Deutsche Bank Says US Crypto Adoption Rebounded as Investor Sentiment Stayed Cautious
Summary
- Deutsche Bank said the crypto adoption rate in the US rebounded in March after declining in recent months.
- The report said crypto prices gradually stabilized after high volatility earlier this year and posted a limited rebound as institutional demand increased.
- A majority of respondents said Bitcoin prices would fall or remain flat, indicating investor sentiment remained conservative, with few expecting a return to the previous peak.
Forecast Trend Report by Period
Cryptocurrency adoption in the US is recovering, but investor sentiment toward prices remains cautious.
Deutsche Bank said in a survey report that US crypto adoption rebounded in March after declining in recent months, CoinDesk reported on April 20.
The report said crypto prices have gradually stabilized after sharp volatility earlier this year. It added that prices posted a modest rebound last month, supported by increased institutional demand and changes in the geopolitical environment.
Investor sentiment, however, remained conservative. A majority of respondents said Bitcoin prices would either fall or remain flat, while only a small share expected the cryptocurrency to return to its previous peak.
The survey covered 3,400 consumers in the US, the UK and the European Union.
Markets are focused on the gap between rising adoption and still-cautious investor sentiment. Future price moves and institutional demand are key variables for any improvement in sentiment.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
