The Bank of America has lost 50% of its active crypto users from the peak of the bull market as the bear market continues to hit the crypto market hard, with bitcoin suffering its worst quarter in over a decade.
- Bloomberg has reported that the Banks active crypto user count has fallen below 500,000 compared to its peak in November of 2021 with a user count of 1 million. This comes as crypto prices have fallen dramatically since the beginning of 2022 and continue to struggle compared to the highs of 2021.
- Bitcoin has suffered its worst quarter in over a decade as the price has fallen below $20,000 USD compared to its all-time high of $70,000 at the end of 2022. The coin lost 58% of its value in the second quarter of 2022 alone highlighting the struggles of the crypto market at the moment.
Source: Bloomberg
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