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Millennials may be more tech-savvy but a new study suggests that boomers, those born from 1946 to 1964, are better crypto investors. A report by Bybit and consumer research company Toluna noted that boomers are applying to crypto projects the same research methods used in traditional markets.
According to the study, 34 percent of boomers spend “a few days” doing due diligence on a crypto project before making an investment decision, which is 50 percent more than other generations, according to Cointelegraph.
Apparently, the majority of crypto investors don’t put much effort into doing research on their potential targets.”64% of North American investors spend less than two hours or don’t DYOR at all,” the report said.
In addition, boomer investors are more likely to focus on technical factors when doing their research including revenue, competition, and tokenomics. On the other hand, younger investors are more likely swayed by reputational elements such as a charismatic founder and “website aesthetics.” One possible explanation for boomer investors’ tendency to conduct more thorough research is that they might be retired and, therefore, have more free time compared to their younger counterparts.
Crypto might have many properties that set it apart from other capital markets but investors can still use the analytical skills and methods in analyzing traditional assets and apply them to crypto assets. Just like traditional markets, supply and demand still dictate the prices of digital assets.
Cointelegraph suggested that focusing on technicals might have helped prevent poor-decision making that led to huge losses last year. One factor that is advantageous for boomers is that they are used to calculating price-to-earnings and price/earnings-to-growth ratios so it’s easier for them to apply these techniques to crypto assets. Younger investors need to learn why volume is critical and the importance of “circulating supply” versus “max supply.”
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