All young guys wear the bags
All young guys wear the bags
If you are in the USA and are interested in crypto, the chances are good that you:
- male
- young
- care loss
You are probably too:
- Asian
- rich
- (crazy?)
These hypotheses come from a JPMorgan report about Bitcoin that came out of the beginning of this week and has a boring title ("The Dynamics and Demographics of Us Household Crypto Asset"), but some funny facts.
using data that cover almost five million active US current account documents, of which about 15 percent made transfers on cryptocontes, the authors Chris Wheat and George Eckerd found:
1) Most crypto users made their first transactions during price peaks at crypto-assets.
2) The use of crypto is wider and deeper for men, Asians and younger people with higher income.
3) The crypto stocks are relatively low for most people-since the middle currents correspond less than the net wage of one week-but almost 15 percent of users have net transfers worth more than one monthly wage on cryptocontes.
4) Most people who transferred money to crypto accounts did so than the crypto-asset prices were significantly above the latest levels, and those with lower income probably bought at higher prices compared to better earners.
The first point is quite impressively illustrated: Bitcoin looks like one of the biggest top ticks in history in terms of noobs:
In a statement by the completely obvious, JPM says:
The intensity of transfer activity at certain times, which correlates with price movements, indicates a herd -like behavior that makes up a considerable proportion of the overall transactions of individuals with cryptocontes.
The Greenhorns seem to have been quite bad to estimate when they should buy, but the sellers don't seem to have cut off much better. JPM notes that the net direction of the transfers in the past year seems to be somewhat balanced after the largest sales peaks have apparently failed.
It is interesting that the sellers, after having waited for too long in early 2021, (as a general collective) then went too early at the end of the year.
And who were these crypto owners, maybe ask themselves. It may not be surprising that it was men - young men:
a little more revealing is the racial creeping that created JPM, which found that Asians have been completed with the crypt much more likely than white, Hispano -American or black account holder:
The most interesting knowledge comes later when the bank examines the relative profitability of various groups when trading with crypto. By JPM:
Since the prices for crypto-assets have had considerable volatility in the past five years, there is a potential for a wide range of average transaction prices and thus searches ...
If you look at the distribution of average purchase prices - measured at an individual level - across our sample, we see clearly different median implicit purchase prices for crypto depending on the income group.
This is what the whole thing looks like (for chart haters, basically Bitcoin investors did poorly):
, however, the analysis of JPM is even more interesting, which population group bought most successful (and probably earned more money). Write your answer to a sheet of paper and then scroll ...
. . . Yes, they are rich old people.
Let yourself be ruined, millennials.
Source: Financial Times
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