Crypto Dip: Americans Are Not Liquidating Their Cryptocurrencies – Why Should You?
Americans aren’t selling their Bitcoins in droves despite the massive downturn in the cryptocurrency market. In mid-June, when the price of the world’s largest cryptocurrency fell below $20,000, 19 percent of American adults said they owned digital assets, according to a new Morning Consult survey.
Despite the fact that Bitcoin traded nearly 70% below these all-time highs, the share of cryptocurrency holders in the US has not changed since the beginning of the year.
However, sentiment for Bitcoin remains largely negative. Believe in Dogecoin it fell to a new record of 52%. Also, non-fungible tokens (NFTs) are no longer highly trusted by US consumers.
The percentage of those who think cryptocurrencies are bad for society has reached its highest level since January (32%). In terms of demographics, millennials and those earning over $100,000 a year still find Bitcoin to be the most attractive cryptocurrency.
The American owners still keep hope for evolution bitcoin price in the future. By the end of the year, they expect the cryptocurrency to reach an average price of $38,000.
However, Americans who do not own any cryptocurrency believe that Bitcoin will continue to trade around $20,000.
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Should You Hold or Buy Bitcoin?
The Americans are absolutely right to maintain their positions. When we remember that in 2018 the cryptocurrency was traded below 4000 dollars and the subsequent growth, we can only hope.
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