Bitcoin, more American than ever – The year 2022 is testing investor confidence in cryptocurrencies. You see a Bitcoin (BTC) return under the bar $ 30,000. The cryptocurrency markets are generally bearish. However, the figures emerging from a recent studies it should, however, reassure the crypto ecosystem.
Bitcoin crashes, cryptocurrency adoption explodes
The Bank of Africa conducted a cryptocurrency adoption survey of 1,000 people in early June 2022. According to this study, over 90% of respondents are preparing to buy cryptocurrencies in the next 6 months.
Furthermore, the survey revealed that the number of cryptocurrency holders is almost similar to the number of people who want to acquire them. L’adoption cryptocurrencies should therefore theoretically double by the end of 2022.
These figures are particularly important given the context of the study. The latter was carried out later 2 strong shocks in the cryptosphere. The following shocks may have shaken investor confidence in Bitcoin and cryptocurrencies in general:
- L’collapse of TerraUSD and LUNA which brought Bitcoin back below $ 30,000;
- the recent bitcoin crash which is around $ 20,000.
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Cryptocurrency used as … currency
Another statistic may explain these encouraging figures on cryptocurrency adoption over the next 6 months.
39% of respondents indicated that they use cryptocurrencies to pay Online shopping. This statistic is a reminder that cryptocurrencies are not seen solely as a store of value.
In addition to stable coins should be alternatives to fiat currencies, not a hedging business, such as gold. In this use case, bear markets in cryptocurrencies should not impact the adoption of these particular cryptocurrencies.
In theory, only the risks associated with losing the peg to a fiat currency should affect users’ confidence in a stablecoin. And while it’s still small, this use of cryptocurrencies is popular transaction currency is today in a upward trend. Even the brands in the luxury sector they are now opening their coffers to Bitcoin and its cadets.
Skeptics who doubt these figures can refer to the study of the European Central Bank (ECB). The latter reveals it 10% of the families interviewed by the institute own cryptocurrencies. At the moment, the adoption of Bitcoin and its cadets is unquestionably on the rise. The bear markets they currently have at most one impact cyclicnot structural.
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