30% of UK poll participants believe that they missed out on the Bitcoin train and they won’t invest because of the same reason so let’s read more in our latest Bitcoin news today.
About one-third of the UK investors believe that missed out on the chance to get on the BTC train so they prefer to stay out of the market entirely as per a recent survey. They believe that the first-ever cryptocurrency still hasn’t stopped the bull run and will continue going up to above $70K this year. The research by the UK Thinks Tank Parliament Street and the polling company Census wide asked about 2000 citizens about their views and perception of the crypto industry and the changes over 2020.
One of the outcomes of the survey showed that 30% of UK poll participants believe that they missed out on the Bitcoin train while others believe that more traditional assets like stocks are too risky to invest in right now. They argued that the COVID-19 pandemic and the effect on the economy caused this change while outlining the benefits of BTC and other cryptocurrencies:
“As a result, cryptocurrency, and especially bitcoin, has become an increasingly legitimate option as an investment asset, with 29% revealing that they would never have considered investing in cryptocurrency before the most recent bitcoin bull run, but they are now.”
30% of the investors said that they will steer clear because they feel like they’ve missed out on the BTC boat after the benchmark cryptocurrency surged in value by six times since October 2020. However, 25% of the survey participants, noted that they would have made up to $1.4 million on average in profit if they moved all of their assets into BTC at the start of 2020.
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The research explained that the entrance of Elon Musk’s Tesla in BTC enhanced the legitimacy of the entire crypto industry and the electric vehicle giant allocated $1.5 billion in crypto. There were plenty of others that invested in bitcoin this year, praising the asset. The paper added:
“Bitcoin has also been buoyed by other external events, such as Elon Musk and Tesla’s endorsement of the digital currency.”
They noted that the entrance of these prominent names will continue surging in value as 31% predicted that BTC will surpass the $70K by the end of the year while 18% believe it will surge to $140,000.
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