New BitFlyer Europe Survey Says Crypto Assets Are Safe In Next Decade But Bitcoin Will Be Topped
Crypto To Survive The Next Decade, Says A New Study
It is no secret that the crypto industry runs on speculation. The speculation usually has to do with the current and future price of bitcoin and other cryptos and even as these prices rise and fall over time, the speculation continues. While all financial markets are subject to some level of speculation, the crypto market is unique because it is a newer market and because it is more volatile than traditional financial markets.
However, a new study by bitFlyer Europe polled respondents about crypto and didn't make mention of price, but rather what they believe to be the future of bitcoin and crypto as a whole regards to their survival. 10,000 individuals took part in the poll and it was revealed that 63 percent believed that digital currency will survive into the future. While there is optimism the future of crypto, there is less so about bitcoin according to them as 55 percent believe that bitcoin will be around compared to the 63 percent that believes other cryptos will thrive.
A Crypto Future
Cryptocurrency has, in recent times, infiltrated every facet of human life from finance to healthcare to even education and the success of this is evident in the results of the poll in which 73 percent of respondents from Norway expressed optimism at cryptocurrency still existing in the next 10 years. This is significant because when crypto first emerged, was considered nothing but an internet fad that would die out within a few years. Obviously, this has proven to not be the case and one can only hope that this continues into the next decade as well.
“These results indicate that the reputation of cryptocurrency has moved beyond hype and become more established. It’s very easy to forget just how new cryptocurrencies still are; we’ve only just celebrated bitcoin’s 10th birthday, so for the majority of consumers to believe in crypto’s future is without a doubt an achievement,” said the bitFlyer COO.
The End Of Bitcoin?
While it is easy to get excited about the results of the poll regarding cryptocurrency as a whole, it is important to look at the responses that were given about bitcoin, in particular. 55 percent of respondents believe that bitcoin will exist in the next 10 years meaning some believe that it would have been taken over by other cryptos. As of now, it is hard to imagine such a future because bitcoin is the most dominant crypto in the world with on-bitcoin cryptos being collectively referred to as altcoins.
This is likely the effect of the scrutiny that bitcoin is subject to compared to other cryptos because of the volatility of the market.