JPMorgan Chase argues that American buyers usually purchase the height of the market. Moreover, not less than 15% of US residents are reported to have traded cryptocurrencies in his 2022.
In a brand new examine launched December 13, JPMorgan Chase claims that the extent of crypto adoption has elevated for the reason that begin of the COVID-19 pandemic. By mid-2022, 15% of his Individuals have despatched cash to cryptocurrency accounts.
Based on JP Morgan, buyers within the U.S. cryptocurrency market are displaying “herd-like habits” by shopping for market peaks. The examine states:
“Numerous American households deposited into crypto property whereas buying and selling close to most ranges.”
“The Dynamics and Demographics of Cryptocurrency Use in U.S. Households,” JP Morgan
Analysts argue that almost all U.S. crypto buyers seemingly confronted extreme losses because the bear market unfolded within the second half of 2022. Based mostly on a pattern survey, the COVID-19 pandemic was the vital driving pressure driving almost 15% of the nation’s households to spend money on cryptocurrencies, with almost 5 million energetic checking account clients. is the size of
One other key discovering is that the share of individuals transferring cash to crypto-related accounts elevated from 3% earlier than 2020 to 13% by June 2022.
Nonetheless, these transfers don’t exceed the median stream equal to per week’s take-home pay, indicating that the common particular person has minimal cryptocurrency holdings. Generally, the common quantity transferred to cryptocurrency accounts from 2015 to early 2022 was round $620.
