UK Investors Profit From Cryptocurrency
IW Capital administered the poll; A UK based SME investment company. The poll by them uncovered findings that 38% of Britains still don't understand virtual currencies in the least. It also revealed that a 3rd of the participants believe that the crypto 'bubble' is prepared to pop. Tons of those people might belong to the age where they witnessed the dot-com bubble pop.
The participants also believe that cryptocurrencies are a low sort of investment compared to the others. The study found that only 5% of the investors were ready to make a profit. These facts, regardless of how shocking they appear, represent realistic figures. Bitcoin had skyrocketed at the top of 2020. The people that brought these currencies have lost money. The people that held these currencies for extended ended up making profits. This is often due to wise investment strategies once they sell off most of their purchases and therefore, at the right time.
According to the poll, over 2.5 million British citizens have invested in cryptocurrencies thus far without knowing the technology's complete extent. One notable feature of the Wells Fargo poll was that younger investors who had not built up an outsized investment portfolio were much more likely to have intimate Bitcoin. This percentage drops right down to 17 percent for investors that are 65 and over.
Overall, a huge Bull Run in late 2020 led tons of individuals to leap onto the Bitcoin bandwagon lest they omitted. Once the huge hype died down and other people realized that they weren't getting to become crypto millionaires overnight, prices dropped. The FUD being promoted through the united kingdom poll shows individuals not doing their due diligence. Bitcoin has recently stabilized and commenced to maneuver up a touch. Perhaps the latter half of 2020 may cause another Bull Run, thus increasing the share of these making a profit off their cryptocurrency.
CBW - External Analyst