The overall cryptocurrency sentiment is borderline depressive as of right now. Another major market dip has caused speculators to question their positions. Not everything is doom and gloom, according to a survey by SharesPost. The long-term expectations for Bitcoin and altcoins are still somewhat optimistic, despite current market conditions.
SharesPost Survey offers a Glimpse of Hope
There isn’t much to be positive about as a cryptocurrency holder right now. All markets face another big setback after a few days of solid upward momentum. This dip is not entirely unexpected, albeit the severity of it took a lot of traders by surprise. It is important to look toward the future when developments like these materialize.
The new survey by SharesPost shows there is still optimism among traders. Not outspoken jubilation, but rather a cautious hope for better things to come. Nearly six in ten July survey respondents indicate more capital will be allocated to cryptocurrencies. Buying the dip is a very common phrase in this volatile industry. A lower price point makes for a more appealing and affordable investment.
Bitcoin and Ethereum remain the long-term bullish cryptocurrencies. That is no real surprise either, as both currencies seem to offer a lot of potential in terms of payments and technology. Despite recent claims about Ethereum’s “inevitable collapse“, the SharesPost survey respondents remain confident. Long-term believers are not moved by such corrections and dips. Instead, they see a positive outlook over the coming 18 months.
Mainstream Adoption Struggles Remain
The second part of SharesPost’s survey touches upon the blockchain sentiment. Numerous companies explore potential use cases for distributed ledger technology. More importantly, many more companies aim to incorporate blockchain into their products and services in the coming years. Retail investors confirm their employers show a strong affinity toward blockchain-based ventures.
Although the long-term crypto expectations and blockchain adoption remain positive, mainstream traction is still years away. The SharesPost survey results confirm this trend at this time. Widespread adoption of Bitcoin and Ethereum seems rather unlikely to occur. Although nothing has been set in stone, no real changes are expected prior to or during 2020.
Surveys like these provide valuable insights into the minds of cryptocurrency and blockchain enthusiasts. Gauging retail investor sentiment is crucial for both industries. Both cryptocurrency and blockchain are beginning to show signs of maturity despite their “niche” status. Even so, there is still a very long way to go. Multiple years will elapse prior to all of the puzzle pieces falling into the right place.
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