Cryptocurrency’s Popularity Among Millennials In US Declining: Study – Bitcoin (BTC/USD), Ethereum (ETH/USD)

Cryptocurrency’s recognition with American traders seems to be waning. A survey signifies that solely 21% of Individuals really feel snug investing in cryptocurrency in 2022, down from 35% in 2021.

The survey reveals that millennials, between the age group of 26 and 41, don’t appear eager about investing within the cryptocurrencies reminiscent of Bitcoin BTC/USD and Ethereum ETH/USD. Furthermore, solely 30% really feel snug in 2022, in comparison with practically 50% in 2021.

The report says a lot of the curiosity in 2021 was generated due to the all-time excessive costs of Bitcoin, Ether, and different property. 

Technology X confirmed consolation ranges with cryptocurrency at 37 p.c in 2021, which fell to round 21 p.c in 2022. Equally, the newborn boomers confirmed consolation ranges at 21 p.c final 12 months and dropped to about 11 p.c in 2022, the report mentioned. 

Additionally Learn: This Crypto Analyst Says October Will Be A Bullish Month For Bitcoin, Here is Why

Kids thought they might “make some huge cash rapidly,” which is why they entered the ecosystem.

Concerning the development, Greg McBride, Bankrate’s chief monetary analyst, says, “It’s a lot simpler to be enthusiastic once you see the worth going up frequently. However the true take a look at of perception comes when the chips are down.” 

“A whole lot of traders have realized they now really feel in another way about investing in cryptocurrency,” he provides. 

On the time of writing, Bitcoin was buying and selling at $19,281, Ethereum was buying and selling at $1,311.