Visual Capitalist, a digital media company, has put together a report highlighting how investors interact with digital currencies and what might be their future aspirations for the space.
Qualitative and Quantitative data, features of news reporting that informs about how people feel about, and use of digital currency in the financial sector, is increasingly being referred to in the industry as a way of measuring which direction the sector is moving in the light of digital currencies’ fluctuating fortunes.
The Visual Capitalist analysis focusses on the thinking behind the statistics rather than simple numbers of participants adopting, selling or hoarding cryptocurrency.
According to the firm, it’s reported that 41% of those investing in Bitcoin specifically, do so as they perceive it as a world-changing technology. Consequently, these respondents see cryptocurrencies having a major role in the future and about 22% of them are holding bitcoins long term. Over 15% have had friends or family members suggesting or recommending it to them, whereas only a few (8%) simply see it as a utilitarian tool for purchases rather than cash, or credit cards. Another 14% see prices going high, offering investors a healthy return on investments, compared to banks.
In this particular report, it is suggested that over 60% of investors started investing in 2017. 56% of holders are planning further investments within a year.
Another report from March 2018, published by Huobi, claims that almost 80% of investors see a 30% increase in portfolios over the next three years, perhaps a refreshing thought for investors monitoring the market downtrend this year to July.
A Lenedu poll from November 2017 agreed that Bitcoin is for investing long-term, suggesting that investors are for holding rather than short-term commitment. A one to two-year hold seemed the most popular option at 40% with significantly smaller numbers holding for over 10 years or selling in the next 12 months.
As has been seen recently, readers, investors or would-be-investors are affected by media reports and consequently, this results in a fall in markets. Individual coins are affected in the same way. Today’s Bitcoin price, at the time of writing, is $6446 (CoinMarketcap) which demonstrates a bullish shift from recent falling prices of the past week.
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