Cryptocurrency News

Survey Shows That Fear Of Missing Out Is Present Amongst UK Investors

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One certain fact in the market today is that if most of the market traders had an idea that Bitcoin would be this big, they would have invested more. Bitcoin was created in 2009 by Satoshi Nakamoto, and the digital asset is sold for less than its selling price now. Presently, Bitcoin is the biggest digital asset in the market according to market cap, with the digital asset recently touching a $1 trillion cap some days ago.

While a few investors had held Bitcoin from when it didn’t cost much, major investors invested in the digital asset when it was already blown. A recent survey has shown that a third of investors across the United Kingdom said they missed the Bitcoin boat. Hence they would not invest in digital assets.

Respondents predict Bitcoin reaching $100,000 by the end of the year

In the post published by a private organization that goes by the name Parliament Street think tank, most of these investors believe that they can no longer make remarkable gains from the market; hence, they will not dabble into it. With Bitcoin seeing a massive 630% gain to close down the year 2020, most of the investors pointed out that they would have seen gains running into millions of pounds if they had invested all their net worth in the digital asset at the beginning of last year.

The poll, which the Independent Survey organized, saw a total of respondents of 2,000 across the United Kingdom. The company pointed out that the survey was carried out to ascertain the people’s views regarding their investments in the pandemic’s uncertain future. One-third of the population hopes that Bitcoin could achieve a massive $70,000 price mark by the end of the year, while the others choose to stick with the $100,000 prediction by the end of the year.

Bitcoin volatility still present

About 29% noted that they were never interested in Bitcoin until the recent bull run happened. What further took their interest in the market was the recent PayPal announcement regarding digital assets. Others also pointed to the influx of major institutional investors such as Microstrategy and the recent buy of $1.5 billion worth of digital assets by Tesla.

Coming with mentioning Tesla, most of them agreed that the endorsement of the leading digital asset by the CEO of the company, Elon Musk gave them all the push that was required to enter the market. As per CoinGecko data, Bitcoin saw a 20 minutes rise from its price of $39,000 to clock a region around $43,000 after the big buy by Tesla happened.

In comparison to crypto, most of the respondents pointed out that they would not want to dabble in stocks as the market reeked volatility caused by the recent pandemic. At that, 52% said they wouldn’t mind the volatility and would still choose precious metals, stocks, and other traditional assets over digital assets. 55% of the responding population pointed out that they are not interested in investing in digital assets this year.

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