this maturity might mean the crypto market will no longer offer the extraordinary growth and unique trading opportunities seen in previous years.
Retail investors retreated from the market following FTX's collapse last year, causing Bitcoin's value to plummet below $16,000, resulting in a 40% decline in traders’ returns. Last week, Bitcoin surged above...
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