The number of retail investors registering for an account with Japanese cryptocurrency exchange bitbank spiked by 40% in the week after the Bitcoin bloodbath.

The March 12 meltdown saw the price of Bitcoin (BTC) drop to a new 2022 low at $iii,775. An official web log postal service by bitbank market place analyst Yuya Hasegawa reveals that Bitcoin trade volume and account registrations both saw a significant surge in the wake of the crash.

Even the number of users going through KYC was above average on the day of the BTC downturn and the following couple of days.

Hasegawa contrasts the electric current situation to the period betwixt November to December 2022 when the price of Bitcoin basis downward. In that instance, "interest in the crypto market as a whole went downward and bitbank's daily account registrations took a hit."

Notwithstanding, the toll saw a 60% rebound while sustaining high volumes soon after the contempo crash, which suggests to Hasegawa "the intent to purchase the dip is quite obvious":

"When we accept the increased daily account registrations into consideration, we can once again deduce that the current market place recovery is driven largely past retail investors. Furthermore, every bit Forbes reports, this miracle is likely to exist global, as Kraken, a San Francisco-based crypto commutation, experienced a steep increase in business relationship registrations after March 12."

Bitcoin halving makes it a safe bet

In just under 49 days, BTC volition experience a halving where the cake reward will decrease to 6.25 BTC. The final time this happened was in 2022.

Hasegawa writes that data from Google Trends suggests that investors in Japan and effectually the world are well aware of the possible toll impact of the halving and will seize on any price drop to add to their holdings:

"There is a good take a chance that, for this time around, there are many retail investors who desire to buy Bitcoin or stack upwards their holdings at the cheapest price possible before its halving."