The crypto market has been very volatile this year with Bitcoin (BTC) down by around 45 percent from its November 2021 all-time high. However, a recent survey revealed that the majority of Americans remain bullish on crypto and even expect token prices to rise this year. In fact, almost all of the existing crypto owners in the U.S. expect to buy more tokens this year.
Crypto trading platform Voyager Digital recently surveyed more than 6,000 Americans to understand the current sentiment around crypto among consumers. In the recently published Crypto Confidence Survey, 64 percent of respondents believe that crypto will gain value this year.
With this positive outlook, it’s not surprising that around 61 percent of the respondents indicated that they might buy crypto this year. “While American men are twice as likely as American women to currently own crypto (30% vs. 15%), men and women are equally likely to consider buying crypto in 2022 (60% vs. 62%),” the report added.
“I think consumers look at it as a long-term investment and that there's going to be an evolution of technology that's built on blockchain,” Voyager Digital CEO Stephen Ehrlich told ZDNet. “I think a lot of the protocols, a lot of the coins and blockchain are the next version of the technology evolution -- not revolution -- but evolution.”
While previous surveys have shown that millennials are leading the way when it comes to crypto adoption, Voyager Digital’s survey shows that other generations are already catching up. While 43 percent of millennials say they will likely buy crypto in 2022, 36 percent of Gen Z and 31 Gen X respondents are also saying the same.
Existing crypto investors are particularly bullish on crypto assets this year. “Ninety-eight percent of current crypto owners say that it’s likely they will buy more cryptocurrency in 2022,” the report added. “Nearly half (49%) of all crypto owners hold at least $1,000 in cryptocurrency. Two-thirds (66%) have recommended crypto to their friends and/or family.”