A recent cryptocurrency study has shown a bullish trend among both retail and accredited crypto investors. According to the survey, the majority of these investors plan to buy more cryptocurrency in the next 12 months.
Details of the Study
The study was conducted in July by SharesPost, a securities trading platform based in San Francisco. It sampled opinions from 2,490 retail investors and 528 accredited investors, majorly from Asia and North America.
Survey Results show Bullish Trend with some Caution
In its report for the Survey, SharesPost compared the responses from its January study when bitcoin and many other cryptocurrencies with responses in July after a bear market that has dragged for over five months.
It found that respondents were still very optimistic about cryptocurrencies but still exercised some caution. For instance, the majority though 2025 was a more realistic time to achieve widespread adoption for crypto whereas, in January, it was 2020.
When asked if they would increase their current crypto investment within the next 12 months, 59 percent of accredited investors and 72 percent of retail investors said they plan to invest more. Similarly, 57 percent of accredited investors and 66 percent of retail investors believe that crypto prices will increase by July 2019.
While the results show a decline in optimism from January, Rohit Kulkarni, managing director and head of research at SharesPost, said it equally showed that investors haven’t lost faith. “Importantly, this survey indicates that this correction is separating long-term believers from short-term day traders” he added.
Ethereum popular among Investors; Bitcoin among Consumers
71 percent of the survey respondents said that Ethereum [ETH] would be the most successful cryptocurrency. This number was significantly down from 87 percent in January. On the other hand, consumers believed that bitcoin would be the most successful with 72 percent in January and 78 percent in July.
“Investors remain bullish on Bitcoin and Ethereum over the next 18 months because they are the leading digital currencies globally. Both enjoy relatively low correlation to other asset classes and can be an ideal way for investors to diversify a portfolio of stocks and bonds,” Kulkarni noted.