Will Bitcoin Still Be a Thing in Ten Years?

Will Bitcoin Still Be a Thing in Ten Years?

According to a recent survey, there are a lot of Europeans that think cryptocurrencies will still be around in ten years time. Data recorded by bitFlyer Europe is a regulated crypto exchange which polled 10,000 individuals in ten European countries, revealed that just over 60 percent believe in staying power of digital currencies.

Even so, Europeans aren’t as confident about Bitcoin. Whereas around 63 percent believe that over the course of the next decade, cryptocurrencies will still come out bright on the other side, there is only 55 percent that sees Bitcoin still in the scene.

Where will we be in a decade

Despite the dreading bear market, consumer confidence in digital assets hasn’t been shaken. Even though the bear market has knocked off $700 billion in market capitalisation, the average guy will still be positive about the crypto market.

Respondents in Norway were very optimistic with 73 percent confidence that cryptocurrencies will still exist in ten years. Even France, who was the least optimistic country, still came out with a 55 percent majority support for crypto.

In regards to the results, the bitFlyer COO said:

“These results indicate that the reputation of cryptocurrency has moved beyond hype and become more established. It’s very easy to forget just how new cryptocurrencies still are; we’ve only just celebrated bitcoin’s 10th birthday, so for the majority of consumers to believe in crypto’s future is without a doubt an achievement.”

What was very surprising about the survey was that its consumers don’t have that confidence factor that crypto so desperately needs. Less than fifty percent of the respondents to the survey think that Bitcoin will even be a thing in ten years.

As reported by CCN,

“Negative press, including reports of hacks and investment losses, tend to focus around bitcoin rather than other cryptocurrencies. As the first and leading cryptocurrency, it takes the heaviest impact and has numerous negative stereotypes to overcome.”

Bryant explains:

“The fact that bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility, but is also a direct impact of the constant media attention that is associated to its volatility. We of course believe that bitcoin is here to stay, and while we’re encouraged to see the large majority of Europeans think the same, this research shows there is much more to be done to demonstrate to consumers the benefits of and use cases across all cryptocurrencies more widely.”

Investment Disclaimer
Related Topics: