Deutsche Bank Says US Crypto Adoption Rebounded in March as Investor Sentiment Stayed Cautious
Summary
- Deutsche Bank said the US crypto adoption rate rebounded in March after falling for several months.
- The report said crypto prices have gradually stabilized after high volatility earlier this year and posted a modest rebound last month on stronger institutional demand and shifts in the geopolitical backdrop.
- Most survey respondents said Bitcoin prices would either fall or remain flat, showing investor sentiment remains conservative. Markets are focused on the gap between broader adoption and investor sentiment, while future price moves and institutional demand are the key variables for improving sentiment.
Forecast Trend Report by Period
Cryptocurrency adoption in the US is recovering, but investor sentiment on prices remains cautious.
CoinDesk reported on April 20 that Deutsche Bank said in a survey report that US crypto adoption rebounded in March after declining in recent months.
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 stronger institutional demand and shifts in the geopolitical backdrop.
Even so, investor sentiment remained conservative. Most respondents said Bitcoin prices would either fall or remain flat, while only a small share expected the token 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 broader adoption and investor sentiment. Future price moves and institutional demand remain the key variables for any improvement in sentiment.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
