Despite the prevailing bearish state of affairs in the cryptocurrency market where bitcoin fell below the $4000 price point, cryptocurrency adopters are positive about bitcoin’s potential for growth and favour it over other forms of assets for long-term investment reveals Former U.S. Congressman Ron Paul’s survey on Twitter.
On Nov 15, Paul had posted a question to his followers on Twitter about how would they like to receive $10,000 if they had to keep it for ten years. Majority of the public voted for Bitcoin (50%), followed by gold (37%). US Treasury bonds were the third most popular asset (11%), while only 2% voted for US dollars.
Paul had conducted an identical survey in December 2017, and the results had been nearly the same with Bitcoin receiving 4% more votes than this time, and the US receiving the same percentage of votes.
The results of the survey show that Bitcoin is still in favour with people despite its falling price, which went down from $6371 on November 14 to $5648 November 15. The price of Bitcoin, at the time of writing this blog, is at $3974. At the prevailing price, Bitcoin has shed more than 80% of its value from its all-time high of over $20000 in December 2017.
A similar, more crypto-centric survey was conducted on Twitter by the founder and CEO of crypto investment and advisory business Onchain Capital, Ran NeuNer, which also reaffirmed the popularity of cryptocurrencies among people.
In NeuNer’s Nov 17, 2018 Twitter survey, the people were asked to choose their preferred form of investment from Bitcoin, Ripple, Bitcoin Cash Satoshi’s Vision and American Airline Miles, with a 10-year lock in period. 52% of the respondents chose Ripple, 39% picked Bitcoin, 7% went for American Airline Miles; only 2% were in favour of Bitcoin Cash Satoshi’s Vision.
Ripple has overtaken Ethereum in terms of market capitalization and become the second biggest cryptocurrency according to the data available on CoinMarketCap. According to Ripple’s CEO, Brad Garlinghouse, Ripple will become a significant tool for banks across the world as they embrace it for faster and more transparent cross-border payments. The crypto is trading at $0.35 at the time of writing this blog.
Bittoria is a cryptocurrency exchange which will enable cryptocurrency enthusiasts to trade in BTC, ETH, XRP and LTC with USD, EUR, GBP and CHF. The exchange will also roll out support for crypto-to-crypto transactions on the same platform soon. Stay tuned for updates!