Bank Of America Survey Reveals 90% of Respondents Plan to Buy Crypto in 2022

[92.eth]

Yeah it's true and from what I see most people really shouldn't at this point. Most people get sucked in, buy all the cheapest coins they can on coinbase and a couple doggie shit coins and then sit on their hands.

Those who have been playing the game for a couple years+ will tell you to buy bitcoin first then let the profits flow to Ethereum and then the coins that fall between high and low market capitalization rankings.

The way the market has performed you can buy almost any altcoin and experience an 80% correction to all-time highs and will make you wealthy as fuck in the coming months/years.

Jun 14, 2022 | Crypto Potato

The crypto winter seems scary, but according to a study by Bank of America, many people see it as an investment opportunity.

Many investors are already talking about how long this crypto winter could last. Still, according to Bank of America, most retailers are waiting for the ideal time to buy cryptocurrencies as soon as this year.

A survey of 1,000 people conducted in early June by Bank of America (BAC) found that 90% of respondents were preparing to buy cryptocurrencies within the next six months.
In addition, the study noted that the number of users who owned cryptocurrencies was similar to the number who wanted to buy. This means that the enthusiasm for cryptocurrencies is far from over, which some well-known crypto skeptic investors like Warren Buffett have pointed out on numerous occasions.

30% of Crypto Investors Want to HODL Their Tokens​

According to Bank of America, 30% of respondents said they had no intentions of selling their cryptocurrencies during the next six months despite the massive decline that the crypto market has suffered. Even so, acording to some analysts, the bearish trend is not over.
Jason Kupferberg, an analyst for Bank of America, said during an interview for CNBC that researchers obtained their data after the collapse of Terra’s LUNA coin and that the results were “interesting,” as they show a positive sentiment towards cryptocurrencies on the part of investors. However, he pointed out that people must be careful with the news because the FUD could provoke a more accentuated fall in the crypto market.

“I think today is an example of bad headlines and it wouldn’t be surprising to see another breakdown in the crypto stock and in the Bitcoin price itself.”

39% of Respondents Use Cryptocurrencies For Online Purchases​

Another interesting statistic is that 39% of respondents noted that they used cryptocurrencies as a means of payment for online purchases, which differs from the narrative of cryptocurrency enthusiasts who talk about these assets as a store of value in the face of inflation.

On that topic, Kupferberg noted that although there is not yet a high level of adoption, it is still possible to see an “increasing use of certain types of crypto-to-fiat products,” taking as an example the advantages offered by Coinbase’s VISA card.

As CryptoPotato recently reported, the Bank of America’s CEO said that BofA has no plans to enter the cryptocurrency market because it cannot do so due to current U.S. regulation, which does not authorize them to engage in activities involving cryptocurrencies. Of course, this may change in the future due to the high demand for crypto-related products and the precedent set by other banks in the U.S.

Bank Of America Survey Reveals 90% of Respondents Plan to Buy Crypto in 2022

The crypto winter seems scary, but according to a study by Bank of America, many people see it as an investment opportunity.

cryptopotato.com

 

[Lord SS]

BTC, SOL, XRP, ADA, XLM, LINK, ETH, ALGO, KDA, BNB, DGB

NFA AND DYOR.
💎👐 🤝

 

[SPHINCTERPUNCH]

Yeah it's true and from what I see most people really shouldn't at this point. Most people get sucked in, buy all the cheapest coins they can on coinbase and a couple doggie shit coins and then sit on their hands.

Those who have been playing the game for a couple years+ will tell you to buy bitcoin first then let the profits flow to Ethereum and then the coins that fall between high and low market capitalization rankings.

The way the market has performed you can buy almost any altcoin and experience an 80% correction to all-time highs and will make you wealthy as fuck in the coming months/years.

Jun 14, 2022 | Crypto Potato

Bank Of America Survey Reveals 90% of Respondents Plan to Buy Crypto in 2022

The crypto winter seems scary, but according to a study by Bank of America, many people see it as an investment opportunity.

cryptopotato.com

I wish I knew more about Cryptocurrency;When it first started up,I remember wanting to spend 2,500-5,000 on some Coins when they were Really/Really Cheap/But didn't! I don't even like thinking about it now;B'cuz it's a repetitious slap in My Fkn Face!!!🤬🤬🤬 My Fault!!!
SP

 

[92.eth]

I wish I knew more about Cryptocurrency;When it first started up,I remember wanting to spend 2,500-5,000 on some Coins when they were Really/Really Cheap/But didn't! I don't even like thinking about it now;B'cuz it's a repetitious slap in My Fkn Face!!!🤬🤬🤬 My Fault!!!
SP

We're still very early so you've got time. Watch for the next Bitcoin Halving, and the fed anticipating no cuts in interest rate until 2024 which I think puts the next Bull Run around 1st Quarter 2024. Not calling it but that's just what I see right now

 

[SPHINCTERPUNCH]

We're still very early so you've got time. Watch for the next Bitcoin Halving, and the fed anticipating no cuts in interest rate until 2024 which I think puts the next Bull Run around 1st Quarter 2024. Not calling it but that's just what I see right now

Interesting;Thanks;I'll keep My eyes Open! 🤘🏼🤟🤙...SP

 

[j.f.🔎]

I thought the only way to make money from crypto was to sell it to someone else for real money and people only try get you into it to get more real money into the market, so I'll just keep my real money.

 

[Blood_Sport]

So how doyou safely convert crypto money into folding money?

 

[Lord SS]

So how doyou safely convert crypto money into folding money?

Via good and secure exchanges like kraken, bitstamp, binance , coinbase, huobi, bitmex, okex. Or with some third party online wallets and swaps.

 

[92.eth]

I thought the only way to make money from crypto was to sell it to someone else for real money and people only try get you into it to get more real money into the market, so I'll just keep my real money.

Before I got into crypto I used to trade Forex and I always believed that if you can't do coke with it, it ain't real money so I dig

 

[Totentanz]

Dammit!
If only I had invested my money wisely instead of on strippers and blow.
If only...

 

[92.eth]

Dammit!
If only I had invested my money wisely instead of on strippers and blow.
If only...

and all those strippers have their wallets all set up

keep up

 

[whiteboyopie]

😟😟😟😟😟😟😟😟😟😟😟

Enjoy the current crypto freedom while you can.
It is over. The Feds have already started ownership by regulatory laws .
And a multitude of lawsuits ( XRP CRYPTO vs Dept of Treasury ) and others are sure to ensure the Feds will regulate crypto to its death.
The IRS last week began its intrusion. Mandating tax returns include any crypto exchanges.
Any currency with the ability to compete with the dollar will see its demise.

 

[Damo0666™️]

😟😟😟😟😟😟😟😟😟😟😟

Enjoy the current crypto freedom while you can.
It is over. The Feds have already started ownership by regulatory laws .
And a multitude of lawsuits ( XRP CRYPTO vs Dept of Treasury ) and others are sure to ensure the Feds will regulate crypto to its death.
The IRS last week began its intrusion. Mandating tax returns include any crypto exchanges.
Any currency with the ability to compete with the dollar will see its demise.

So the British pound will see its demise will it 🤷‍♂️🤦‍♂️ stupid comment

 

[92.eth]

😟😟😟😟😟😟😟😟😟😟😟

Enjoy the current crypto freedom while you can.
It is over. The Feds have already started ownership by regulatory laws .
And a multitude of lawsuits ( XRP CRYPTO vs Dept of Treasury ) and others are sure to ensure the Feds will regulate crypto to its death.
The IRS last week began its intrusion. Mandating tax returns include any crypto exchanges.

Regulation isn't a bad thing it's what leads to institutional cash flow it's actually what we want

Any currency with the ability to compete with the dollar will see its demise.

The dollar as world reserve currency is currently under question

The 4th Industrial Revolution is under way

idk my boy, to say I'm "Risk-on" is an under statement.

 

[Bansaku]

Crypto is a the modern day Amway or Avon, and suckers are buying into it.

 

[92.eth]

Crypto is a the modern day Amway or Avon, and suckers are buying into it.

If that's the case then short bitcoin to zero with leverage that way if you really think so otherwise you just sayin what everyone else does when they get liquidated

 

[DokraOwl]

If that's the case then short bitcoin to zero with leverage that way if you really think so otherwise you just sayin what everyone else does when they get liquidated

I don't think bitcoin is worthless but I don't think it's worth more than the cost of the electricity used to produce it, which is way less than its current price.

Bitcoin technology is also not designed to facilitate the number and speed of transactions required for it to work as a payment system on a global scale. There are better cryptos that can do this but they don't have the name recogniton like Bitcoin does.

Bitcoin Cash for example is better in every way than Bitcoin but nobody is buying into it because they don't know. I feel the average crypto investor knows very little details of the cryptocurrency they invest in and just follow a heard mentality when buying or selling. Either they all buy and send to the moon or they all sell and crash the crypto to zero in 24 hours.

 

[j.f.🔎]

Before I got into crypto I used to trade Forex and I always believed that if you can't do coke with it, it ain't real money so I dig

Yeah you can't sniff coke though coins.

 

[92.eth]

Bitcoin technology is also not designed to facilitate the number and speed of transactions required for it to work as a payment system on a global scale. There are better cryptos that can do this but they don't have the name recogniton like Bitcoin does.

Check out the Lightning Network and shoot someone an invoice for 1000+ sats and it'll knock your socks off. Anyway I suspect in the future every day people will not be making transactions at all with layer 1s there's just no need anyway

 

[Totentanz]

I don't think bitcoin is worthless but I don't think it's worth more than the cost of the electricity used to produce it, which is way less than its current price.

Bitcoin technology is also not designed to facilitate the number and speed of transactions required for it to work as a payment system on a global scale. There are better cryptos that can do this but they don't have the name recogniton like Bitcoin does.

Bitcoin Cash for example is better in every way than Bitcoin but nobody is buying into it because they don't know. I feel the average crypto investor knows very little details of the cryptocurrency they invest in and just follow a heard mentality when buying or selling. Either they all buy and send to the moon or they all sell and crash the crypto to zero in 24 hours.

I think the energy it takes to mine Bitcoin is a ridiculous waste.
And as the cost of energy is high, and getting worse, would that not make it more expensive to mine?
That alone makes it unsustainable.
Will Prob become another Tulip Economy bust.

Make money the old fashioned way and buy a politician!
Yes, the initial investment amount is a bit higher- but the access you get to an impending economy crash With a big heads-up alone makes it worth it.

Hell, we told our Senators about the coming Covid crises 2 weeks before the country as a whole was told in Jan 2020.
And you bet your ass they moved stocks away from places like the Hotel and Resort businesses and into places that make PPE equipment, Wal-Mart and Amazon in droves, even tho "technically" they aren't supposed to use info like that for personal enrichment. But they definitely do.

At least 4 Senators obviously moved millions themselves away from businesses that were later heavily affected.
And That's not counting Senators that flat up SOLD that info, or moved monies thru a 3nd party or Shell company.

And wouldn't you know it, the rich got tons richer thru the health crises. And no one really got in trouble. Just called out a little by the plebeians until the crises ballooned and it was every man for himself.

So buy a senator.
You won't regret it!

(Personally I still don't understand how our system has made it legal to give hundreds of thousands of dollars to our representatives.
You are obviously Buying Something for later).
Here, Money is considered Free Speech.
But that inherently means the rich have more free speech than the general population.
And since corporations are also considered "people," their "Free Speech" ALWAYS has more power than the average single individual.
It just seems really unfair and super shady at the least