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Investing in Bitcoin without understanding anything about it?
You are definitely not alone
New Investing.com Financial Trading Platform Survey: About 70 percent of investors admit that they have no idea or that they have little understanding of cryptocurrencies
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Wednesday, 01 December 2021, 12:50 Updated: 13:06
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About 55% of Israeli investors hold cryptocurrencies and about 56% plan to invest in cryptocurrencies over the coming year, according to a survey conducted by the financial information platform Investing.com.
According to the survey, conducted among Israeli investors, 43% of respondents believe that the price of Bitcoin will cross the all-time high and reach a new high of between 70-80 thousand dollars by the end of the current year, while about a quarter of respondents believe it has already reached 2021. Looking ahead, Over 40% believe that by 2022 the price of Bitcoin will cross the $ 100,000 mark.
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Do not be afraid to invest even without an understanding of the field (Photo: ShutterStock)
46% of investors plan to invest in Etherium, in addition to an additional 45% who intend to invest in the best-known crypto currency, Bitcoin. About 11% plan to invest in DogeCoin, which is considered one of the market leaders, with a rise of more than 5,700% in its price over the past year. Elon Musk, founder and CEO of Tesla, is considered one of the most enthusiastic supporters of the currency. In addition, about half of the investors responded that they support the issuance of a digital shekel by the Bank of Israel.
"A new generation of investors The cryptocurrency is fundamentally different, "said Jesse Cohen, a senior analyst at Investing.com. On the brokerage companies and the banks. "
The big interest in digital currencies comes despite the fact that about 70% of investors indicated that they have no idea in the field or that they have "little understanding".
Surprisingly, the trend actually increases as the age of the respondents increases.
While at the age of 18-21 only about 8% of investors say that "they have little understanding, but it is enough for them", in the age group 22-29 about 17% say so, while among those aged 50-59 the number doubles to about 34 %.
More than a third of investors say they have full confidence in Bitcoin and other cryptocurrencies, while another third do not trust them at all.
The high price volatility represents the most serious problem of cryptocurrencies, in the opinion of 35% of investors.
New regulatory restrictions (32%) and fear of using the currency for criminal purposes (27%) are the other major problems for investors.
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