Global Trust in Crypto Remains Unshakable Despite Latest Market Downturn, According to New Survey
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A new study suggests that investors around the world are holding on to their faith in cryptocurrencies despite this year’s sharp market downturn.
According to Bitstamp’s latest Crypto Pulse survey, which surveyed more than 28,000 retail and institutional investors from 23 countries, the majority of the American people maintained a strong view of crypto assets.
“Canada was the only country where confidence in cryptocurrencies fell slightly below 50% in the second quarter compared to the first quarter among retail respondents. In all other countries in the Americas, trust in cryptocurrencies remained high at 68 percent or higher, with countries such as Brazil at 77 percent, Chile at 69 percent, and Mexico at 70 percent.
The largest single increase in confidence was in the US, from 61% in the first quarter to 73% in the second quarter, with a further increase in the number of retail respondents who said they were currently investing in cryptocurrencies, from 42% to 61% quarter-on-quarter.
Investors in Europe and the Asia-Pacific region also showed confidence in the rising asset class. According to the survey, European retail investors who consider crypto to be trustworthy fell slightly from 54 percent to 52 percent, while 66 percent of Asia Pacific institutional investors said they would recommend the digital asset to their clients.
According to the report, global markets appear to be mostly disillusioned with this year’s prolonged crypto bear market, which at one point saw the industry’s total market capitalization fall below $900 billion.
“Despite the market’s downward trend, the results show that global confidence in crypto remains unshaken. The percentage of retail investors around the world who consider crypto to be trustworthy has dropped slightly from 67% in the first quarter to 65% in the second quarter. There was a similar decline among institutional investors, with 67% still seeing crypto as trustworthy, compared to 70% in the first quarter.
Considering that in the first quarter we were entering a crypto winter, these numbers are inspiring and speak for the resilience of the industry… Although confidence in crypto has weakened in some areas, investors are using this time to either increase their investments or expand their knowledge of crypto.”
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