Crypto Adoption Frenzy: More Than Half of Americans Familiar with Bitcoin, Litecoin and Ethereum

The cryptocurrency market may be experiencing a sudden bear market, but recent statistics released by the American Institute of Certified Public Accountants demonstrate that consumer awareness and interest in digital assets such as Bitcoin, Litecoin and Ethereum is at an all-time high.

A new study published by the AICPA, conducted in partnership with The Harris Poll, has revealed that more than 50 percent of all Americans are aware of cryptocurrencies, with 54 percent of respondents anticipating the crypto market to either remain stable or increase in value in the next year.

The survey also revealed that cryptocurrencies are set to constitute 5 percent of the total U.S. investment pool in the next year as retail investors enter the crypto market on a large scale.

The AICPA's survey, conducted via telephone across 1,014 adults in the U.S., April 5-8, found that one in 20 respondents planned on investing in the cryptocurrency market within the next year.

While the number of new investors entering the market may be small compared to the 16 percent of respondents planning to invest in traditional markets, the level of cryptocurrency awareness demonstrates growing blockchain literacy in the general population.

The AICPA survey also sheds light on the low level of research conducted by market participants regarding investment strategy-nearly 30 percent of all respondents revealed that they do not research business fundamentals such as quarterly financial earnings, profit margins and market positioning to ensure investment opportunities fit their portfolio before investing.

"Investing is not a get-rich-quick scheme and trying to time a volatile market with hopes for huge gains is a serious financial risk. Many people who enter the market looking for a quick buck find they can't handle watching their investment lose value, which leads them to sell at a loss. For most people, seeking incremental gains over a longer time horizon is a safer, more sustainable approach."

"If you're selling today after this decision, it's the wrong way to do crypto investing. There is more to this story than just an ETF.".

A little spoiler alert, on Sept. 30, SEC will likely postpone it again, because the market is not ready for it and the SEC hasn't had the answers to their questions yet.

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