Young investors are the hardest to sway when things in the cryptocurrency market get bad, according to eToro investment analyst Callie Cox.
Citing a survey conducted in March, Cox said 1,000 investors were petitioned about their attitude towards cryptocurrencies.
Those aged 18-34 seemed to be backing Bitcoin (BTC) the most with 58% of them agreeing that buying cryptocurrency such as BTC would be wise in the next three months.
This contrasts with the holdings of older, retail investors aged 35-45 who have been reducing their crypto holdings out of fear they might lose too much, according to Bitstamp Global USA CEO and chief commercial officer Bobby Zagotta.
However, Zagotta also told Cointelegraph every asset class presents a risk in the current macroeconomic climate.
In a similar study conducted back in 2021 exploring the bull run in 2017-2018, a pair of researchers found that young investors tend to be the biggest driver of a cryptocurrency’s value.
Even though they don’t have as much money as their elders, they are confident in the long-term prospect of the investment.
Not much has changed right now as the current market has not turned youngsters away. That is if you do not consider those who lost everything during the Luna debacle.
Then again, Cristina Guglielmetti from Future Perfect Planning confirmed that none of her clients had sold any assets. Guglielmetti said that may be because of her clients focusing more on crypto as an “educational experience”.
The months ahead for crypto will be difficult, but young investors may be what the ecosystem needs to tide this crisis over.
In the meantime, you may go ahead and use cryptocurrencies recreationally and gamble at Bitcasino, 1xBit or FortuneJack.