Is Crypto Still Trending In 2023? This New Cryptocurrency Adoption And Sentiment Report Has The Answer

2022 was a highly unpredictable year in the world of cryptocurrency. It began on a high with so many celeb-themed marketing campaigns and plenty of advertisements linked to the Super Bowl. Unfortunately, it did not end as predicted with market shares exhibiting a 60% decline.

So many supporters of crypto were disappointed and it was nothing less than a crisis that arose. While some did see it as a ripe opportunity for investments, the majority viewed the conditions as mixed signals.

Now, as we make our way into the year 2023, we’re saying hello to a lot more uncertainty. The prices have increased slightly and the federal government continues to crack down against those taking part in trading. This coupled with the high risks attached, thanks to scams is definitely not the best news any investor would wish to hear.

Against such a background comes a new report which is a part of the third yearly study linked to crypto. It gathers so many insights from nearly 1200 US citizens. Here is where researchers took on some public perceptions, planned activities, and the confidence of people that make up today’s market.

Some key findings were witnessed, including the following as delineated below.

For starters, while the awareness of the crypto market was undoubtedly there, the rates of ownership were seen dropping from 33% to 30% in terms of American adults.

Next, the researchers noticed investors declining by almost 50% in 2022 when compared to the last two years before that. After that, only one in three owners of crypto has ended up making a profit on investments. However, they remain optimistic for obvious reasons. Today, 75% of them expect the market to continue holding its value or experience some sort of rebound this year.

Similarly, 50% of crypto owners hope to expand their respective portfolios by next year. Also, 5% of non-owners hope to make investments in this regard for the first time ever.

The report really showed how the awareness of cryptocurrency was increasing as we speak So many people were more aware of the trend this year when compared to the last two years with the percentage currently standing at 69%.

However, while the amount of awareness is peaking, so is the negative connotation of crypto in people’s minds. Despite that, one-third of Americans possess crypto tokens, as unveiled by this report.

As far as who is more interested in this trend. Well, it’s young to middle-aged men who are dominating this industry. Stats proved that 43% of males were more likely aware and willing to invest than females who stood their ground at 18%.

The age group of crypto token holders lies between 30 to 44. They are old enough to understand the meaning and hold some disposable income.

When the respondents were asked which year did they feel the most comfortable in making crypto investments, it was actually 2020 and 2021. And yes, there are plenty of cryptocurrencies in the market today.

But as far as 2023 is concerned, it’s Bitcoin that the majority continue to invest in. Around 78% claim they have supported this form of crypto this year, followed by Ethereum and Shiba Inu.

Over the years, the report shows how the stats related to different cryptocurrency investments have not majorly reshuffled. This is clear evidence of how so many people aren’t willing to sell off their tokens when the market is running at a decline or things are unpredictable.

Lastly, when asked why people continue to invest in crypto, the majority of respondents claimed that they saw it as an asset that would diversify their respective investments.
Read next: 87% of UK Adults Have Encountered Scams, New Survey Reveals
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