Young people interested in BTC, why will this increase its value?

Young people interested in BTC, why will this increase its value?

By Roberto D. | CryptoFarm | 9 Aug 2020


Investors are increasingly turning their attention to "hard assets" such as gold and Bitcoin to protect their capital from inflation resulting from the massive surge of money in economic systems, resulting from the actions already deliberated by central banks in the middle. world.

This interpretative approach has likely pushed the price of gold to a new all-time high of over $ 2,000 per ounce, and is driving many new traders to Bitcoin.


However, there is even more interesting news that runs the risk of being "lost" within the numbers. According to a recent note from a group of JPMorgan analysts, in fact, there is a rather important generation gap between investors who turn to Bitcoin as a "safe investment" and those who buy gold.

The study notes that while young investors are pouring into Bitcoin with increasing insistence, older investors still have a propensity towards buying the more traditional precious metal.

While Bitcoin still remains well below its 2017 highs of (nearly) $ 20,000, the cryptocurrency is beginning to form a strongly bullish market structure that some analysts believe will lift it significantly for the rest of the year. .

Considering that BTC continues to grow increasingly correlated with gold, this could also be enough to provide the digital asset with a certain upward momentum, confirming its status as a "safe haven". But will the generation gap be bridged or not?

The team of analysts said:

"The two cohorts show a divergence in their preference for" alternative "currencies ... Older cohorts prefer gold, while younger cohorts prefer Bitcoin"

which also explained how younger investors view BTC as an alternative currency to the US dollar.


“The simultaneous flow support has caused a change in the correlation pattern between bitcoin and other asset classes, with a more positive correlation between bitcoin and gold, but also between bitcoin and the dollar, as American millennials see bitcoin as an 'alternative' to the dollar "

analysts explained. Now, given that younger generations are starting to account for a larger share of the world's wealth, they could be one of the biggest sources of future cryptocurrency growth.

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What do you think of it? Thanks to this flow of capital destined to increase towards Bitcoin, the price will benefit, or will everyone go to sell leaving the situation unchanged? Let me know yours in the comments. Thanks if you have read this far and see to the next!

 


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Roberto D.
Roberto D.

Born, and still living, in Italy. Passionate about cryptocurrencies since I discovered ethereum in 2016 Telegram channel: https://t.me/freewaystoearn


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