Confidence in crypto remains strong despite bear market: Bitstamp survey

The ongoing cryptocurrency winter has had no effect on global trust in crypto, according to a new study commissioned by the Bitstamp exchange.

Despite the market’s lows, global confidence in cryptocurrencies like Bitcoin (BTC) remains largely unshaken, Bitstamp said in its latest Crypto Pulse report. The study is based on a survey conducted by an independent research firm and involved 28,000 retail and institutional investors in 23 countries, Bitstamp said.

According to the survey, the percentage of global retail investors who trust crypto fell from 61% in Q1 to 65% in Q2 2022. % in Q1

“Given that we are entering a crypto winter in Q1, these numbers are encouraging and support the industry’s resilience,” Bitstamp analysts said.

The percentage of trust in crypto varies from country to country, with the United States seeing the largest increase in trust, from 61% in Q1 to 73% in Q2, the report said. In contrast, Canada was the only country to see cryptocurrency trust below 50% in Q2. Trust in crypto also remains high in countries such as Brazil, Chile, and Mexico, with trust percentages of 77%, 69%, and 70%, respectively.

“We can see that crypto has maintained the confidence of many investors and institutions around the world, for the most part, in a difficult time for the sector,” Bitstamp said. Meanwhile, the company said that some changes in confidence are definitely expected in certain countries.

Although confidence in crypto has slightly decreased in some regions, investors are taking this time to increase their investment or expand their knowledge about crypto. We believe that improving the market’s knowledge of the digital assets ecosystem is a step in the right direction.

Bitstamp CEO JB Graftieaux added that crypto winter provides an opportunity for retail and institutional investors to build for the future.

Related: 62% of Wallets Didn’t Sell Bitcoin for a Year Amid Bear Market: Data

As previously reported by Cointelegraph, the current bear crypto market is linked to the ongoing cryptocurrency lending crisis, with lenders such as Celsius ceasing to issue funds amid liquidity issues in June. After the TerraUSD Classic (USTC) stablecoin lost its peg to the United States dollar in May, the crypto winter has largely been linked to algorithmic stablecoin issues.