Poll: The escalation of investment in encrypted currencies in the region economy

The steady increases in Bitcoin and other digital currencies enhance the mutation between individual investors in encrypted currencies, where a large majority of them plan to invest more money in these currencies during this year, according to a survey conducted by the Administrative Consulting Company (strategic Andle) between 2500 investors in The United States, Germany, Saudi Arabia, the UAE and Turkey.

In each country, the opinions of 500 people with encrypted currencies were surveyed in their private governorates during last January and February.

And (Strategy Andle) is a consulting company affiliated with the International Audit Company (Price Waterhouse Copers) and in the average of the five countries. More than 87% of those surveyed are planning to conduct more encrypted currency purchases in the next 12 months.

The Germans are more careful

In comparison, German investors seem more cautious, as 75% of them said they intend to invest more money in digital currencies.

According to the poll, nearly half of the participants in Germany invested between one thousand and 10 thousand euros (10464.50 dollars) in Bitcoin and the like, and five other participants invested less than a thousand euros.

The price of Bitcoin has risen about 20 times over the past five years from less than 5 thousand euros (5232.25 dollars) after stagnation in the first stage of the Corona in the spring of 2020 to more than 92 thousand euros (96273.40 dollars).

https://www.youtube.com/watch?v=8q7sjeljawi

Last fall, the price decreased temporarily before the threshold of $ 100,000 exceeded last December.

Administrative consulting experts indicate that the market is still very volatile, and most of the investors whose views (strategies of Andcar) believe that the price of Bitcoin will continue to rise sharply, and German participants hope that the Bitcoin price will reach 136 thousand dollars by the end of the year.

The Bitcoin price at the time of writing this report is 96 thousand dollars, while the market value of the encrypted currencies combined is 3.16 trillion dollars, according to the Queen Market Cap platform.

Bubble

Economists and managers in the financial sector are still arguing about whether the cryptocurrency boom is just a speculative bubble; Unlike shares, cryptocurrency investments do not have any equivalent value in the form of a company that sells products or services, and unlike the euro or any local currency, there is no central bank for the state behind virtual funds.

Current currencies are digital funds, depending on a global computer network for decentralization, and does not require the presence of a central institution like the bank.