41% of Americans Say They Won't Ever Invest In Cryptocurrencies

in #bitcoin6 years ago

Recently a poll was taken with about 2000 people from the US. The results have shown that roughly only 8% of Americans invest in cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. The results for traditional stocks was roughly 52% of those polled claiming to have investments. From these people that were polled, 41% stated that they have no desire to purchase crypto currencies in the near future. It should be noted that the price of Bitcoin was around $6300 which is a pretty significant drop from the highs of around $20,000. I'm sure this big drop in price has played a big part in this sentiment.

It looks like the crypto space is going through a time of uncertainty. The total market cap has dropped to its lowest levels since November of 2017. At the time of this post the total market cap has risen slightly to roughly $230 billion. This is a long way from its highs of the $800 plus billion range. There are many people on both sides of the coin for Bitcoin. Some believe that support has been broken and it could drop to under $6000, and there are others saying that BTC hit its low back in June when it dropped to $5700. I think it could go either way at this point. It may be wise to wait and see if a breakout or breakdown occurs.

The polls also show that it looks like investors who make less money are more willing to invest in crypto. It is also shown that younger investors are more willing to invest in digital currencies. This makes sense. Younger investors are more comfortable with technology and they have more time on their side to outlast the bear markets. It is going to take the confidence of these investors if we want to see cryptos go back to previous highs and see it go mainstream.

I have a feeling that once crypto goes back into a bull market and hits new highs, these investors will jump on crypto. They will switch sides and buy when it is too late. That is why if you believe in the technology and invest in solid projects, you want to invest now when the prices are low. The "smart" money accumulates at times like this, has patience, and sells when the "dumb" money enters. If you believed in the technology a few months ago, nothing has changed fundamentally. It is the cycles of the market that has changed. I do not see blockchain technology failing, however, that does not mean that plenty of alts that are around today will be around tomorrow. Be sure to do your due diligence, invest in smart projects with potential, have patience, and sell some of your position when you start to profit. Good luck everyone. Things look bad now, but give it some time and I think the feelings will change. See you next time and thanks for reading.

https://www.yahoo.com/news/41-americans-won-apos-t-165618488.html

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I bet that 41% is all the baby boomers. Uneducated old fucks. Lol. We are in the early 1994 internet stages of bitcoin. How people can just look past this tech is beyond me. It's obviously the direction its going. give it 5-6 more years, this is a long time HODl and I've been hodling since 2012.

Sweet. You have me beat. I've been HODLing since 2014. We are still in the very early innings. In 5 years, blockchain will be mainstream and today's investors and believers, will be highly rewarded. Good luck!

This post has received a 33.61 % upvote from @boomerang.

All is crashing...

Great post!
Thanks for tasting the eden!

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well with the coming time they all will join in for sure its all about the time

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