BIS Report inspects aftermath of 2022’s crypto crashes, concludes...
titled “Crypto shocks and retail losses.” The report took a closer look at the aftermath of the crypto crashes of 2022, which affected millions of investors and left several firms bankrupt.BIS compiled datasets pertaining to retail holdings of crypto assets. Moreover, it crafted a database of retail use of crypto exchange apps at daily frequency for 95 countries from August 2015 to mid-December 2022.
The bull market of 2021 saw several retail investors venture into the crypto market, lured by the rising prices. BIS’s report found that in 2022, most investors from all economies lost money on their Bitcoin investment due to the crypto market’s downturn. However, Bitcoin investors from emerging economies like Brazil, India, Turkey and Thailand were worst hit by the crypto crashes.
As far as the broader financial industry is concerned, BIS found that the spillover of risk from the crypto market to the traditional finance markets was limited. “The evidence suggests that crypto shocks have a limited impact on equity prices or broader financial conditions.” The report concluded that, at best, there was a weak correlation between crypto losses and broader stress.Subscribe to get it daily in your inbox.
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