Optimism and confidence among cryptocurrency consumers and investors remains high, despite a burst of negative news hitting the market in recent weeks.
SharePost’s MidYear 2018 Crypto Survey shows that 72% of consumers and 52% of investors plan to increase their cryptocurrency holdings over the next 12 months. Furthermore, 66% of consumers and 57% of investors expect cryptocurrency valuations to rise over the next year.
“Despite the 60 percent decline in cryptocurrency valuations this year, consumers and investors continue to offer a bullish, long-term outlook for crypto and Blockchain,” the survey summarized.
Bitcoin is the top digital currency
The survey also revealed that bitcoin is the top cryptocurrency to own among both investors and consumers, with investor interest in bitcoin jumping from 48% to 78%. Following bitcoin, ether, XRP, and litecoin are the most popular cryptocurrency holdings.
More businesses implementing blockchain technology
As well as confidence and optimism among cryptocurrency consumers and investors remaining high, the research highlighted the rising number of businesses implementing blockchain technology. 49% of the consumers and 32% of the investors interviewed for the survey said employers are planning to roll out blockchain in the near future.
Some of the biggest concerns associated with cryptocurrency ownership are volatility and insecurity within the market, as well as a lack of education and commercial use around blockchain adoption, the survey found.
Crypto’s negative ride in the press
Cryptocurrency has had a negative ride of late, with the value of bitcoin rising then abruptly falling, with the latest fall perpetrated by reports that Goldman Sachs’ was planning to drop its plan to build a bitcoin trading platform. The reports sent the value of cryptocurrency plummeting.
Adding further fuel to the volatility and vagueness of the market, Goldman Sachs’ CFO Marty Chavez, described the story as “fake news” saying they were still considering how to offer services that involved bitcoin, but no timeline for the platform has been set yet.
With a growing number of startups and businesses recognizing the merits that potential cryptocurrency adoption can bring and implementing blockchain technology into innovative business operations and ventures, and optimism among cryptocurrency consumers and investors remaining high, it seems the flurry of recent negative press surrounding crypto is failing to have an impact on digital currency believers.
Gabrielle Pickard-Whitehead is a freelance journalist and copywriter based in the Peak District, UK. Since 2006, Gabrielle has followed her passion for writing and has sculptured a rewarding career out of her love for the written word. Gabrielle thrives on creating compelling content related to current affairs, politics, financial news and the latest advancements in technology and innovation. Gabrielle is excited about having the chance to write about the constantly-evolving world of crytocurrency and enabling people to learn more about this rapidly-advancing digital asset.