Underlying Demand for Cryptocurrencies Powerful, 72% of Crypto Investors Plan to Buy More


If you thought that the year long (well, almost year long) selloff in the cryptocurrency sector scared investors off, think again. A recent survey by a trading platform (SharesPost) found that a majority of cryptocurrency investors and over 75% of retail investors actually plan to buy more. Before you glance at this article take into consideration the survey was done in July (ETH and others have cratered since) and the SEC is rambling about strong regulation so there might be a change in sentiment. Also, with huge new institutional participants seeking quality, only the most compliant cryptos will lead the next wave. Leave the “Bob’s Oil & Gas Blockchain” token in the drawer.
(Bill Taylor/Fintek Capital)

“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….”

Full Story at CCN.com