Data indicates that there is intense change in investor demographics and also financial power could impel BTC price to better thrills.
Bitcoin is growing, over a month and is being surpassed by various other altcoin similar to Ether and Chainlink. November 2018, the cryptocurrency has also smashed the deepest level of volatility.
Also, Bitcoin’s trading quantity in it’s USDT and USD pairs has reduced by 56% and 44%, while global crypto trading quantities in June are down by 49.3% as well, according to CryptoCompare.
Extent some point to these key factors as the onset of a downtrend in Bitcoin price, there are however limited bullish strategies to watch out for. A recent announcement by Stack Funds establishes that a shift in investor demographics may quickly bring the price of Bitcoin to new highs.
Manipulating data from Coindance, the announcement found that 50% of Bitcoin investors are millennials. Given that wealth transfer between productions is happening at a rapid rate, Stack Funds speculates millennials’ newly-found economic freedom may oversee this newer generation of investors to put heavy buy strength on Bitcoin.
The report reads:
“As the millennial generation enters into the peak age of investment maturity, we believe this tech-savvy group would propel the significant shift in investors demographics, in turn, increases the propensity of bitcoin investments.”
Are Boomers buying Bitcoin?
The announcement also points to prospering interest in Bitcoin and digital assets among other eras, a phenomenon which can distant cement Bitcoin’s position as an investment asset class.
According to the report:
“In our conservations with investors, we noted that part of this buying pressure reflects parents from gen X and baby boomers who are looking to invest long term for their children’s future.”