{"id":1779736,"date":"2022-12-19T06:08:06","date_gmt":"2022-12-19T11:08:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1779736"},"modified":"2022-12-19T07:18:28","modified_gmt":"2022-12-19T12:18:28","slug":"young-crypto-investors-still-bullish-despite-2022-market-crash","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/young-crypto-investors-still-bullish-despite-2022-market-crash\/","title":{"rendered":"Young Crypto Investors Still Bullish Despite 2022 Market Crash"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyoung-crypto-investors-still-bullish-despite-2022-market-crash%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1779736&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>It has been a tumultuous year for the <a href=\"https:\/\/www.theepochtimes.com\/t-cryptocurrency\">cryptocurrency<\/a> industry, from the crash in prices to the FTX meltdown. However, a new <a href=\"https:\/\/tastyworks.com\/insights\/crypto-state-of-the-industry\/\">study<\/a> finds that hasn\u2019t discouraged many young investors from parking their disposable income in crypto.<\/p>\n<p>According to a new Crypto State of the Industry Report by brokerage firm tastyworks, Generation Zers and millennials are investing in virtual tokens.<\/p>\n<p>The report found that 21 percent of 18- to 24-year-olds, 34.9 percent of those 25 to 34, and 21.4 percent of 35- to 44-year-old individuals are trading digital currencies. While Gen Z is bullish on Bitcoin, millennials are more invested in Ethereum.<\/p>\n<p>Overall, more than half of Gen Z and millennials want to incorporate cryptocurrency into their retirement plans.<\/p>\n<p>The authors discovered some other findings about the state of crypto in 2022.<\/p>\n<p>Dogecoin, Axie Infinity, Shiba Inu, Ripple, Uniswap, and Elrond were some of the other most popular cryptocurrencies outside of Bitcoin and Ethereum this year. Investor sentiment was mostly positive for many of the top digital currencies, from Litecoin to Chainlink to Uniswap.<\/p>\n<figure id=\"attachment_4391461\" class=\"wp-caption alignnone\"><a href=\"https:\/\/img.theepochtimes.com\/assets\/uploads\/2022\/04\/1.tagreuters.com2022binary_LYNXNPEI361AO-FILEDIMAGE-1200x766.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"lazy size-medium wp-image-4391461\" src=\"https:\/\/www.theepochtimes.com\/assets\/themes\/eet\/images\/white.png\" data-src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/1.tagreuters.com2022binary_LYNXNPEI361AO-FILEDIMAGE-600x383-1.jpg\" alt=\"Epoch Times Photo\" width=\"600\" height=\"383\"   style=\"display:none\"><figcaption class=\"wp-caption-text\"><noscript><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-4391461\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/12\/1.tagreuters.com2022binary_LYNXNPEI361AO-FILEDIMAGE-600x383-1.jpg\" alt=\"Epoch Times Photo\" width=\"600\" height=\"383\" \/><\/noscript><\/figcaption><\/a> A representation of cryptocurrency Bitcoin is seen in front of a stock graph and U.S. dollar in this illustration, on Jan. 24, 2022. (Reuters\/Dado Ruvic\/File Photo)<\/figure>\n<p>In the United States, the most popular place for investing in crypto was Phoenix, which represented 3.41 percent of all U.S. crypto trades. This was followed by Bowie, Maryland (2.67 percent); Valley Springs, California (2.28 percent); and Frisco, Texas (1.58 percent). States with the largest number of Bitcoin ATMs based on population sizes were Rhode Island (168), New Mexico (315), Texas (4,341), Connecticut (505), and Tennessee (963).<\/p>\n<p>But while younger investors might be optimistic about crypto, opinions are mixed heading into 2023.<\/p>\n<h2>Will Bears Reign Supreme in 2023?<\/h2>\n<p>Most digital currencies suffered sharp losses this year. Bitcoin lost 63 percent, Ethereum plunged 66 percent, Cardano tumbled 78 percent, Dogecoin shed 50 percent, and Solana lost 92 percent.<\/p>\n<p>Since peaking at $2.83 trillion in November 2021, the total crypto market cap declined by about $2 trillion.<\/p>\n<p>The debate is if the crypto winter will continue to endure a deep freeze next year or thaw out. The analyses have been mixed heading into 2023.<\/p>\n<p>Global investment manager VanEck, for example,\u00a0<a href=\"https:\/\/www.vaneck.com\/us\/en\/blogs\/digital-assets\/matthew-sigel-11-crypto-predictions-for-2023\/#point-two\">projects<\/a> that Bitcoin could rally to $30,000 in the second half of 2023, after plummeting to as low as $10,000 in the first quarter.<\/p>\n<p>Matthew Sigel, VanEck\u2019s head of digital assets, thinks there will be many bankruptcies of crypto miners that might \u201cmark the low point of the crypto winter.\u201d However, Bitcoin prices could enjoy a rally on \u201clower inflation, easing energy concerns, a possible truce in Ukraine, and a turnaround in M2 supply.\u201d<\/p>\n<p>The M2 is a measure of the money supply that includes cash, checking deposits, and easily convertible near money, such as government bonds.<\/p>\n<p>For advanced economies, investors will view crypto as a hedge against the Federal Reserve\u2019s M2 money supply, while developing markets will concentrate on alternatives to the \u201cdollar hegemony\u201d as a world reserve currency.<\/p>\n<p>\u201cMeanwhile, should our recession expectations materialize, the Federal Reserve would likely pause raising rates amid softening inflation, while money printing and government budget deficits continue,\u201d Sigel wrote. \u201cMerely a lack of bad crypto-specific news, under the above scenario, could cause the price of Bitcoin to climb a wall of worry back to $30,000 again.\u201d<\/p>\n<p>Bitcoin could, however,\u00a0<a href=\"https:\/\/www.bnnbloomberg.ca\/bitcoin-sinks-further-70-in-standard-chartered-list-of-possible-2023-upsets-1.1854857#:~:text=Bitcoin%20Sinks%20Further%2070%25%20in%20Standard%20Chartered%20List%20of%20Possible%202023%20Upsets,-Joanna%20Ossinger%2C%20Bloomberg&#038;text=(Bloomberg)%20%2D%2D%20Speculators%20cleaving%20to,2023%2C%20according%20to%20Standard%20Chartered.\">plunge<\/a> about 70 percent, to $5,000, next year, says Eric Robertsen, Standard Chartered\u2019s global head of research, citing more \u201cbankruptcies and a collapse in investor confidence in digital assets.\u201d<\/p>\n<h2>Spillover Fears<\/h2>\n<p>Although crypto prices have cratered since peaking in November 2021, there has been heightened concern that the collapse of the FTX exchange could spark a contagion effect for the broader financial markets. But speaking in an <a href=\"https:\/\/www.cnbc.com\/2022\/12\/16\/no-signs-of-crypto-spilling-over-into-traditional-assets-yet-analyst-says.html\">interview<\/a> with CNBC, Laith Khalaf, an investment analyst from AJ Bell, doesn\u2019t see \u201csigns of spillover\u201d from crypto into conventional assets.<\/p>\n<p>\u201cCrypto has a lot of money, but it\u2019s kind of built up as a separate ecosystem,\u201d he said. \u201cIf we had a more system-wide issue, you could start to see it affecting other assets, but I don\u2019t really see that.\u201d<\/p>\n<p>Despite crypto assets and stocks trading mostly separately over the years, there has been a growing correlation between the two markets, according to the International Monetary Fund (IMF).<\/p>\n<p>Because crypto assets have matured from a decade ago, with Wall Street embracing the digital asset revolution, IMF economists purport that Bitcoin and stocks share similar movements. As a result, there could be \u201cripple effects.\u201d<\/p>\n<p>\u201cIncreased crypto-stocks correlation raises the possibility of spillovers of investor sentiment between those asset classes. Indeed, our analysis, which examines the spillovers of prices and volatility between crypto and global equity markets, suggests that spillovers from Bitcoin returns and volatility to stock markets, and vice versa, have risen significantly in 2020\u201321 compared with 2017\u201319,\u201d the IMF stated in a <a href=\"https:\/\/www.imf.org\/en\/Blogs\/Articles\/2022\/01\/11\/crypto-prices-move-more-in-sync-with-stocks-posing-new-risks\">report<\/a> earlier this year.<\/p>\n<p>Since its early days, cryptocurrencies have been mainly affected by regulatory changes, developmental adjustments, and investor sentiment. However, market experts are witnessing increasing signs that crypto is being influenced by the same factors as stocks, be it monetary policy or geopolitics.<\/p>\n<div class=\"author_wrapper\">\n<div class=\"one_author_block round\">\n<div class=\"top_row\">\n\t\t\t\t\t<a href=\"https:\/\/www.theepochtimes.com\/author-andrew-moran\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/WEB_AndrewMoran.jpeg\" alt=\"Andrew Moran\" \/><\/a>\n\t\t\t\t\t<\/div>\n<p>Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of &#8220;The War on Cash.&#8221;<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It has been a tumultuous year for the cryptocurrency industry, from the crash in prices to the FTX meltdown. However, a new study finds that hasn\u2019t discouraged many young investors<\/p>\n","protected":false},"author":1,"featured_media":1779739,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[3990,5458,10184,6444,6987,5311,4545,3819],"class_list":["post-1779736","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-3990","tag-bongino","tag-bullish","tag-crash","tag-crypto","tag-investors","tag-market","tag-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1779736","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1779736"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1779736\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1779739"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1779736"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1779736"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1779736"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}