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Lack of Knowledge, A Hindrance for Investment into Crypto-Space - eToro survey

Wed, 19 Dec 2018, 12:06 pm UTC

Year-2018 has almost been a bearish trend for bitcoin, $3,215.20 level is proven to be the strong support for BTCUSD that seems to be the bottom for now.

Well, it’s all green on the crypto street after quite some time, as a result, recent rallies seem like bulls have just hit the floor.

A new survey from leading investment platform eToro divulged that the education is the biggest obstruction for preventing online investors from purchasing cryptocurrencies. Moreover, there is a strong zeal for financial advisories to include crypto as part of investors’ long-term portfolio. Other highlights include:

  • Attitudes about crypto are informed by limited educational resources: 44% of online investors state that a lack of educational resources is the main reason for not trading crypto.
  • Women just as interested in crypto as men, but seek more information: Survey results indicate that while 41% of men identified price volatility as the top barrier to trading crypto, over half (51%) of women identified the lack of education or knowledge as the top reason for not trading. Interest in crypto were the same between men and women — 61% of both genders were interested or very interested in more crypto education.
  • Millennials significantly more in favor of using financial advisors compared to Gen X, Boomers: 19% of Millennials planned on using a financial advisor to buy or sell products such as stocks, ETFs, or crypto-assets, while only 11% of Gen X and 12% of Boomers indicated the same.

The U.S. managing director of eToro, Guy Hirsch says that “Late 2018 has seen the cryptocurrency market take a huge tumble, but that has not stymied investors’ interest in the asset class and its potential. Online investors are still keeping their eye on cryptocurrencies, but this survey revealed that there is a serious lack of educational resources available to those who would like to invest in or learn more about crypto. As we move toward a future where assets will become increasingly tokenized, it’s important to give investors access to the resources they need to invest in the assets they want and truly consider crypto-assets as part of their long-term investment plan.”

Currency Strength Index: FxWirePro's hourly BTC is flashing at 181 (bullish), hourly USD spot index is flashing at -93 levels (which is bearish), while articulating at (06:29 GMT).

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