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August 24, 2022

Nearly Half of Crypto Investors in the U.S. Are Not Happy

In the midst of the continuing crypto winter, a Pew Research Center study found that 46% of adult crypto investors in the United States are witnessing lower-than-expected profits on their crypto investments.

Over 6,000 randomly chosen persons from throughout the United States participated in the poll, with panelists completing self-administered online questionnaires.

In a study conducted from July 5 to 22, this year, the majority of respondents who indicated they had invested in cryptocurrency reported lower-than-anticipated results, while just 15% stated their crypto investments performed better than predicted. Meanwhile, around 31% said it was roughly as anticipated.

It’s sad, considering that the great majority of bitcoin users stated they started interested in cryptocurrencies because they were seeking for a new method to invest and felt it was an excellent way to generate money.

Women constituted more than half of the responses, with persons over the age of 50 being the biggest sample size. Only 16% of all respondents claimed they have invested in, traded in, or utilized a cryptocurrency at some time in their life.

A large number of dissatisfied crypto investors might be ascribed to the country’s substantial increase in crypto adopters in 2021 when the market was at an all-time high.

Cointelegraph recently revealed that over 70% of crypto hodlers in the United States began investing in cryptocurrencies such as Bitcoin (BTC) in 2021, the year in which BTC reached an all-time high (ATH) of approximately $67,582 on November 8, 2021.

Massive institutional acceptance, rise in altcoins, greater access to bitcoin trading, and celebrity endorsements have all been mentioned as potential explanations for the massive increase.

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However, most investors who bought into the crypto market during the 2021 bubble are likely to be in misery today, with Bitcoin plunging 69% from its all-time high to $21,403 and Ether (ETH) falling 66% from its all-time high to $1,640.