Coinbase Predicts Crypto Market Down Trend in Q3 !
According to Coinbase, two metrics are sending warnings on the likely fortunes of the crypto exchange in Q3 – trading volumes and the number of monthly transacting users (MTUs).
The exchange expects MTUs to be lower in Q3 compared to Q2 and for a higher portion of MTUs to be non-investing users compared to investing users compared to Q2.
One reasons trading volumes are falling is due to the number of users holding to their crypto with diamond hands and are refusing to sell.
The exchange is seeing similar levels as 2018-2019 crypto market downturn where the percentage of users continuing to hold BTC and ETH for extended periods of time.
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