SharesPost Survey Reveals Investors Are Still Bullish on Cryptos
A new crypto survey conducted by SharesPost revealed that despite a slumping crypto market, investors and consumers are still optimistic about the long-term outlook of cryptocurrencies and blockchain.
A research report published by investment platform SharesPost has revealed that even though the Bitcoin and Ethereum prices have dropped since the last time it conducted its research, cryptocurrency owners have not lost faith.
Crypto investors still bullish, new investors cautiously optimistic
According to the company’s mid-year cryptocurrency and blockchain survey, the majority of investors and consumers continue to find cryptocurrencies appealing.
The research revealed that 59 percent of investors and consumers are looking to buy more cryptos over the next year.
This figure has dropped over the past few months. In the survey, SharesPost received responses from 2,490 consumers and 528 accredited investors.
Amongst the consumers, 72 percent of them confirm they are planning to buy more coins in the next 12 months. 57 percent of the investors are bullish about the prices of cryptocurrencies rising by next year while 66 percent of investors feel this way.
Amongst the cryptocurrencies, Bitcoin was the biggest winner as more investors and consumers believe in its prospect.
80 percent of the consumers believe Bitcoin would be successful long-term while 64 percent of the investors believe in Bitcoin’s long-term potential.
For Ethereum and Ripple, investors are more bullish about their success than the consumers. 63 percent of Ethereum investors are bullish about its price compared to just 45 percent of its consumers.
For Ripple, those figures stand at 35 percent for investors and 13 percent for consumers. Litecoin and Bitcoin Cash have significantly lower figures compared to the leading three cryptocurrencies.
In terms of ownership, Bitcoin still leads the way. 82 percent of the consumers have Bitcoin while 81 percent of the investors own the leading cryptocurrency. For Ethereum, those figures stand at 74 percent for investors and 39 percent for consumers.
Litecoin, Ripple, and Bitcoin Cash follow a similar trend, with investors holding the cryptocurrencies more than the consumers.
Companies still bullish on Blockchain
The underlying technology behind cryptocurrencies has continued to gain traction all over the globe. In the survey, 32 percent of investors and 49 percent of consumers say employers are planning to roll out Blockchain in the near future.
This means that there has been an increase in the number of employers looking at Blockchain technology by 12 percent over the past few months. This shows a growing need for the technology.
When asked about the timeline for cryptocurrencies and Blockchain to go mainstream, the respondents have varying answers.
The percentage of investors who think crypto will go mainstream in 2020 dropped to 27 percent from 51 percent over the past few months. 37 percent of the consumers believe it will go mainstream by 2020, down from 42 percent since January.
However, most of the respondents now feel 2025 represents a more realistic timeline for digital currencies.
Volatility still remains a key problem for cryptocurrency and Blockchain adoption and more than 50 percent of the respondents agree with that. 37 percent of them meanwhile believe that safety and security are their top concerns.
Regarding the biggest challenge they face, most of the investors and consumers believe the lack of effective use cases poses a great challenge to them.