Tough times. New data from a Pew Research Center survey has shown that 46% of adult cryptocurrency users in the United States are seeing lower than expected returns on their crypto investments.
Source: Pew Research Center
Massive institutional adoption, growth in altcoins, easier access to cryptocurrency trading and celebrity endorsements were all cited as possible reasons for the huge spike. However, most people who jumped into the crypto market during the 2021 boom are likely to be feeling the pain now, with Bitcoin plummeting over 69% from its ATH to $21,403 and Ether falling 66% from its ATH to $1,640.that nearly half of their more than 700 Baby Boomer and Generation X clients from all over the world already own cryptocurrency or are planning to buy it before the end of 2022.
DeVere Group CEO and founder Nigel Green believes most people born between 1965 and 1980 are investing as “part of a wider retirement planning strategy.”However, he also cautioned anyone from investing in crypto without first seeking professional advice, “As this year has proven again, the crypto market remains known for its volatility.“
“Therefore, retirees or those on the cusp of retirement need to bear this in mind and not over-commit, as this could put the wider retirement strategy in jeopardy.”
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