Note: “This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro
- eToro Survey says US millennials have trust in crypto assets
- 43% of Millennial online traders say they have less faith in the stock market than crypto assets
- Bitcoin recedes back after claiming the USD 4000 mark
eToro survey shows US millennials growing interested in cryptos
Well, another survey and that has gone in favor of the cryptos again. eToro conducted a survey among Millennial online traders who chose cryptos asset investment almost at par with the traditional investing options. According to the results, Almost half of Millennial online traders have shown more trust and faith in crypto exchanges than the U.S. stock market, The nationwide survey which had 1,000 online traders found that
- 43 percent of Millennial online traders trust crypto exchanges more than the U.S. stock exchanges.
- 71% of Millennials would invest in crypto if it was offered by traditional financial institutions
- Half of the online investors expressed interest in a crypto allocation in their 401k plans
The result among investors and crypto traders classes also yielded the same story as Among investors across all age groups that don’t trade crypto, 59 percent of respondents said they would invest more money in crypto if it were offered by a traditional financial institution. Meanwhile, current crypto traders would be more at ease investing in the asset class if it were offered by a traditional financial institution — 92 percent would invest more money if a conventional financial institution provided this investing option.
Bitcoin reclaims USD 4000 mark only to slip down back
The rally in cryptos over the last few days has been amazing. However, even within this longest crypto bear market of all time, there have been rallies before that ended up fizzling out. So, even though it’s possible these markets go to the moon from here, it certainly pays to be cautious. However, there is some interesting news flow that is put forward by the mainstream media that has helped the Bitcoin to rally. According to a recent report by The Independent, rumor mills are running high with the news that Samsung Galaxy S 10 will soon be integrating crypto wallets in them, while Bloomberg continued the to believe JPM Coin news has taken the Bitcoin price to USD 4000.
Forbes, on the other hand, feels its altcoins rallies in XRP and EOS that are driving the Bitcoin up. Whatever the reason be posted by media, but the major trigger to this rally has been due to a shortage in Ethereum creation. This supply shortage while demand remained consistent caused Ethereum’s price to rise dramatically and the rest of the cryptos followed. By today, it’s going on sheer momentum. After months of depressed prices, it’s about time there will be a real rally in this market.