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Investment fever recorded in Russia despite the crisis
CONTENT

  • Investment in both traditional and cryptocurrency markets has grown in Russia.

  • Russia has already reached 2017 values ​​when bitcoin was experiencing a historic rally.

  • Perhaps the bear market will last longer than many would like..

International consortium of news organizations developing transparency standards.

The number of investors in the Russian stock market has already grown to 5 million people.

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Despite the economic downturn, the number of persons interested in brokerage services in the first quarter grew by 17.8%, reaching 5 million persons, the Bank of Russia reports..

The main reason for the increase in investment activity, according to the regulator, was the market volatility that arose due to the destructive effects of coronavirus infection around the world..

In addition, the number of active investors has grown and amounted to 16.5% of the total number of clients, according to the materials of the Bank of Russia based on the results of brokerage activities for the first quarter of 2020.

The number of opened individual investment accounts (IIA) increased to 2.2 million units, where 66% are serviced by brokers.

Multi-sectoral growth

Along with the growth of activity in the traditional stock market, activity in the cryptocurrency segment also increased..

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So, according to CryptoDiffer, in April Russia became the world leader in terms of bitcoin trading volume on the peer-to-peer platform LocalBitcoins.

At the same time, according to the analytical resource Coin Dance, the weekly bitcoin trading volume in Russia reached the level of October 2017. Recall that just a month later in 2017, the famous cryptocurrency rally began, which pushed the price of bitcoin up to $ 20,000.

Many traders have so far taken a wait and see attitude, as they are afraid to jump into the market ahead of time due to the increased volatility.

However, for those who still want to catch the cryptocurrency rally before anyone else and not lose all their funds ahead of time, the BeInCrypto editorial team has already described a step-by-step strategy on how to protect a cryptocurrency portfolio even in a bear market.

The storm before the rally

The prolonged bearish trend is hinted at by the ambiguous situation in the mining market, where large Chinese players are forced to start shutting down mining centers so as not to fall under the flywheel of regulatory pressure.

This is due, first of all, to the unstable situation in the Chinese province of Sichuan, which is considered the world center of mining.

There, local authorities are forcing miners to turn off farms in order to redistribute electricity for other enterprises amid a prolonged drought..

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What do you think? How long will the investment rush last? Share your thoughts with us in the comments and join the discussion in our Telegram channel.

Disclaimer

All information contained on our website is published in good faith and objectivity, and for informational purposes only. The reader is solely responsible for any actions he takes based on the information received on our website..

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