Recently Pew Research Center carried out a survey. It is estimated that nearly 46 percent of American crypto investors think their entrance into the market did worse than it was expected. Only 15 percent admitted their investments turned more highly successful than initially believed. This study further disclosed that the share of cryptocurrency investors in the US remained relatively the same in comparison to the figures from September 2021. The lack of massive changes comes even though Bitcoin reached its all-time price high in November and the consecutive bear market that followed after a few months.
Investors in America expected a lot.
The research that was conducted in mid-July showed that few things. It was that almost half of the US cryptocurrency HODLers did not think their investment would be in any condition it is today. 31 percent said that they expected such an outcome. Only 15 percent stated their allocation turned out to be better than anticipated.
Despite significant events in this industry, like Bitcoin reaching an all-time high of almost $70,000 in November or the current bear market, the percentage of US crypto investors did not drastically change since September.
The approx. Sixteen percent of Americans distributing some of their wealth in this asset class said that their main reason for doing it was as they were looking for an alternative investment option. Seventy-five percent believe dealing with cryptocurrency is an excellent way of making money. Fifty-four percent said investing in Bitcoin and altcoins is more accessible than other products.
The average profile of the US crypto HODLer did not change much. Either 42 percent of men aged 18-29 allocated funds in cryptocurrency. Only 9 percent of women entered the crypto market. Minorities, including Asians, Black, and Hispanics, are highly active on the digital asset scene.
Awareness regarding crypto is on a high level. Approximately 90 percent of the participants heard at least a little regarding the sector. Twenty-six percent said that they have great knowledge of this matter.
The attraction of US millennials to their crypto
Young individuals are investing part of their funds in cryptos. So it is worth noting the millennials. Alto carried out a survey. It disclosed that nearly 40 percent of Americans born between 1981 and 1996 own cryptos.
Yet most who are not HODLers admitted that they are considering the option of entering the ecosystem in the near future. Alto’s founder and CEO, Eric Satz, explained that the present macroeconomic situation would halt some of those who are eager to invest in cryptocurrency. Yet things may change once the economy worldwide begins to recover.
In a world full of rising costs of living, increasing student loan debt, and massive consumption, millennials find it challenging to invest for the future. It is because they struggle to afford the present. So the share of US millennials who have already diversified their portfolios with cryptos is more than anyone investing in mutual funds.
The cryptocurrency bear market
The survey, conducted in July (5-17), came after the mid-June sell-off that compounded the bear market pain and saw the price of Bitcoin fall to lows of $17,600 and Ether below $1,000.
After another bout of sell-off pressure on Friday, Bitcoin and Ether, currently trading around $19,930 and $1,475, respectively, hit their all-time highs above $69,000 and $4,800 in November 2021.
Conclusion
There are many reasons why Americans feel this. BTC fell the most in two months. They dropped in step with traditional markets. This was because of concerns about the Federal Reserve stepping up its efforts. The involvement of other central banks was present. It was to combat inflation returned. There is still little hope and optimism. For example, almost 3.6 million adults in the US are expected to make use of crypto to make any buy in 2022. In fact, as per analysts, the value of cryptos as a form of payment will be increasing by 70 percent in 2022. Also, remember that if you are new to Crypto trading and investments, then you must check the Bitcoin trading platform like Bitcoin Revolution.