By There is a growing demand and positive outlook for cryptocurrencies from both investors and consumers. Investors remain positive about the future of cryptocurrency and blockchain technology, and interest by consumers remains high. As a result, holdings in cryptocurrencies by investors and consumers are expected to increase.
Expectations for Cryptocurrency Valuations
Despite cryptocurrency prices having see-sawed over the past several months, the majority of investors and consumers expect crypto valuations to increase over the next 12 months. According to an industry report by SharesPost published in September this year, 66% of consumers expect growth in crypto valuations over the next 12 months, while the majority of investors in cryptocurrency, although less positive than consumers, also believe that crypto valuations will increase over the course of next year.
Investors at the beginning of this year were overwhelmingly positive that there would be an increase in crypto growth over the next 12 months, with 75% of investors remaining positive. This percentage has, however, decreased to only 59% of investors by mid-2018. While investors appear to have some creeping doubts in respect of the increase of crypto valuations, consumer consensus remains largely unchanged over the same period, with only a 3% decline in positivity from the beginning of this year to July 2018. Investors, it appears, are less positive after the performance of cryptocurrency investments during the first half of 2018.
Blockchain Technology within Companies
In addition to a positive outlook by investors and consumers, a growing number of companies also appear to be implementing blockchain technology. Almost half of the consumers surveyed said that their employers are planning to roll out blockchain in the near future. The percentage of consumers who said that their employers are considering a blockchain roll outgrew by 12% over the past six months, demonstrating a perceived growth in the need for blockchain technology within companies.
Although one-third of investors expected to see blockchain implementation in their companies, investor sentiment is still less positive than consumer consensus. Between 43% and 44% of investors still, do not believe that their companies are expected to implement blockchain technology within the next 12 months.
Cryptocurrencies: Investment or hobby?
Cryptocurrencies enjoy a strong awareness among consumers and investors, with 59% of both investors and consumers having owned cryptocurrencies either as a hobby or an investment. Despite the overwhelmingly positive impression consumers hold in respect of cryptocurrencies, only 7% of consumers actually own cryptocurrency as an investment, whereas most consumers own cryptocurrency as a hobby.
Investors, on the other hand, were less positive than consumers generally and this may be due to the fact that not only do far more investors own cryptocurrency but they have also been more heavily impacted by the recent instability in cryptocurrency pricing. Investors across the board have decreased their holding of cryptocurrencies from January to July of this year, with the only increase in cryptocurrency holding by investors as a speculative investment being an increase of 1%.
It appears that although consumers remain positive, investors in the crypto asset sector remain somewhat doubtful. Nevertheless, the overall outlook for cryptocurrencies remains positive with 59% of investors and 72% of consumers planning to increase their crypto holdings over the course of next year.
Are you as positive as most consumers? Or do you have doubts similar to those of most investors? Are you planning on increasing your holdings in cryptocurrencies? Let us know your thoughts in the comments below.
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