With the cryptocurrency winter taking place, recent data from a Pew Research Centre survey has mentioned that 46% of adult cryptocurrency users in the United States have seen lesser returns on their cryptocurrency investments than what they expected, as reported by Cointelegraph.
On the basis of information by Cointelegraph, the survey garnered more than 6,000 responses from randomly-selected adults across the Unted States, with panelists also taking part in self-administered web surveys. Conducted from July 5 to July 22 of this year, maximum amount of respondents from the survey said they witnessed lower than expected returns, while 15% of the surveyed said their cryptocurrency investments had done better than anticipated. Meanwhile, around 31% said they received the kind of returns which they expected. Considering the majority of cryptocurrency user respondents who said they became interested in cryptocurrency due to their desire of finding new ways of making money, the results didn’t go in that direction. Women constituted for over half of the respondents and people over 50 years old made up for the majority sample size. Overall, only 16% of the respondents said they invested, traded, or used cryptocurrency at some point.
According to Cointelegraph, majority proportion of disappointed cryptocurrency investors was attributed to an increase in cryptocurrency traders of the country in 2021, when the market was at its all time high. Previously, the publication stated that around 70% of cryptocurrency holders in US started investing in cryptocurrencies such as Bitcoin (BTC) in 2021, the year which saw BTC achieve an all-time high value of $67,582. Reasons such as institutional adoption, growth in altcoins, access to cryptocurrency trading and celebrity endorsements were correlated with reasons for the hike in BTC price, with BTC plummeting over 69% from its ATH to $21,403 and Ethereum (ETH) falling 66% from its ATH to $1,640.
(With insights from Cointelegraph)