Despite the 60 percent decline in cryptocurrency valuations this year, consumers and investors continue to offer a bullish, long-term outlook for crypto and Blockchain.
Growing demand and positive outlook for cryptocurrencies. Cryptocurrency prices have see-sawed over the past several months. Nevertheless, 72 percent of consumers plan to increase their holdings over the next 12 months.
66 percent of them expect growth in crypto valuations over the next year.
Bitcoin, Ethereum and XRP are most popular crypto holdings. Consumers overwhelmingly picked Bitcoin as the top currency they own, followed by Ethereum, XRP and Litecoin. The three currencies, they said, offer the most potential for long-term success.
Cryptocurrencies and Blockchain technology may take longer to go mainstream. Сonsumers tempered their expectations for widespread adoption of cryptocurrencies. Less people now feel 2020 a realistic time for adopting cryptocurrencies. The percentage who think crypto will go mainstream by 2025 increased to 35 percent.
Volatility and security are key concerns for Crypto ownership while lack of education and commercial use pose key challenges to Blockchain adoption. Over 50 percent of survey takers picked volatility and over 37 percent picked safety and security as their top concerns.
57 percent of consumers picked lack of understanding as the top challenge while 30 percent believed lack of effective use cases as their primary concern.
The original research is published at https://sharespost.com/downloads/SharesPost_Cryptocurrency_and_Blockchain_Survey.pdf?nc=1Tweet