Strong optimism regarding cryptocurrencies:
Analyst comments on the Deutsche Bank report
The future of cryptocurrencies
Deutsche Bank's report, "The Future of Cryptocurrencies," is an unlikely but welcome source of hope during the current crypto market jitters, and sheds light on possible bullish activity in cryptocurrencies. A critical survey for the report suggests that neither traders nor investors are likely to part with their cryptocurrency holdings in the event of a bear market. Marion Laboure, director of macro strategy at Deutsche Bank, told Cointelegraph: “It is interesting to note the strong optimism regarding cryptocurrencies. Even in an extremely bearish cryptocurrency market where prices fell 80%, less than half of investors say they would scale back or exit the market."
DB found 3,250 Americans in early December 2021, of which 680 used cryptocurrencies. The survey was intended to be representative of the US Census, spanning different genders, ages, income levels, regions, and races/ethnicities.
The report divides the results into three groups: traders, investors and those who make transactions. The majority are investors: 80% of those surveyed admitted to having invested in cryptocurrencies in the last six months.
Even in an extremely bearish cryptocurrency market, less than half of traders (representing more than 35% of those surveyed) said they would cut back. Furthermore, more than 70% plan to increase (significantly or slightly) their cryptocurrency activity in the next six months.
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