Surveys Hint at Speedy Crypto Recovery, Investors on the Rise

  • A Bank of America survey says over 91% plan to buy crypto in the next six months. 
  • An IRA survey says 80% want to buy Bitcoin and cryptos for their retirement savings. 
  • These are great signs for a quick crypto market recovery.

Despite the current crypto market crash, many are still holding onto their crypto assets. In fact, most are certain the end to the bear market is near and that a bullish future is imminent.

According to a Bank of America survey, it seems that over 91% plan to buy crypto in the next six months. Specifically, according to an IRA survey, 80% say they want to buy Bitcoin and altcoins for their retirement savings.

Based on these responses, it seems like most are simply waiting for panic sellers to finish their panic selling. This way, the price of crypto and Bitcoin will be more affordable to the average consumers waiting for an opportune moment to buy cryptos. 

More so, since many plan to buy crypto for retirement savings, it shows that the majority have begun to accept crypto savings as a norm. Certainly, it seems cryptos have become quite the mainstream investment option for many. 

With results like this we can hope to see a steady recovery for Bitcoin (BTC) and other altcoins over the next few months. However, the road to recovery will take its time. After all, this week had a haggering start for cryptos. 

To highlight, Bitcoin has never been more oversold on a weekly timeframe than it did today. Meanwhile, the Crypto Fear & Greed Index is at a frightening 8 indicating ‘Extreme Fear’ for the crypto market. 

According to CoinGecko, the price of Bitcoin (BTC) presently stands at $22,573.80, down by 28% over the last seven days. Similarly, the price of Ethereum (ETH) is $1,231.36, down by 33.8% over the last seven days.    

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A focused and vigilant storyteller for all things blockchain and cryptocurrency. Besides consuming every piece of literature about the metaverse, she can often be found at industry convections looking for the latest scoop.