Despite The Downward Market, Trust In Cryptocurrency Remains High

The continuing cryptocurrency winter has had little to no influence on worldwide faith in cryptocurrencies, according to a new Bitstamp exchange-commissioned study.

Despite the bear market, global faith in cryptocurrencies remains unshaken mainly, according to Bitstamp’s latest Crypto Pulse survey. The survey is based on a survey done by an independent research organization and includes 28,000 retail and institutional investors from 23 countries.

According to the survey, the number of global retail investors who trust cryptocurrency has decreased slightly from 61% in Q1 to 65% in Q2 2022. Bitstamp analysts noted:

“Considering that in Q1 we were entering a crypto winter, these numbers are inspiring and speak in favor of the industry’s resilience.”

According to the survey, the proportion of crypto trust has varied by country, with the United States having the single largest gain in trust, rising from 61% in Q1 to 73% in Q2. Conversely, Canada was the only country where faith in cryptocurrency fell below 50% in Q2. Trust in cryptocurrency has also remained strong in nations such as Brazil, Chile, and Mexico, with trust percentages of 77%, 69%, and 70%, respectively. Bitstamp said:

“Although trust in crypto has declined slightly in some regions, investors are taking this time to either increase their investment or expand their knowledge of crypto. We believe that improving the market’s knowledge about the digital assets ecosystem is a move in the right direction.”

Bitstamp CEO JB Graftieaux noted that the crypto winter would allow both regular and institutional investors to prepare for the future. The present bear crypto market is coupled with an ongoing cryptocurrency lending crisis, with prominent lenders such as Celsius suspending withdrawals in June due to liquidity concerns.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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