Crypto Trading and Bitcoin Prices: Evidence from a new Database of Retail Adoption

Prices for cryptocurrencies have undergone multiple boom-bust cycles, together with ongoing entry by retail investors. Results from a PVAR model corroborate these findings. To investigate the drivers of crypto adoption, we assemble a novel database (made available with this paper) on retail use of crypto exchange apps at daily frequency for 95 countries over 2015-22. We show that a rising […]