72% of Cryptocurrency Investors Plan to Buy More this Year: Survey
Wednesday, September 12, 2018 IST
A majority of accredited cryptocurrency investors and nearly three-fourths of retail investors plan to increase their cryptocurrency holdings in the next 12 months, a new survey suggests.
That survey, conducted by securities trading platform SharesPost in July and eliciting responses from 2,490 retail investors and 528 accredited investors, found that current cryptocurrency owners remain highly-bullish on the nascent asset class, though they now expect mainstream adoption to take longer than they had when asked earlier in the year.
Respondents in both groups now expect cryptocurrency to achieve widespread adoption in 2025, whereas in January — when bitcoin and most altcoins were trading at or near their all-time highs — they forecast that this would occur in 2020. They fingered lack of education and commercial use cases as one of the most pressing challenges for blockchain adoption.
This muted forecast dealt a moderate blow to short-term outlooks among accredited investors, and respondents in this group are less likely than in January to expect cryptocurrency prices to rise or plan to purchase more coins within the next 12 months. Nevertheless, a majority (59 percent) still plan to increase their holdings over the next year, and 57 percent expect prices to rise by next July.
Retail investors, however, maintain a rosier outlook. More consumers, 72 percent, said that they plan to deepen their cryptocurrency stakes this year, which represented a slight increase from January. Moreover, 66 percent said that they expect prices to rise during that timespan.
“Based on our survey, crypto investors haven’t lost faith and are planning to buy more,” said Rohit Kulkarni, managing director and head of research at SharesPost, in a statement. “Importantly, this survey indicates that this correction is separating long-term believers from short-term day traders. Investors remain bullish on Bitcoin and Ethereum over the next 18 months because they are the leading digital currencies globally. Both enjoy relatively low correlation to other asset classes and can be an ideal way for investors to diversify a portfolio of stocks and bonds.”
Notably, investment portfolios differed between accredited and retail investors, with high rollers being more likely to concentrate their holdings in altcoins. While consumers were most likely to own bitcoin (BTC), followed by ether (ETH) and litecoin (LTC), accredited investor portfolios most often held ETH, followed by BTC and ripple (XRP).
Related Topics
Trending News & Articles
ALMATY: Hour upon hour, day upon day, Omir Bekali and other detainees in far western China's new indoctrination camps had to disavow the...
Recently posted . 217K views . 1 min read
If you have payed attention to the belly buttons of people on the beach or the members of your family, you have probably noticed that they have different shapes and...
Recently posted . 10K views . 2 min read
The Langya henipavirus has a place with a similar group of infections, including Nipah, which is known to kill up to 3/4 of people in extreme cases.
Recently posted . 6K views . 1 min read
Queen's death: The eldest of her four children, Charles, Prince of Wales, who at 73 was the oldest heir apparent in British history, became king immediately...
Recently posted . 5K views . 1 min read
More in Global
1: Warn your Girl Child Never to sit on anyone's laps no matter the situation including uncles.
2: Avoid Getting Dressed ...
Recently posted. 955 views . 1 min read
Australian bushfires destroyed a large area of land and vegetation, but that has revealed extensive water channels built by indigenous Australians thousands of year...
Recently posted. 871 views . 1 min read
ISLAMABAD: Pakistan has urged the US to support its bid to exit from the grey list of the FATF ahead of a key meeting of the international terror...
Recently posted. 794 views . 2 min read
Recently posted . 1K views
Recently posted . 905 views
Recently posted . 2K views
Recently posted . 2K views
Recently posted . 4K views . 67 min read
Recently posted . 4K views . 99 min read
Turkish President Recep Tayyip Erdogan on Tuesday said the West was softening guarantees up Syria, blaming Ankara's accomplices for support "dread gatherin...
Recently posted. 961 views . 18 min read
The husband cooked for his wife sometimes but the woman complained that her life had turned 'hell' because her husband was too kind and there were no disp...
Recently posted. 644 views . 1 min read