The crypto market since its arrival has seen a heavy downpour of investors. The many things cryptos come with has made them a hot cake in the world of finance for some years now and investors can’t seem to get enough of them.
It will be almost impossible to give a precise figure when trying to know the number of crypto investors who are currently in the market. Yeah, the number is that large, only an estimate would be the ideal answer. There are currently over 34 million Bitcoin wallets alone, in existence, not to talk about the other cryptocurrencies.
Earlier this year, a report on a research by a London based cryptocurrency exchange suggested that the number of women going into crypto investment doubled from 6% to 13% over a six month period.
It seems the women in the millennial generation are also ready to get in on the crypto action as according to the research, one of every five women expressed a desire to invest.
The urge to invest is still very strong across the globe as no matter what happens to the crypto market, it still finds a way to come out strong. Despite these huge numbers, a large number of people would also love to get on the crypto train, in efforts to make some profits but are been kept on the sidelines due to fears of certain factors.
Some, the fear of crypto being a scam is their main perturbation, whiles others have doubt of almost everything about crypto. However, one major factor, driving fear into the hearts of many potential crypto investors is the extreme volatility of the market.
Cryptocurrencies can be said to be the most volatile asset is the world, a reason which many financial experts deem it unfit to be a valuable substitute to fiat currencies. The crypto market is so unpredictable that it could possibly produce or wipe out over millions of dollars with some few minutes.
Bitcoin, the largest cryptocurrency in the crypto market is a visible indicator of the market’s fear and volatility. The digital coin went from trading at $1,000 to its record high last year, when it traded around $19,000, before pluming to $6,000 in just a month and a half.
The coin has again been struggling for some time now, currently trading at $7,089 just a few days after it hit over $8,000, its high in over two months.
With market volatility being a thing here to stay, the value of the crypto market will continue to dangle. Sometimes, it will be good whiles at other times, things will just get worse. Market volatility has been a standing block to many potential investors, who are being held back by the fear of losing the money they intend to profit off it.