Crypto’s youngest investors hold firm against headwinds — and headlines
The market drawdown and UST/LUNA fiasco may discourage some retail newcomers, but younger investors remain captivated by crypto’s technology. These can be anxious times for holders of cryptocurrencies, especially those who entered the market in late 2021 when prices were cresting. Bitcoin (BTC), Ether (ETH) and especially altcoins now appear to be undergoing a major reset, down 50% or more from November highs.Some worry that a whole generation of crypto adopters could be lost if things crumble further. “If the market decline continues, it will become too painful and retail investors will....
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It has been a turbulent morning for the crypto market, with Bitcoin trending down towards $15,000 while creating headwinds for altcoins That being said, Ethereum has largely been able to dodge these headwinds, posting a strong recovery from its brief early-morning dip towards lows of $440 It is once again moving to reclaim its $450 resistance, and flipping this level into support is vital for the cryptocurrency to see any significant upwards momentum One trader […]
Bank of America has found that younger wealthy Americans are 7.5 times more likely to hold crypto in their portfolios than investors aged 43 and older. “If the youngest cohort isn’t confident in stocks, where do they see opportunities for investment growth? Alternatives, including cryptocurrencies, which are their No. 1 choice,” the bank wrote. Young Wealthy Americans Prefer Cryptocurrencies to Stocks Bank of America released its 2022 Private Bank Study of Wealthy Americans this week. The report highlights the results of an online survey, conducted from May to June, of 1,052....
Institutional investors know crypto assets are volatile: “They’re making a generational bet and are not deterred by a few weeks of volatility.” Mid-May’s price plunge was one of crypto’s wildest pullbacks in recent years, a tumble that eliminated nearly $1 trillion from crypto’s market value. The industry had soared to new heights a month earlier, with Bitcoin (BTC) reaching almost $64,000, driven in good part by institutional investors. Now that some calm has returned to the market, bears are asking: How did institutions behave during the recent collapse? Did they jump ship or hold firm....
Bitcoin and altcoins saw a strong bounce off their respective support levels, a sign that traders are still buying on dips. Asset managers and companies currently hold over 6% of Bitcoin’s (BTC) circulating supply, according to Buy Bitcoin Worldwide. A breakdown of the data shows Bitcoin fund issuers and asset managers hold about 4% of Bitcoin’s supply, public companies account for nearly 1% and private companies own roughly 0.83% of the cryptocurrency’s supply. It's clear that institutional investors have continued to add crypto to their portfolios and Adam Proctor, the managing director....
At 17 years old, Louison Dumont is the youngest-ever entrepreneur to be accepted into Boost VC, the California incubator that has so far nurtured five batches of mostly bitcoin startups, but he's not short on experience. Having started mining bitcoin at the age of 13, Dumont boasts more maturity than many in the still-nascent industry (your correspondent included), peppering his conversation with signs of his veteran status and allusions to the tribulations of trading (most of his early bitcoins were unfortunately sold in the $20-$30 range). Dumont, for example, recalls a time when you....