Cryptographic investors not shaken by the recent market selloff

Crypto Shadow Banking explained and why 12% of earnings are common

This comes on the heels of Cardano’s (ADA) meteoric rise in price over the past year. Last month Cardano released plans throughout the continent of Africa to widen accessibility to blockchain technology, which included a partnership with the Ethiopian government. In addition, the utilization of the Proof-of-Stake concept gives Cardano a greener-edge in the midst of the industry environmental concerns. The survey also prodded investors on their altcoin confidence and found an extremely bullish outlook on Cardano, followed by Dogecoin. Story continues

Voyager’s CEO Steve Ehrlich, called the bullish attitude of investors after such a massive selloff, encouraging to the future of crypto.  Nonetheless, seven out of ten investors surveyed remained bullish when asked about the price of bitcoin in the coming quarter. The predictions of at least 39% of the surveyed placed bitcoin’s price in the $50,000- $70,00 range near the end of the third quarter. At the time of press, Bitcoin pumped to a local high above $41,000 and shows a solid support level at $38,000.

Altcoin interest The May market crash came alongside a flurry of international news surrounding China’s ever-increasing crackdown on crypto usage and trades. Along with China, the U.S. tightened its grip on cryptocurrencies as tax season approached. Market volatility also coincided with more decisions from major companies to drop crypto as payment due to environmental concerns. The uncertainty resulted in a loss of nearly 43% in crypto market valuation in the span of just two weeks.

Source finance.yahoo.com Younger investors remain bullish on the long-term trajectory of not only bitcoin and altcoins but other developments within the space such as non-fungible tokens (NFT). As crypto continues to penetrate mainstream markets and media, only time will tell if investors’ bullish sentiment becomes a reality.

Another recent survey conducted by CNBC found that almost half of millennial millionaires have up to a quarter of their wealth stored in crypto assets. Young crypto investors

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