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bitcoin may still be a long way from its past peak, but public awareness of the leading cryptocurrency is at an all-time high – especially in England.

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What, You’ve Never Heard of bitcoin?

Finding someone who’s never heard of bitcoin is quite the rarity these days.

93 percent of people in the United Kingdom have now heard of the formative cryptocurrency — up 2 percent from January 2018 and up 13 percent from November 2017.

The numbers come from D-CYFOR, an opinion tracker which delivers insights into markets. brands, people, and society.

D-CYFOR not only measured whether or not the general public had heard of bitcoin but also its attitude towards the volatile digital asset.

As noted by London Loves Business, 56 percent of respondents claimed that they wouldn’t invest in bitcoin, even if the government was to regulate the country’s cryptocurrency exchanges. On the other hand, 33 percent claimed they’d be “more likely” to invest in bitcoin or other cryptocurrencies if the government were to lay down the law.

Potential regulation aside, the general public is far from bullish on bitcoin. 32 percent of respondents stated that they expect bitcoin to decrease in value over the next six months, while another 29 percent are waiting for the cryptocurrency to fall to zero — both of which are higher than when asked the same questions in November 2017, when the cryptocurrency market was engulfed in euphoria and dreams of getting rich overnight.

The opinion tracker also revealed how long Britain’s hodlers are planning on hodling. Reports London Loves Business:

Of those that have already invested in bitcoin, 50 per cent say they plan to keep their investment for under a year. 22 per cent say for more than 5 years and 28 per cent say they don’t know.

D-CYFOR’s results also illustrate a general distrust in the Bank of England — or, at least, in the idea of the institution launching its own Sterling-backed digital currency. 60 percent of respondents claimed they would not support such a move, while 53 percent of millennials said they would.

How long do you plan on hodling bitcoin? Do you think the general public’s sentiment will shift more positive in the future, or trend towards negativity? Let us know in the comments below!

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Images courtesy of AdobeStock, Reuters, Wikimedia Commons

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Published at Thu, 19 Apr 2018 04:30:12 +0000

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