In an interview with CNBC, Kristin Smith, executive director of the Blockchain Association, noted that the current volatility of bitcoin appears to be leveling off compared to other months.
The main reason is that retail investors have largely withdrawn from Bitcoin investments, and they currently do not have the ability to put their excess money into Bitcoin.
But she believes that investors who are still investing in bitcoin today will stick around for the long haul. “As we start to see the economy recover and people put more risk into their portfolios, we’re going to see an increase in investment in bitcoin followed by an increase in price,” Kristin Smith said.