Consumer interest in crypto still strong despite bear market

In its latest Crypto Pulse report, Bitstamp stated that attitudes towards crypto remain largely positive, although retail has become more prudent as the cryptocurrency sector seeks a bottom in its current bearish trend.

The Survey

The Crypto Pulse survey was commissioned by Bitstamp, and took place between 19 May and 6 June 2022. It took responses from 28,000 retail and institutional investors, and took into account their views on knowledge, trust, plans, and attitudes on crypto.

The survey was split into 3 regions, which include UK and Europe, The Americas, Asia-Pacific. A general global view was also reported.

UK and Europe

For the 10,000 retail investors approached across the UK, Germany, Italy, France, Spain, and the Netherlands, more than half reported to be invested in crypto, a 7-point increase vs Q1.

Education was the biggest barrier to more crypto adoption, as 21% of those surveyed said that they’d like to invest in crypto markets but didn’t know enough about the sector.

Trust in crypto as an investment fell 2%, and the desire for more regulation increased from 23% to 26%. 

Nearly a third of the 2000 institutions surveyed said that they planned to increase their investments in crypto in Q2, with the largest increase coming from the UK where 35% wanted to increase their investment as opposed to 28% in Q1.

The Americas

Trust in crypto across the whole of the Americas remains strong, with most countries holding above 68%. The US showed the biggest increase in trust, with 61% in Q1 rising to 73% in Q2.

Once again, education was an issue, given that in the US and Canada combined, 44% said that they didn’t know enough in order to begin investing into cryptocurrencies.

On the other hand, those who considered themselves “very knowledgeable” were eight times more likely to find cryptocurrencies trustworthy.

Asia-Pacific

In this region the crypto winter is being used as an opportunity to build crypto positions for the future, as more than a third of institutions said that they were increasing their investments.

In Australia, institutional investments were strong, as 38% stated that they would increase their investments, compared to 27% in Q1. In comparison, institutional investment in Hong Kong was more cautious as a wait-and-see strategy is more prevalent in the country.

Around the globe

Given that we are in the midst of a bear market there has been very little reduction in the trust shown towards cryptocurrencies. A dip from 67% in Q1 to 65% in Q2 is quite minimal considering the downward trend.

In fact, the crypto market is showing some strong resilience, and this is also despite a general lack of education. Bitstamp CEO, JB Graftieaux stated:

“This Crypto Winter will provide an opportunity for investors, both retail and institutional, to build for the future,”

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.