Survey reveals that American investors are looking to cash in from their Bitcoin investments by 2018.
Majority of American Bitcoin investors are optimistic that Bitcoin will perform even better in 2018.
While the Bitcoin ‘mania’ may seem absurd for traditional investors, millennials don’t seem to agree with the past. Instead, we’re seeing more and more millennials jumping on the bandwagon and picking Bitcoin as their top choice over other investment options.
Accelerated growth expected
Such reality is further revealed in a survey conducted by LendEDU in November 2017 with approximately around 77 percent of the polled 565 Americans claiming that Bitcoin price will increase higher and faster next year than its seventeen-fold appreciation in 2017.
Considering that most investors prefer Bitcoin for its decentralized nature, most respondents do not favor the implementation of additional digital currency regulations next year.
“We found that the plurality of Bitcoin investors do not want additional regulation in 2018. However, we thought it was interesting to see that 20 percent of our respondents are unsure about the idea of increased regulation.”
No intentions to add more
When asked whether many of these investors are likely to invest more in cryptocurrency, it shows that almost 75 percent of the respondents claimed that they plan to increase the size of their Bitcoin investments in 2018, with fewer than 10 percent stating that they have no intention to do so.
Whether it’s highly based on price increase speculation or not, around 31.5 percent said that they will sell some of their Bitcoin holdings next year, with 40 percent claiming that they would not and 28.5 percent stating that they are not yet sure on what to do.
Intention to cash in profits by next year
Around 51 percent of the pollsters said that they are planning to make at least one physical purchase using their digital currency, whereas 30 percent are still unsure if they will use it in their purchases or not.
When asked if they favor more regulations on Bitcoin and the cryptocurrency market, roughly 50 percent of participants claimed that they are not in favor of additional laws, while slightly more than 30 percent expressed their willingness to embrace more regulations.
With such varied opinion, it goes to show that many regular Bitcoin investors are likely to look into locking in their profits when 2018 comes despite the increasing price projections and market cap.
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Author: Lisa Froelings