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Pew Research Center conducted a recent study reporting that 46% of US crypto hodlers believe that their venture into the market has rather performed poorly. However, 15% affirmed their investments have been more fruitful than their earlier speculation.
The study additionally revealed that the percentage of crypto investors in the US hasn’t significantly changed in comparison to participants from September last year. This relative equivalent investors occurs even with bitcoin reaching its all-time high price 0f $70,000 in November and the successive dip in the market months after.
They Anticipated a Better Payoff
In mid-July when the study took place, the following were made known on the expectations of the American cryptocurrency investors:
– almost 50% did not imagine their investment will be where it is at today
– 31% expected this outcome and
– just 15% declared a profitable investment
Of the American populace, 42% of men aged 18 to 29 have distributed funds in the crypto market and only 9% of women have ventured into the market. Minorities, including Asians, Hispanics and Blacks are observed to be more involved in the digital asset scene. Notwithstanding, the number of American cryptocurrency investors has not changed that much.
Just about 16% of the US crypto HODLer’s said their primary reason for doing so was because they were seeking another investment opportunity. 75% conclude that dealing with crypto is a good way to make money, and 54% said it’s easier to invest in bitcoin and altcoins than in other products.
The Crypto Market’s Allure to US Millennials
When mentioning young individuals who allotted part of their wealth in cryptocurrencies, it is worth mentioning the millennials. Amother research conducted by Alto showed that 40% of Americans born between 1981 and 1996 have an investment in digital assets.
However, a good number who are not investors stated their intentions of getting into the market in no distant time. Eric Satz – Founder and CEO of Alto – posited that the global economic situation prevents those willing to invest. He said:
“In a world of conspicuous consumption, soaring living costs, and running mounting student loan debt, millennials find it difficult to invest for the future because they are struggling to afford the present.”
Notwithstanding, a greater number of US millennials have their funds allocated in various digital assets than the ones investing in mutual funds.
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