According to a recent survey, a majority of retail and accredited investors are optimistic about cryptocurrencies and planning to invest further in cryptocurrencies within the next twelve months.
The survey was conducted in July this year. 2,490 retail investors and 528 individual accredited and institutional investors participated in the survey. The survey revealed that despite the bear market and bad news about digital currencies, investors are planning to increase their digital assets in near future. The survey also revealed that implementation of blockchain technology will continue to grow as more and more companies are planning to implement blockchain technology. 49% consumers and 32% investors said that businesses are planning to roll out blockchain technology in coming years.
Though the valuation of cryptocurrencies has declined almost 60% in 2018 but around 72% of consumers and 59% of investors have confirmed that they are positive about cryptos and planning to invest more in digital assets in the next twelve months. According to the survey retail and accredited investors still, have faith in cryptocurrencies. 66% of consumer and 57% of investors believe that the valuation of cryptocurrencies will grow in the coming year. According to a survey conducted by Deloitte in seven countries including United States, United Kingdom, Germany, China, Canada, and Mexico 84% of businesses think that mainstream adoption of blockchain technology is a matter of time. Most of the businesses around the world are using blockchain technology in supply chain solutions.
In the survey, respondents were also asked to choose their favourite cryptocurrency and unsurprisingly, Bitcoin came out on the top. Bitcoin was owned by most of the respondents while Ripple, Ethereum, and Litecoin were behind bitcoin. According to the survey, most of the respondents believe that all these four cryptocurrencies have the potential for long-term success.
Both retail and accredited investors are bullish about blockchain technology disrupting payments, money transfer, and asset management sector. More than 58% of investors and 55% of consumer believe that blockchain technology will first strike money transfer.
For most of the respondents’ security and price, volatility is a major concern. Lack of education about blockchain technology and cryptocurrencies are the main obstacles to a higher rate of adoption of cryptocurrencies.
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