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Bitcoin Investors Show Optimism By Buying the Dip

The crypto bloodbath witnessed in 2022 has left every trader in awe, and of course, the talking point was the king of crypto Bitcoin. Bitcoin crashing to a six-month low of $38k in January shook the crypto world, with several traders liquidating their positions and recording huge losses. 

However, Morning Consult released some interesting statistics regarding BTC investors after a survey. According to the data intelligence firm, BTC investors are optimistic that the O.G. crypto will bounce back to the $55k level in six months. In anticipation, they are accumulating more BTC than ever.

U.S. Respondents Are More Inclined to Purchase BTC

According to the study, 21% of United States respondents were eager to purchase BTC even when the price was lower than $33k at one time. Morning Consult also revealed that the number of U.S. Bitcoin investors dropped from 17% recorded in May last year to 13% two months later the same year. 

BTC lost over 50% of its value in that span, dropping to $28k. Although the intensified clampdown on crypto miners in the Chinese region also contributed to the fall of BTC. 

The most optimistic respondents were holders of BTC worth $500 and above. The study shows that these respondents are anticipating the price of BTC to surge to $62,439 within the next six months. This will keep it within touching distance of its A.T.H. price of $69k attained in November last year. 

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Charlotte Principato of the Morning Consult noted that the result of the survey proves that consumers are less perturbed about the crash of BTC this time compared to last summer when the price plunged. The study also revealed that growing a crypto portfolio was the primary reason that lured 70% of investors into Bitcoin. 

BTC Investors Are Risk-Tolerant, Study Says

Risks are part of any financial investment. According to the same study, BTC investors were four times more likely to accept financial risks than the majority of the population involved in financial assets. The study didn’t expound on the reasons this is so. But that BTC investors are more risk-tolerant speaks volumes about their financial behaviors.

Bitcoin is still nowhere close to the $69k level attained last November. As of the time of this writeup, the flagship crypto is trading below $39k, about $30k away from its A.T.H. Analysts opine that the O.G. coin needs to break the $40k resistance level to record a significant uptick that will kickstart a bullish run. 

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Meanwhile, crypto adoption is still on the rise, considering that Visa-crypto cards payments have hit $2.5B in Q1 of 2022. 


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Shelly Melancon (Switzerland)

Shelly is a cryptocurrency enthusiast from Switzerland, she bought her first crypto in 2015 when it was way less popular then it is today and since 2017 she has been writing about cryptocurrency for online news portals. Shelly is the newest addition to the Tokenhell team, she writes mostly news and reviews related articles , stay tuned to her posts to stay up to date with the crypto world.

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