Even though the latest digital asset selloff has resulted in a substantial amount of the overall market capitalization plummeting, the crypto investors are still maintaining their strong faith in the market.
Following a recent study led by Voyager Digital, which is a digital-asset broker, close to 90% of people are planning to invest in more cryptocurrencies across the upcoming quarter. The study was conducted after last month’s fall in BTC prices, where some 3,671 people participated in the study.
Last month’s crash came after a wind of global news regarding the increased crackdown by the Chinese officials on digital assets trading and uses. The bad news did not end there, but it carried on with the United States regulators tightening their grip on digital currencies as the tax season closes in. Soon after many prominent companies dropped digital currencies as a payment option, the market volatility also introduced itself. Within just two weeks of the news of the company dropping crypto, the market valuation dropped by 43%.
Regardless, 7 of the ten investors who participated in the survey maintained bullish sentiment when they were invited to give an opinion on the Bitcoin price for the upcoming quarter. The investors placed the Bitcoin price at the dawn of the 3rd quarter in a range of $50k to $70k. Meanwhile, the price of Bitcoin has crossed the $41k mark and has represented a strong support level near the $38k mark.
The investor’s attitude represents a positive sign, according to the CEO of the digital asset broker, even though the selloff dented a lot of market value from the crypto world.
The interest in alternative tokens to Bitcoin
The study also revealed the investor’s sentiment regarding altcoins and figured out that ADA has a very bullish interest followed by DOGE.
The revelation comes after the ADA’s rise to fame the last year. Just last month, the company released its plans to widen the accessibility of blockchain technology in Africa, which consisted of a collaboration with the government of Ethiopia. Not only that, the use of the Proof of Stake concept allows Cardano an edge compared to others, like a more environmentally friendly token.
Millennial digital asset investors
The latest survey led by the news outlet CNBC concluded that half of the young millionaires have close to one-fourth of their wealth holding in digital assets.
Millennial investors had remained persistent in their bullish sentiment when it came to altcoins, BTC and NFTs. As time passes on only, it can tell whether the bullish stance of Investors ever materializes.