Comprehensive up-to-date news coverage

HomeNewsBusinessNearly half of US adults believe their cryptocurrency bets were worse than...

Nearly half of US adults believe their cryptocurrency bets were worse than expected

Published on

Follow us on Google News for latest updates and information.

News Tech: In the midst of the continuing crypto winter, a Pew Research Center study found that 46% of adult crypto users in the United States are witnessing lower-than-expected profits on their crypto investments.

In a study conducted from July 5 to 22, this year, the majority of respondents who indicated they had invested in cryptocurrency reported lower-than-anticipated results, while only 15% stated their crypto investments performed better than predicted. Meanwhile, around 31% said it was “about what they expected.”

Over 6,000 randomly selected persons from across the United States participated in the poll, with panellists completing self-administered online questionnaires.

It’s sad, given that the clear majority of bitcoin users stated they were interested in cryptocurrencies because they wanted a “new method to invest” and felt it was a “good way to gain money.”

Cointelegraph recently revealed that over 70% of crypto hodlers in the United States began investing in cryptocurrencies such as Bitcoin (BTC) in 2021, the year in which BTC reached an all-time high (ATH) of approximately $67,582 on November 8, 2021.

Massive institutional adoption, growth in altcoins, easier access to cryptocurrency trading, and celebrity endorsements have all been mentioned as possible explanations for the massive increase. However, most investors who bought into the crypto market during the 2021 bubble are likely to be in misery today, with Bitcoin plunging 69% from its all-time high to $21,403 and Ether (ETH) falling 66% from its all-time high to $1,640.

Boomers and Gen X According to a separate poll conducted by financial services provider deVere Group, nearly half of their over 700 Baby Boomer (born between 1946 and 1964) and Generation X (born between 1965 and 1985) clients from around the world already own cryptocurrency or plan to purchase it before the end of 2022.

See also  Linked shares lift UK FTSE 100 after lackluster start

Nigel Green, CEO and founder of DeVere Group, feels that most people born between 1965 and 1980 invest as “part of a broader retirement planning approach.” He did, however, warn against investing in cryptocurrency without first obtaining expert counsel, saying, “As this year has demonstrated again, the crypto sector is recognised for its volatility.”

“Since a result, retirees or those nearing retirement should keep this in mind and avoid overcommitting, as this might jeopardise the whole retirement strategy.”

Latest articles

In the middle of the chase, Anthony Rizzo reveals the truth about Aaron Judge

News Tech: On Saturday, Anthony Rizzo hit a crucial two-run home run to...

Download PAN Card on Phone

In this article, we'll show you how download the PAN card to the phone....

Englewood entrepreneurs are off to a strong start in the Shark Tank-like business idea competition

News Tech: The Quality of Life Business Competition is providing much-needed support for...

Turn On Automatic Sign-in After Update in Windows 11

In this article we will talk about how to do it Turn on/off automatic...

More like this

In the middle of the chase, Anthony Rizzo reveals the truth about Aaron Judge

News Tech: On Saturday, Anthony Rizzo hit a crucial two-run home run to...

Download PAN Card on Phone

In this article, we'll show you how download the PAN card to the phone....

Englewood entrepreneurs are off to a strong start in the Shark Tank-like business idea competition

News Tech: The Quality of Life Business Competition is providing much-needed support for...

Turn On Automatic Sign-in After Update in Windows 11

In this article we will talk about how to do it Turn on/off automatic...

Ishaq Dar, chief of PML-N, will become Pakistan’s finance minister after his arrival in the country

In Science and Space: Prime Minister Shahbaz Sharif and PML-N President Nawaz Sharif...

Investors invest heavily in insurance against future market downturns

News Tech: In order to safeguard themselves against a sell-off that has already...