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JP Morgan Survey: 78% of Institutional Traders Don't Plan to Trade Cryptocurrencies in the Next Five Years

JP Morgan Survey: 78% of Institutional Traders Don't Plan to Trade Cryptocurrencies in the Next Five Years

2024/02/08 20:31

A survey by banking giant JPMorgan Chase has revealed that 78 per cent of institutional traders do not intend to trade cryptocurrencies in the next five years, and only seven per cent of survey participants believe blockchain is an influential technology, down from 25 per cent in 2022. The bank interviewed more than 4,000 institutional traders for its annual survey on electronic trading in 2024, which covers upcoming trends and hot topics in trading for traders around the world. Participants appear to be less enthusiastic about blockchain technology in 2024 compared to the previous two years, with 61 per cent expecting artificial intelligence and machine learning to shape the future of trading over the next three years. In terms of macro events expected to impact the broader market this year, traders cite inflation, the U.S. election and recession risk as the top three catalysts that will impact the broader market this year.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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