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EU bitcoin poll reveals Europeans are bullish on crypto

Maya Mandz | Apr. 25, 2019
EU bitcoin poll reveals Europeans are bullish on crypto

April 25, 2019, | AtoZ Markets - A new survey, recently conducted by a cryptocurrency trading platform, has revealed that a high percentage of Europeans believe that Bitcoin will live for at least more ten years. bitFlyer, the organizer of the EU bitcoin poll of “do you think Bitcoin will still exist in 10 years’ time.”

EU bitcoin poll results revealed a positive attitude toward cryptos

The aforementioned poll results have shown that more than two-thirds of the Europeans are bullish on crypto (63 percent)  and believe cryptocurrencies will still exist by 2029.

Of the ten countries participating in the survey, residents of Norway showed the highest level of trust in cryptocurrencies, since 73 percent believe that virtual currencies will still exist in ten years.

Such results seem obvious against the background of Scandinavia's positive attitude towards digital assets. Just a few months ago Sweden announced that by 2025 it might become the first cashless nation. The country also announced its plans to launch the digital krona or e-krona as a new type of money that could replace physical cash or at least help calm the current cash conundrum.

However, respondents from France were less sure of the bright future of cryptos than Norwegians. Only 55 percent of French respondents expressed confidence that cryptos would serve the next decade.

Certain Europeans remain suspicious about bitcoin

Despite the fact that the Europeans were generally optimistic about cryptocurrency in general, they were less bullish on bitcoin. According to BitFlyer, the EU bitcoin poll included seven possible answers to the question "Do you think Bitcoin will still exist in 10 years?"

Only seven percent of the EU bitcoin poll participants expressed their belief in Bitcoin’s existence as a security or investment tool.

Only 49 percent of participants said they believed that Bitcoin would last a decade. Italy had the highest percentage of confidence in the Bitcoin future — 55 percent, while France was again behind with its 40 percent.

Commenting on the patterns observed in the result, Andy Bryant, the COO of bitFlyer noted:

The fact that Bitcoin is not generating as much support as other cryptocurrencies is in part a symptom of the market’s volatility but is also a direct impact of the constant media attention that is associated to its volatility.

EU bitcoin poll resembles the community’s mood about cryptos

In general, the results of the EU bitcoin poll correspond to the changing attitude toward the cryptocurrency, which is moving from advertising to the legitimate asset class. The recent IMF survey on Twitter showed that more than half of respondents believe that crypto would become mainstream in the next five years.

Moreover, since 2018 has grown the number of huge conglomerates interested in institutional participation in the cryptocurrency. Trust funds holding investment positions, IT, healthcare and logistics businesses seeking to create vital crypto services.

The crypto analysts believe that the next crypto-bull-run will appear against the background of an increased asset class compared to the speculative game that characterized the 2017 bull market. They point to the emergence of a reliable bitcoin market and technical fundamentals, as well as the decline of the ICO market.

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