European cryptocurrency investors are bullish about the market’s prospects. According to a new report, 60% of European investors raised their digital currency investments by 50%. The market was analysed in Europe, Asia, and Latin America by Kantar, the research agency that conducted the poll.
According to BitMex’s poll, investors from all over the world are continuing to enter the cryptocurrency industry. There is a distinct interest in both investments and savings. This demonstrates that virtual currencies are increasingly being considered as a form of alternative investment and savings.
The outcomes are outstanding. In Europe, 55% of those polled said they own cryptocurrency. Furthermore, 61% of them saw digital currencies as a tool to diversify their long-term investments. The 50% growth in crypto investments in the last year reflects this growing interest in virtual currencies as a tool to uncover new investment opportunities.
The poll, according to Michele Bertacco, BitMEX’s chief marketing officer, is a tool to better understand bitcoin investors’ behaviour. Let’s not forget that in 2021, the cryptocurrency market had extraordinary growth. At the end of 2021, Bitcoin (BTC), the largest and most well-known virtual currency, reached an all-time high of almost $69,000 on several exchanges.
There have also been other digital currencies that have provided excellent investing opportunities. This is not to say, however, that investing in virtual currencies is without danger. In truth, there have been numerous large-scale cryptocurrency scams in recent years that have harmed users and investors.
The dissolution of the Terra ecosystem, with the UST stablecoin losing its peg to the US dollar and LUNA plummeting below $0.001 per coin, was one of the most recent events that harmed investors. As a result, it is critical for investors to understand how the market operates in order to avoid dangerous businesses and con artists.
Furthermore, several investors in underdeveloped nations are already using stablecoins in addition to Bitcoin as a payment method. Stablecoins are digital currencies whose value is tied to fiat currencies like the US dollar. As a result, citizens in nations with high inflation rates or capital controls will find USDT (Tether) to be one of the most viable options.
This suggests that the poll could be quite accurate in determining individual behaviour across countries. It should also assist crypto enterprises in developing better solutions and services for people all over the world. Let’s not forget that BitMex is one of the most popular crypto trading platforms on the market, with users from all over the world.
