A new bitFlyer poll conducted a sample survey of 10,000 respondents from 10 European countries. The results showed that most Europeans, especially those in Italy and Norway, believe that cryptocurrency is not a temporary trend.
Europeans are optimistic about cryptocurrency
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According to the details of the Google survey conducted by bitFlyer, 63% (more than two-thirds) of Europeans believe that cryptocurrency will still exist by 2029.
Among the 10 countries covered by the survey, respondents from Norway had the highest confidence in cryptocurrency, and 73% of respondents believed that virtual currency would continue to exist within 10 years.
Among all respondents, the French have the lowest confidence, and only 55% believe that cryptocurrency will continue to be used in the next decade.
But many people think that bitcoin will not last
Although the survey shows that Europeans are generally optimistic about cryptocurrencies, this enthusiasm has not spread to Bitcoin. According to bitFlyer, the survey involved seven possible answers to the question "Do you think bitcoin will exist in 10 years?"
Only 49% of respondents believe that Bitcoin will last for ten years. Italy has the highest proportion of Bitcoin believers, at 55%, while France is at the bottom again, at 40%.
In addition, only 7% of participants stated that Bitcoin would exist as a security or investment vehicle. Andy Bryant, chief operating officer of bitFlyer, commented on the results of the survey:
“Bitcoin does not receive as much support as other cryptocurrencies, which is partly a symptom of market volatility, but it is also a direct impact of continued media attention related to market volatility.”
Aside from the results of the polls, the performance of Bitcoin continues to exceed the sum of the other currencies in the cryptocurrency market. The recent rise in April has curbed most of the gains in the so-called "cottage season" of the altcoin.
On the technical side, Bitcoin continues to deal with transactions that add more value than all of the altcoins, even those with lower transaction costs. Safety and network effects are the most important.
From hype to legal asset classes
Overall, the results of bitFlyer's European polls are consistent with the emerging sentiment of cryptocurrencies moving from speculation to legal asset classes. In early April, a survey by the International Monetary Fund showed that more than half of the respondents said that cryptocurrencies will become mainstream in the next five years.
Since 2018, institutional participation in the cryptocurrency market has increased significantly. From endowment funds with investment positions to multinational conglomerates seeking to build key cryptographic services.
The growing consensus among analysts is that the next round of concealed bull markets will emerge in the context of a stronger asset class than a major feature of the 2017 bull market – speculation-driven speculation.
These analysts pointed to the emergence of a strong bitcoin market and technology base, as well as the decline in the ICO market.
English source: https://bitcoinist.com/italy-european-bitcoin-poll/
Source (translation): Bitcoin House