Study Findings Show 83.7% of Luno Users Are Bullish on Bitcoin’s Resurgence

These are the findings of Luno’s Q3 Customer Sentiment Survey that was carried out between August 20 and September 20. A complete of 1,870 clients of Luno cryptocurrency trade from South Africa, Malaysia, Indonesia, and the U.Okay. participated within the examine.

Aside from bitcoin, examine contributors have been additionally requested to share their ideas in regards to the prospects of altcoins like ETH, XRP and BCH. As the examine findings counsel, many of the respondents throughout the 4 international locations are equally bullish on altcoins as properly.

South Africans Less Bullish on ETH

However, it could seem that Luno clients within the U.Okay. and Malaysia are extra bullish on such cryptos as ETH than their counterparts in South Africa. The trade’s weblog explains:

“While 64.5% of our South African customers are most optimistic about bitcoin, ethereum is second at 55.4%, adopted by XRP (28.6%), bitcoin money (25.9%) and litecoin (17.8%). Meanwhile, though Malaysian and British clients each share robust enthusiasm for bitcoin, they’re most optimistic about ethereum. Nearly 70% of Malaysian clients are feeling optimism for ethereum, with 75% of traders in Great Britain sharing the identical sentiment.”

Concerning clients’ understanding of cryptocurrencies as a long-term funding, the examine discovered that 38% of respondents intend to hodl their investments. While 28% of the respondents do take into account themselves day merchants, the weblog nonetheless concludes that “the thought of bitcoin as one thing you’re within the lengthy haul for appears to have definitely taken root.”

What are your ideas on the findings of this examine? Tell us what you assume within the feedback part under.

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John Lesley/ author of the article

John Lesley is an experienced trader specializing in technical analysis and forecasting of the cryptocurrency market. He has over 10 years of experience with a wide range of markets and assets - currencies, indices and commodities.John is the author of popular topics on major forums with millions of views and works as both an analyst and a professional trader for both clients and himself.

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