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More than 30% of bitcoin investors also invested in ethereum

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According to a survey report, more than 30% of bitcoin investors also invested in ethereum

39.54% respondents believe that Bitcoin should be classified as security

According to a recent survey conducted by LendEDU, student loan and refinancing organization in US, some surprising results came through.

In September, LendEDU asked 1,000 Americans a series of questions about Bitcoin as both an investment opportunity and as a currency. In October, they asked 1,000 Americans a series of questions related to Ethereum, Ripple, and Initial Coin Offerings. Over the last couple months, data has shown that many Americans are excited about the cryptocurrency.

In November, LendEDU commissioned a new poll of 564 Americans who have invested in Bitcoin and survey results were pretty surprising

1. Have you invested in other cryptocurrencies besides Bitcoin? 

a. 30.15% of respondents answered “Yes, Ethereum”

b. 15.60% of respondents answered “Yes, Ripple”

c. 21.28% of respondents answered “Yes, another crypto currency besides Ethereum and Ripple”

d. 48.40% of respondents answered “No, as in I have not invested in other crypto currencies.”

2. If possible, would you rather own Bitcoin through an exchange traded fund (ETF) that accurately tracked the actual price of Bitcoin?

a. 49.49% of respondents answered “Yes”

b. 16.31% of respondents answered “No”

c. 34.20% of respondents answered “Unsure”

3. Do you believe that increased regulation and oversight by U.S. government agencies would be a good or a bad thing for the price of Bitcoin?

a. 31.21% of respondents answered “A good thing for the long term”

b. 38.48% of respondents answered “A bad thing for the long term.”

c. 23.40% of respondents answered “Unsure”

d. 6.91% of respondents answered “Neither good or bad”

4. Do you have multiple Bitcoin wallets?

a. 46.63% of respondents answered “Yes”

b. 53.37% of respondents answered “No”

5. Do you believe Bitcoin should be classified as a commodity or a security?

a. 31.56% of respondents answered “Commodity”

b. 39.54% of respondents answered “Security”

c. 28.90% of respondents answered “Unsure”

6. Which of the following best describes the reason you invested in Bitcoin?

a. 21.81% of respondents answered “Bitcoin is a long term store of value, like gold or silver.”

b. 40.78% of respondents answered “I believe Bitcoin is a world changing technology.”

c. 14.01% of respondents answered “I believe that the price of Bitcoin is too low, and will only go higher.”

d. 15.25% of respondents answered “A friend, family member, or another trustworthy source convinced me to invest.”

e. 8.16% of respondents answered “I plan on using Bitcoin for transactions or purchases, and less of an investment.

7. How long do you plan to hold your Bitcoin investment?

a. 16.49% of respondents answered “Less than 1 year”

b. 39.54% of respondents answered “1 to 3 years”

c. 22.34% of respondents answered “4 to 6 years”

d. 9.93% of respondents answered “7 to 10 years”

e. 11.70% of respondents answered “Over 10 years”

8. The price of Bitcoin is currently near all-time highs. Have you sold some or all of your Bitcoin investment since investing?

a. 32.62% of respondents answered “Yes”

b. 67.38% of respondents answered “No”​

At what price per Bitcoin would you be willing to sell all of your Bitcoin investment?

On average, respondents reported that they would be willing to sell all of their Bitcoin investment at $196,165.79 per Bitcoin.

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Crypto Market cap reached $275 billion

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Market cap of crypto currencies reached the level of $275 Billion after a spike on 4rth July 2018, Bitcoin maintaining its dominance at 42% , making it the biggest crypto currency in the world.

Bitcoin price currently trading at around $6700 after a 3% spike in the price , making it jump from $6500 to $6700 within minutes, analysts are predicting that this recent upside movement in crypto market in weak and need to sustain these levels in order to attract more buyers, otherwise overall bearish market is still in control.

$7000 is a key level for Bitcoin 

$7000 is very important level for bitcoin according to many technical analysts, If it breaks above $7000 and stays there then chances are that upside move will be healthy, otherwise bear will look forward to take control of the situation again.

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Switzerland merging Cryptocurrencies with conventional banking

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Switzerland is on the right track to become a Crypto nation and country is making efforts to allow cryptcocurrencies to fully access conventional banking .

Bitcoin and other crypto currencies has taken a big hit in brutal bear market of 2018 but that’s not stopping Switzerland to allow cryptocurrencies to fully access conventional banking system within the country. Switzerland is currently in progress and drafting rules and regulations for such collaborations.

Heinz Tännler, Swiss expert & finance director of Zug canton, told media earlier that politicians were moving to allow crypto companies to work with banks, adding that Switzerland’s central bank, financial supervisor and federal government “are willing to help”.

He said: “We hope to clarify relationships by the end of the year at the latest.

“Time is pressing, other jurisdictions such as Malta and Singapore are very active and making a lot of effort to attract these companies. The lack of access to bank services is a significant competitive disadvantage.”

“We have to push certain national institutions to resolve this problem quickly and effectively, but that now seems to be going well.”

Blockchain becoming the global phenomenon 

The concept of Blockchain is interesting and attractive for all the countries, many countries may disagree on the existence and usage of cryptocurrencies, but all of them agree with the fact concept of blockchain is not going anywhere and governments can benefit from this technology in various fields, but if you ask any expert of blockchain, he would tell you that success of Blockchain technology has to be linked with existence of crypto currencies, without crypto currencies, and ecosystem can’t exist, many governments around the world are slowly recognizing the fact and Switzerland is definitely on the right track if they allow crypto currencies to work in collaboration with the Banks, because many banks around the world are not allowing crypto currencies to offer services through them, but this initiative will open many doors in that regards.

 

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Crypto market stabilizing gradually

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Crypto market is stabilizing around $450 billion market cap after gradual increase in overall value in recent weeks.

Leading crypto currencies are on the rise, lead by Bitcoin, Ethereum, Bitcoin Cash and Ripple. Although increase in bitcoin value is less as compared to other crypto currencies but overall market is on rise with current market of $440 billion.

Bitcoin is currently hovering around the $9300 mark after being rejected at $10000 mark couple of times in last days, Ethereum is on the charge as well but the most surprising one is Bitcoin cash. Bitcoin cash was at $600 couple of weeks ago and now at $1600, shows rapid growth in recent weeks.

EOS

Crypto currency of the month has to be EOS, investors of EOS are enjoying a massive rise in value in past few weeks, EOS started April at $5 mark and now is at $18 , value of EOS increased more than 3 times within one month.

Current top 5 crypto currencies

  1. Bitcoin : $9388
  2. Ethereum: $741
  3. Ripple: $0.83
  4. Bitcoin Cash: $1630
  5. EOS: $18.28

 

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