Investors plan to increase their crypto assets in 2018, survey shows
While this year has witnessed a downturn in the fortunes of cryptocurrencies, sentiments still remain bullish regarding the long-term prospects of crptocurrencies and blockchain. A majority of accredited and retail investors plan to increase their crypto asset holdings over the next 12 months, according to a survey published investment platform SharesPost.
The mid-year survey, which was conducted in July, polled 2,490 retail investors and 528 individual accredited and institutional investors.
The recent survey highlights the fact that both consumers and investors remain optimistic and upbeat about cryptocurrencies in spite of the 60 percent decline in cryptocurrency valuations in 2018.
At least 59 percent of investors and 72 percent of consumers confirm they are planning to buy more coins in the next 12 months. Moreover, 57 percent of investors and 66 percent of consumers expect crypto valuations to grow next year.
Bitcoin remains the most popular cryptocurrency
Respondents were also asked to rank cryptocurrencies by preference. And the results didn’t surprise many, with Bitcoin taking the top spot as the most preferred coin, followed by Ethereum, Ripple and Litecoin. The respondents also found these four crypto coins to have the best future prospects.
Another result of the survey that wouldn’t come as a surprise to most of us is the growing popularity of blockchain. 32 percent of investors and 49 percent of consumers say that their employers are interested in implementing and investing in blockchain in the near future.
The survey also brought to light the fact that success of blockchain depends mainly on the efforts to integrate the technology to the mainstream and creating more awareness about the technology.
A majority of participants felt that the volatility in the cryptocurrency market was the main impediment in its growth. 50 percent of respondents felt that crypto market volatility was their main concern, while 37 percent said their main concern was security and uncertainty surrounding the market.
Image via Shutterstock
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