The prices of bitcoin (BTC) and all other cryptocurrencies in the past year are no fun to watch. It is difficult for many investors to hold on to the long-term conviction when the price of bitcoin is about 75% lower than a year earlier. The laundry list of bankruptcies of large companies in the crypto sector also does not help to maintain optimism in the investment class. CNBC has conducted research into the current status of cryptocurrencies and the results are certainly in line with expectations.
Crypto popularity hard to find
In the investigation a total of 800 Americans were surveyed between November 26 and November 30. The results were also compared to a previous survey conducted from an NBC news poll in March.
The survey found that 43% of Americans have a negative view of digital assets, up from 25% in March. Among crypto investors, a similar percentage of 42% had a negative view of cryptocurrencies. The big difference is that of the people who have invested in crypto, 17% are very negative about crypto, while this percentage is much higher among non-investors at 47%.
The percentage who view cryptocurrencies positively has also dropped from 19% in March to just 8% in the most recent survey.
Institutional crypto investors
Earlier you could read in the Bitcoin news that a total of 62% of institutional crypto investors have increased their investment in the past twelve months. Institutional investors are therefore maintaining their long-term view of the new asset class, despite the sharp declines and the prevailing fear in the market.
You could also read that the institutional crypto investment products saw their largest inflow in 14 weeks. Institutional crypto investors benefit from the collapse of FTX and see the price drops as opportunities. However, the institutional parties are still not major buyers on the market, but perhaps clearer legislation can open the door further.
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