Number of Australians Holding Crypto Nearly Triples During Market Slump, Survey Shows

Number of Australians Holding Crypto Nearly Triples During Market Slump, Survey Shows

According to the recent survey, there is a number of owners cryptocurrency, about three times since the beginning of this year, nevertheless the recession trend of the crypto market, in which most cryptocurrencies fall from their highest level of all time.

According to the local publication, finder- baked brokerage firm HiveEx surveyed 2,000 people in January and in August this year. it was found in the number of Australian people that the crypto was increased from 5% to 13%.

The result is notable because of CryptoCompare data shows the price of bitcoin, flagship cryptocurrency, in early January, it decreased from $16,300 to $6,450 on press time, it is high time, in mid-December, was of nearly $20,000.

Naeem Aslam, the chief market analyst at ThinkMarkets, was quoted as saying:

“Crypto bulls are feeling the doom and gloom. The price of bitcoin is threatening this year’s low once again ($US5887) and this isn’t a good sign at all.”

It was further in the HiveEx’s survey that 50% of Australian cryptocurrencies were doing this as an investment, while 34% claimed to enter the market due to fear of missing (FOMO). An additional 26% noted they were using crypto to save for retirement.

Of those who did not have any crypto, 65% said they could not enter the market because they did not understand them or because they were very difficult to use. More than one in five said that they believed that the crypto’s scandal or bubble.

After transferring more than $100 million to a mysterious whale cryptocurrency exchange, the cost of bitcoin was dropped especially this week and after the reports, Wall Street’s giant Goldman Sachs were planning to lunch the bitcoin trading desk.

Cryptocurrency exchange expanded to Huobi Australian. The Co-founder of hit comparison site finder, Fred Schebesta, has come to know that he wants to make the nation’s first crypto bank.

Schebesta, after purchasing an “important” private holding in West Australian bank Goldfields Money, reported he believes a bank is a logical move for the industry, as he believes improving cryptocurrency adoption will see people need services that include “custodianship, cold storage, escrow, exchange, and spending.”

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