Bitcoin and cryptocurrencies have been a hot topic ever since they boomed in prices back in 2017 as the total market cap surged past $800 billion. However, a recent Twitter Poll presented an interesting statistic, showing that the number of involved investors might not be that high. On the other hand, it also means that there’s plenty of room to grow going forward.
Masses Not Yet Involved In Crypto
A recent Twitter poll revealed that the majority of retail investors are still not involved in the cryptocurrency market. According to the questionnaire which collected data from 3204 people less than 10 percent of retail investors are involved in the space.
While undoubtedly speculative, the information is somewhat definitive. According to 83% of the participants, less than 10% of their real-life friends or family have owned crypto. Comparably, only 3% of the participants said that the number was greater than 50%.
How many of your IRL friends or family own or have owned crypto?
— Crypto₿ull (@CryptoBull) August 11, 2019
At a glimpse, this could be interpreted as a bad sign that crypto is far from being adopted and well-known as most would like it to be. However, there’s also a massive silver lining.
The results emphasize the opportunities still available to enter the crypto community as an investor. The majority of the population is still to be introduced and to get involved with the cryptocurrency space. In other words, we are where we are with little to no retail participation, suggesting that it could grow substantially higher once people start getting in more seriously.
Current Crypto Investors – What And When
As CryptoPotato reported earlier this year, almost half of crypto investors have 60%-100% of their portfolios in altcoins and less than a quarter have between 0% and 20%. However, it is worth noting that even though more than 10,000 people voted in this poll, it took place in April – during a moderate altseason and before the major Bitcoin price surges. In the past couple of months, altcoins have been suffering tremendously, as a lot of them are marking new all-time lows when trading against Bitcoin.
An even more incisive poll with over 40,000 people in June, confirmed the theory that the biggest boom so far in the crypto industry for new-comers was in 2017. 58% of the voters claimed that they bought their first cryptocurrency during 2017 and 20% stated that their first crypto purchase was in 2016 or prior.
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Source: Crypto Potato