March 8 (Reuters) – Bitcoin’s been known to freak out when Elon Musk tweets a broken-heart emoji. So why isn’t it flying off the handle as we seem to stand on the precipice of World War 3?
That could be down to the new HODLers, in part.
Young retail investors betting on bitcoin as a long-term proposition rather than for quick gains are swelling the ranks of these true believers, whose name emerged years ago from a trader misspelling “hold” on an online forum.
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This trend could help stabilise the notoriously volatile crypto market and potentially provide a long-term floor, according to some market watchers who point to the fact bitcoin is up about 5% versus before the Russian invasion.
A study by multi-asset retail investment platform eToro, which says it has millions of users, found that those aged 18 to 34 were far more likely to invest in crypto than anyone else, with 66% of that age bracket owning bitcoin and other digital currencies. That’s up from 46% last July.
Perhaps more tellingly, more than a third of those invested…