A new OCU survey reflects the profound ignorance of retailers, especially the youngest, about this market
The crypto asset market will need time to recover from a fateful 2022 for the industry. The burst of the bubble has led to more than a third of investors admitting to losing a large portion of the money they deposited during that time, according to an OCU survey.
The fall will have been harder for those who decided to enter the market this year, in which the most popular currencies, such as bitcoin or ethereum, have sunk 66% in the market. The former, which continues to collect the largest number of transactions, has grown from more than $46,200 at the start of the year to less than $15,500 by the end of the year.
The OCU study shows too much enthusiasm for this market when this profound lack of knowledge is taken into account. Especially among the youngest. Specifically, 61% of investors between the ages of 16 and 30 have already transferred part of their capital to some cryptoactive substance, a percentage that is double that of the oldest. The second most popular investment product among the youngest are mutual funds, but by far: 23% choose it.
The problem is that this investment rush has also exposed risks far beyond the sudden losses experienced this year. One is the deep ignorance that retailers admit to this asset class.
According to the survey, only 19% of those surveyed – 1,941 people over the age of 16 – claim to be well informed. And what is even more surprising. Nine out of ten young investors say they don’t have an advisor: they are their main ‘advisor’ when deciding which crypto assets to invest their money in.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
