2018 marked the longest crypto winter right after the price highs of 2017, however, a recent study suggests that despite the continuous bearish trends, consumers and investors are quite optimistic about the future of cryptocurrency and holding their digital assets in hope of the next bull run.
Sharepost conducted a survey involving 1018 consumers and 96 institutional investors. The result of the study was made public on the 5th of March, and the outcome seems to represent a bullish trend among the consumers and investors alike. Out of the total number of investors surveyed in the research, 30% revealed that they are holding at least $25,000 in BTC, while 20% holds Ethereum of the same value.
While the consumer group of surveyed people suggests they are holding a number of cryptocurrencies with BTC, ETH, and XRP being the top choices. The study also revealed lower confidence among consumers towards ETH, probably because of the delayed Constantinople fork of the network, which commenced a few days back after being delayed from its original January date.
The Longest Crypto Winter is Nearing its End
2017 price rise made many crypto enthusiasts go over-board with their price predictions, which saw many predict the prices to double or even triple in 2018. However, as trade markets are mostly known for its unpredictability, 2018 market one of the longest crypto winter, cutting the prices of the majority of the tokens by 80%.
However, the crypto winter is in its last leg(as many believe), and this has made many in the crypto space optimistic about the next bull run, hoping to cash on it and see the prices of their holding sky-rocket.
Many believe that the next bull-run would take charge either towards the last quarter of 2019 and take the prices of their holdings to similar highs of December end 2017. Many analysts are back at their price predictions, some even claiming that the next bull run would take the prices of Bitcoin so high that it might become unaffordable for consumers by 2020.
Well, whether that would come true or not, only time would tell, but its quite clear that people are betting big on the next bull run.
People Believe Decentralized Payment would Disrupt Current Financial Sector
Among the total number of people surveyed, 39% of the investors and 46% of consumers are of the belief that one-day decentralized mode of payment would disrupt the current financial sector. The investors surveyed believe their employees are more likely to use blockchain technology-based solution in the near future. while the consumers were uncertain over the trajectory of blockchain technology.
Although crypto payments are limited to a very small domain, the survey suggests that both consumers and investors believe that in future crypto payments would be a norm.
The recent survey paints quite a rosy picture for the crypto space a majority of the people involved in the survey are bullish about their crypto holdings and also believe that the decentralized payment system could become a norm in near future.
With the longest winter on its verge of the end, the sentiment in the crypto space is quite bullish hoping for another meticulous price rise in the next bull run, similar to the last quarter of 2017.