72% of investors will invest in cryptocurrencies in the coming months By Investing.com

72% of investors will invest in cryptocurrencies in the coming months By Investing.com
72% of investors will invest in cryptocurrencies in the coming months By Investing.com

© Reuters.

By Carlos González

Investing.com – There is no doubt that the world has changed enormously in the last year. The pandemic caused by Covid-19 has hit everyone hard in all areas of life, from the economic, social, work, family, … etc. Thus, if the year 2020-2021 will be remembered for the Covid-19 pandemic, in the financial markets it will also be remembered for the boom experienced by the crypto sector and most cryptocurrencies.

And, to give a clear example, about a year ago, in October 2020, he was trading around $ 13,600 and he was trading at $ 380. In October 2021, he exceeded $ 60,000 and ETH $ 3,700, which has meant a revaluation of 360% and 900% respectively.

Due to this extraordinary revaluation, from Investing.com we wanted to press the opinion of Spanish investors about this sector, a survey that has had the participation of more than 1,500 people and that shows the support, uncertainties and currencies with the greatest interest by Spanish investors.

Interest in cryptocurrencies on the rise

The crypto boom does not seem to be a passing fad but a type of investment that has come to stay. This is demonstrated by the interest of Spanish investors in this sector since a large majority of investors, specifically 82.1% look at the price of cryptocurrencies at least once a day, and 54.6% of them look at it several times a day, which shows the great interest of this sector among Spanish investors.

And it is that the rest of the investors look at the price of the different cryptocurrencies but in a more ‘relaxed’ way. Thus, 10.7% of investors look at the prices of crypto assets once a week and 2.9% do so only during the weekend. The remaining 4.3% declare that they do not look at the price of cryptocurrencies at any time.

This interest in crypto assets is demonstrated in that a 71.9% of respondents plan to invest in cryptocurrencies in the coming months, for only 12.7% of users who will not invest in this type of assets or 15.3% who are not clear about it

Most of the investment in these types of assets are small amounts. Thus, 35.8% of people plan to invest less than 1,000 euros and 39.3% will invest between 1,000 and 10,000 euros. 6.9% will invest between 10,000 and 50,000 euros and 3.1% more than 50,000 euros.

Bitcoin… “¿To the moon?”

Regarding the currency in which investors would mostly invest these amounts, the situation, although clear in the first 3 positions, is much more distributed with more than 100 different currencies mentioned in the survey. Thus, and in accordance with its market capitalization, we find Bitcoin (31.7%), Ethereum (22.3%) and (19.8%) as the cryptocurrencies that Spanish investors most ‘trust’. They are already far behind (5.1%), (3%), (2.3%) or (1.4%).

The 41.25% of investors believe that the price of Bitcoin will reach € 60,000 in the remainder of 2021, 35.7% believe that it can reach up to € 100,000, 4.8% that it will exceed that amount. On the other hand, 18.3% of those surveyed think that Bitcoin has already reached its ceiling this year.

Crypto uncertainties

Although its benefits and virtues are many, cryptocurrencies also have many uncertainties. Thus, the biggest problem in the eyes of Spanish investors focuses on the regulatory issue (35.1%), followed by the universal non-acceptance of this type of assets (26.5%), the thought that cryptocurrencies are only used for illicit activities (20.5%), the creation of digital currencies by central banks (6.4%) or energy inefficiency (4%).

Secondly, Almost half of Spanish investors believe more in the Blockchain than in the cryptocurrencies themselves (49.2%). 7.9% believe they are a scam and 42.8% declare their unconditional love for them by fully trusting Bitcoin and other cryptocurrencies.

But do Spanish investors really know exactly what Blockchain is? Only 5% of those surveyed state that they are experts in the field, while 60.4% confess that ‘without being experts’ they know its uses and what it is for, and 28.9% who know something because it has been explained to them. The remaining 5% indicate that they have no idea what the Blockchain is.

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