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Study: Bitcoin and Dogecoin Are the First Investments for 45% Of Young Britons

Nearly half of the UK residents aged between 18 and 29 admitted that their first investment was in digital assets. However, more than 50% of the youngsters used debt to purchase cryptocurrencies. Crypto Is Attractive to The Young Britons A recent poll conducted by Opinium for the investment platform Interactive Investor revealed that 45% of…

Nearly half of the UK residents aged between 18 and 29 admitted that their first investment was in digital assets. However, more than 50% of the youngsters used debt to purchase cryptocurrencies.

Crypto Is Attractive to The Young Britons

A recent poll conducted by Opinium for the investment platform Interactive Investor revealed that 45% of 18-29-year-olds in the UK dived into the crypto market as a first-time investment in their lives.

Out of all digital assets, bitcoin is by far the most popular among the youngsters as more than 20% of them invested in it. Dogecoin, a “meme coin”, is another popular cryptocurrency.

However, 56% of the participants admitted that they had taken on debt to fuel their bitcoin purchases. 23% of the attendants used their credit cards to allocate funds in the digital asset, while 17% went for student loans. A further 16% employed another type of loan.

Myron Jobon, a personal finance advocate at Interactive Investor, described this percentage as disturbing:

“Young adults using credit cards, student loans and other forms of debt to invest is a worrying trend.”

He warned the children that huge debts could affect their credit scores and cause financial difficulties later in life .”

Speaking of the long-term period, 20% of the attendants revealed that they would store their savings in cash over a 10-year period. Crypto ranked second with 16%, while investment in shares placed third with 14%.

1/3 UK Crypto Investors Check their Balances Every Day

The British people seem to have boosted their interest in cryptocurrencies as recent research revealed that about 78% of adults have heard of digital assets. Virtual currencies are owned by nearly 2.3 million people.

It is important to note that the perception of crypto by UK citizens has changed significantly. The majority of UK residents no longer view cryptocurrencies as speculative investments but as an investment option or alternative to traditional investments. As a matter of fact, last year, 38% of the people compared the crypto market to gambling, while the percentage nowadays has dropped to 9%.

Interestingly, the number of investors who check their balances daily increased to 29% – more than double from 13% in 2020. The majority of Brits are bullish for the long term. The survey revealed that nearly 50% of cryptocurrency hodlers plan to increase their exposure trusting that “they’ll make money at some point.”

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DOGE Soars 6 Percent, BTC Stuck At $17K Despite Low Trading Volumes (WeekendWatch)

Because it happens on weekends, trading volumes have dropped, which means that there are very few price movements for BTC. Most altcoins have a similar situation, with some exceptions. Dogecoin is one of them after a 6% daily rise. Bitcoin Boring at $17K Last weekend was quite dull in terms of price actions, and BTC…

Because it happens on weekends, trading volumes have dropped, which means that there are very few price movements for BTC.

Most altcoins have a similar situation, with some exceptions. Dogecoin is one of them after a 6% daily rise.

Bitcoin Boring at $17K

Last weekend was quite dull in terms of price actions, and BTC spent most of it around $16,500. Monday started with a price drop towards $16,000, but the bulls intercepted the move and didn’t allow any further declines.

More volatility was to be expected mid-week, when Jerome Powell, the US Fed Chair, announced the latest interest rates hike and the country’s employment report on Friday.

However, both events didn’t offer much price action , like previous occasions. Bitcoin remained relatively calm at around $17,000, except for a price pump above that level to chart a two-week high.

As the current weekend approached and arrived, BTC stood at $17,000 and has remained there. The trading volumes are down once more. Bitcoin’s market cap is still under $330 billion, while its dominance over the alts is at 38.3%.

DOGE Jumps 6 %

Most altcoins are following BTC’s weekend performance, but with very few substantial movements.

Ethereum has lost around 1% of value in the past 24 hours and has dumped towards $1,250. Binance Coin and Ripple, Cardano. Polygon. Polkadot. Shiba Inu. Litecoin are all at the same level as yesterday.

Dogecoin, the only exception to the larger-cap alts, is up by 6%. The OG memecoin trades at $0.1 and is up by 6% per day.

CELO and NEXO have also gained impressive percentages daily, up by 16% and 10%, respectively.

Overall, though, the crypto market cap has remained at the same place at $855 billion on CoinMarketCap.

Cryptocurrency Market Overview. Source: Quantify Crypto

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Dogecoin jumps 9%, Fantom explodes 15% (MarketWatch)

Bitcoin dipped to $16,000 yesterday for the first time in about a week but bounced off and recovered a few hundred dollars. Some altcoins outperformed BTC though, such as Dogecoin and Litecoin. Bitcoin Touched $16K Last week saw a violent price drop from bitcoin that drove it from $16,500 to a two-year low of $15,500…

Bitcoin dipped to $16,000 yesterday for the first time in about a week but bounced off and recovered a few hundred dollars.

Some altcoins outperformed BTC though, such as Dogecoin and Litecoin.

Bitcoin Touched $16K

Last week saw a violent price drop from bitcoin that drove it from $16,500 to a two-year low of $15,500 in a few days. BTC was pushed north by the bulls who reacted to this fall. The asset jumped above $16,000, and even tried to challenge $17,000 by the end of the working week but to no avail.

The weekend was marked by a lack of volatility. Similar to the previous one, bitcoin calmed and stood around $16,500 for almost all of it.

The situation changed on Monday when the cryptocurrency dipped toward $16,000 and eventually touched that round-numbered line as reports claimed that minors are close to capitulating.

BTC reacted well at this point, though, and bounced off to its current level of approximately $16,500. This came amid on-chain analysis suggesting that smaller bitcoin investors had accumulated massive portions following the FTX saga.

FTM and DOGE, LTC Stand out

The alternative coins went through some notable price drops yesterday, especially Solana, Binance Coin, and Litecoin. However, the landscape is quite different now.

After dropping by 6% 24 hours ago, LTC has jumped by 6.6% now and trades above $75. Remember that LTC reached a six month peak last week.

BNB has reclaimed $300 following a 3% increase on the day. Cardano and Polkadot, Cardano, Polygon and Shiba Inu are all slightly greener than the larger-cap alts.

Dogecoin is the best performer from the top 10. DOGE has risen 8.5% to $0.1.

Fantom’s native token has soared the most from the top 100. FTM has added approximately 15% of value in a day and trades north of $0.2.

The crypto market cap has regained $15 billion since yesterday and stands at $835 billion now.

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