Key Insights
- A recent survey reveals investors still have their hopes intact in the crypto market.
- Investors expect cryptocurrency prices to rise after 2023.
- 53% expected a rise in Bitcoin prices in 2023
A recent survey by Bitwise Asset Management in collaboration with Vettafi, a popular exchange-traded fund platform, revealed bullish trends amongst investors regarding the crypto market. Despite the market’s bearish nature, the survey responses indicate a ray of hope amongst the investors, who are still keen on investing for the long term.
What Does the Survey Reveal?
The survey took place between 25 November 2022, and 6 January 2023, with 491 participants. These included financial advisors, broker-dealer representatives, independent investment advisors, etc., across the United States of America. On completing the survey, the results show that 15% of investors positively engaged in crypto investments. The results also revealed around 90% of investors had several questions about investing in crypto marketing, indicating their interests.
Bitcoin or Ethereum? Which One Do Investors Prefer?
Though the survey indicates a growing interest amongst crypto investors, it also reveals their bearish attitude for the current year. Nearly 63% of investors expect Bitcoin prices to fall in 2023. However, around 60% of these respondents also believe Bitcoin prices to shoot up in the coming 5 years. Hence, most investors showed greater interest in investing in Bitcoin for the long term.
While 45% of the investors were keener on investing in Bitcoin, almost double that of the ones interested in investing in Ethereum, their hopes regarding the future crypto market remain at par. For instance, while 53% expected a rise in Bitcoin prices, 47% vouched for the same for Ethereum.
Popular Queries of Investors
While the survey revealed current and future investment trends in the crypto market, it also offered some enriching insights. It found that the most popular question asked by most participants was about whether they should consider investing in crypto. The nature of queries also revealed the interests of the participants showing positive responses regarding crypto investments. However, such a response also highlights the lack of awareness about the potential of cryptocurrencies.
Unexplored in most countries, investors are yet to tap into the benefits of crypto investments and realize their contribution to business development. However, it seems they are already on the path to achieving it, as revealed by the survey. In this case, the bearish nature of the crypto market did not affect long-term investments. Instead, active or potential investors seem interested in investing in cryptocurrencies for better returns.
