BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Why Investment In Cryptocurrency Is Losing Popularity In The US

by BlockNews Team
October 7, 2022
in Crypto, Media, Social
A A
Why Investment In Cryptocurrency Is Losing Popularity In The US
1
SHARES
Share on TwitterShare on Reddit

More Americans are becoming less interested in investing in cryptocurrency. This is according to a survey done by Bankrate in September 2022.

The report revealed that only 29% of American investors between the ages of 26 and 41 are comfortable—a sharp decline from 49% in 2021.

Generally, comfort levels dropped in investors across all generational lines. But the decline was steepest among millennials.

Why Are Investors Losing Interest?

When you think of it, a decline in crypto confidence isn’t entirely surprising. The change comes at a time when the industry continues to struggle. 

Several investors can count the number of times they made huge losses instead of profits. For instance, in November 2021, about $2 trillion was wiped off the entire crypto market.

In a statement, the principal reporter at Bankrate, James Royal, described the situation as “the shine coming off bitcoins…Cryptocurrency is a high-risk game where you could lose most or all of your money, regardless of age.” 

“Given the massive cryptos decline in 2022, it’s little wonder millennials – indeed, all major age groups – have become less comfortable with it.”

Why Did Millennials’ Comfort Fall the Most?

The drop in millennials was the most surprising, considering the group was more open and connected to the new technology.

Gen Xers and baby boomers also lost faith in crypto. Baby boomers dropped from 21% in 2021 to 11% in 2022. Gen Xers dropped from 37% to 21%.

Wrong Perception

Royal explained that millennials had a false image of what crypto is. According to him, many young investors first thought crypto was like a lottery or get-rich-quick scheme.

“Many young investors don’t understand what they’re buying, but they can see they’re buying but can see the price going up, and so they want in,” said Royal.

He added that people should stop considering crypto as a traditional investment. This is because cryptocurrency is very volatile and subject to price fluctuations.

Experts advise you not to invest more money than you want to lose. There is no guarantee you will make a profit.

Misinformation

Bankrate’s report revealed that millennials and Gen Zs were taking financial advice from the wrong sources. Instead of listening to actual investors, younger groups were more open to getting information from social media, family, or friends.

A lot of misinformation caused younger crowds to believe that crypto will make them billionaires in the future. According to a survey by Harris Poll, many youths still do. However, everything seems to be going contrary to their high expectations.

“It’s more like buying an arcade token and hoping someone will pay you more later. For this reason, legendary investors such as Warren Buffet won’t have anything to do with cryptocurrency,” said Royal.

Despite this, a few people still have unwavering hope for cryptocurrency, believing that the industry is still new and will soon get on its feet. That when that time comes, they will be filthy rich.

Tags: Bitcoincryptoethereum
TweetShareShare

DON'T MISS THESE! HOT OFF THE PRESS

XRP at a Crossroads: Only Two Ways This Can Go
Crypto

XRP at a Crossroads: Only Two Ways This Can Go

June 20, 2025
Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?
Crypto

Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

June 20, 2025
Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire
Bitcoin

Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

June 19, 2025
SHIB Slides to Two-Month Low as Bears Eye Key Support Level
Crypto

SHIB Slides to Two-Month Low as Bears Eye Key Support Level

June 19, 2025
XRP at a Tipping Point: Breakout or Breakdown?
Crypto

XRP at a Tipping Point: Breakout or Breakdown?

June 19, 2025
Who Will Win the Layer 1 Crypto War? These Are the Chains to Watch Right Now
Cardano

Who Will Win the Layer 1 Crypto War? These Are the Chains to Watch Right Now

June 19, 2025
Load More

Related News

XRP at a Crossroads: Only Two Ways This Can Go

XRP at a Crossroads: Only Two Ways This Can Go

June 20, 2025
Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

June 20, 2025
Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

June 19, 2025
SHIB Slides to Two-Month Low as Bears Eye Key Support Level

SHIB Slides to Two-Month Low as Bears Eye Key Support Level

June 19, 2025
XRP at a Tipping Point: Breakout or Breakdown?

XRP at a Tipping Point: Breakout or Breakdown?

June 19, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.