2018's Bear Market Hasn't Dissuaded New Cryptocurrency Traders in South Africa – Bitcoinist.com

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2018's Bear Market Hasn't Dissuaded New Cryptocurrency Investors in South Africa - Bitcoinist.com

Whereas loads of people around the globe undoubtedly bought scared off after shopping for at all-time highs and subsequently watching the worth of their cryptocurrency holdings take a nosedive, one current survey in South Africa suggests the destructive penalties of early 2018’s bear market haven’t dissuaded the uninitiated from testing the waters. 


Nonetheless

South Africans who’ve but to spend money on cryptocurrency are nonetheless planning on investing within the younger market, based on the MyBroadband 2018 Cryptocurrency Survey.

As famous by the largest IT Web site in South Africa, 1,244 readers in April accomplished the survey in query —offering a stable pattern which precisely illustrates “the sentiment of tech-savvy South Africans in direction of cryptocurrencies.” As famous by MyBroadband:

Of the survey respondents who don’t personal or who’ve by no means owned cryptocurrency, virtually 50% mentioned they plan to spend money on a facet of cryptocurrency or crypto mining in 2018.

This group’s deliberate funding was damaged down as follows:

25% will spend money on cryptocurrency.

15% will spend money on cryptocurrency and crypto mining.

7% will spend money on crypto mining.

It is usually value noting that 78 % of respondents claimed to personal or have beforehand owned cryptocurrencies, and 53 % of all respondents haven’t any plans on getting into the market.

Highs and Lows

In the meantime, Bitcoin has confirmed to be a supply of safety for some South Africans.