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The current crypto market situation seems to be quite bleak as the digital assets are noticeably stuck in downward momentum. This situation is being perceived differently by everyone. While many novice parties are now skeptical about stepping into the crypto space, others are quite confident regarding their investments.
Many crypto investors and enthusiasts have been trying to analyze how long the downtrend is likely to continue for the crypto market. However, the market movement has not negatively impacted the value and prominence of digital assets in any way.
According to a new survey, the number of people owning crypto is the same as the number of people wanting to invest in crypto. This indicates the constant and unwavering enthusiasm toward cryptocurrencies, which was predicted by several long-term investors.
More details of the survey conducted are mentioned below.
If you want to invest in crypto, you should first consider all your options and take a look at the top crypto assets you can buy for under $1 as well.
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Results of the Survey in Detail
The survey was conducted by the Bank of America earlier this month. It focused on the responses of 1,000 candidates. The current condition of the digital assets is not what many had expected and this has made many novice parties quite skeptical.
However, the survey revealed an interesting and surprising result, which shows that the significance of cryptocurrencies has not been negatively impacted, at least in the USA.
According to the survey, 90% of respondents are planning to invest in crypto assets within the next six months. Even though the bearish trend is not over yet (according to analysts), 30% of crypto investors do not plan on selling their crypto anytime soon.
Another interesting fact highlighted by the survey is that 39% of respondents use crypto assets as a payment method for online purchases.
Crypto adoption is not yet global but the utility of digital assets has been increasing substantially. There is a high use of specific types of crypto-to-fiat products.
Now even though a large number of participants have positive sentiments towards crypto assets they need to be careful while making any new investments. One of the factors they need to keep in mind is that FUD can result in a more severe drop in the crypto market, which can be quite harmful to them financially.
The overall result of the survey can be taken as a positive indication for the crypto market, despite current price movements.
Therefore, whichever asset you want to invest in or hodl, it is crucial that you do so with precautions. If you are a novice crypto investor and reside in the United States of America then you need to choose one of the best crypto exchanges in the USA first.
Few Useful Tips for New Crypto Investors
There is a multitude of cryptocurrencies available in the market that you can invest in. However, the current price fluctuations of the digital currencies have taken many by surprise, while others are left to wonder which asset to opt for.
This is one of several aspects new crypto investors need to know. Other important and useful tips are mentioned below that can help novice parties in making an informed decision about crypto investing.
- Start by investing a small amount.
- Opt for one of the lowest fee crypto exchanges that are secure and suit your needs the most.
- Monitor the price movement of the digital asset you want to buy.
- Know when to invest.
New crypto investors looking to purchase digital currencies like BTC or ETH, can click on SwissBorg or Kraken (U.S. citizens).
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