A recent study conducted by “Get Living” – a real estate group – in remembrance of their 5th year anniversary clearly shows the interest of the Youths in the United Kingdom is gradually turning away from traditional forms of investment, most importantly properties, to virtual currencies.
At the end of the survey, a conclusion was drawn that 27% of the 21st-century menfolk are fascinated by the enormous profits that could be made trading/purchasing cryptocurrencies for long-term gains.
“The rollercoaster ride in value for Bitcoin has excited many millennials, with one in five seeing it as an appealing investment proposition compared with relatively slow-moving property values,” the survey reads. “For millennials, the soaring performance of Bitcoin – following by an almost equally profound correction – holds more intrigue than the prospect of steady growth in house prices.”
This is not farfetched as peer pressure grips the minds of many youths, making them sort for quicker and faster mediums to living life to the fullest as most of their friends do. Moreover, investing in cryptocurrencies are way more cheaper to purchasing properties. A $100 investment could yield in a 1000% profit in a short time compared to waiting for years to cash out on investment.
Other surveys conducted in the past also show that the young men are not alone in this endeavor, the women are also turning up in mass, investing as much as they can in the new asset class. This is most common among tertiary school students, with them using financial aids (student loans) in purchasing cryptocurrencies.
Could The Current Market State Change Their Minds?
Probably not, the youth seems to have their minds made on the goal of virtual currencies, in general, becoming either an asset class or a medium of exchange – replacing fiat. The notion is what has brought about a daily growth of youths investing in cryptocurrencies.
Uncertainties about the future of cryptocurrencies ain’t among the youths but the much older ones who fear to lose some or all of their investments. What’s more, different countries (such as India and China) or financial regulators have of recent made unfavorable decisions which have affected the market prices of various cryptocurrencies.