78% Of Institutional Traders Not Considering Cryptocurrency Trading Over Next 5 Years: JPMorgan Survey
Portfolio Pulse from Benzinga Neuro
A JPMorgan survey reveals 78% of institutional traders are not considering cryptocurrency trading in the next five years, despite a slight increase in current crypto trading and future plans. AI and machine learning are seen as more influential for the future of trading, while interest in blockchain technology declines.
February 09, 2024 | 9:01 am
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NEGATIVE IMPACT
The survey indicates a significant disinterest in cryptocurrency trading among institutional traders, which could impact Bitcoin's market sentiment and trading volume in the short term.
The lack of interest from a large portion of institutional traders could lead to decreased demand and potentially lower trading volumes for Bitcoin, affecting its price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ethereum may face similar short-term market sentiment and trading volume challenges as Bitcoin, given the widespread disinterest in cryptocurrency trading among institutional traders.
Ethereum, like Bitcoin, could see a decrease in demand and trading volume due to the significant number of institutional traders not considering cryptocurrency trading, potentially affecting its price negatively in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80