Top Cryptocurrency Statistics and Trends in 2024 Forbes Advisor Australia – Forbes

Top Cryptocurrency Statistics

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According to Statista, trading volume in the entire cryptocurrency market reached a peak of $US3 trillion on Nov 8, 2021.

According to a Forbes Advisor survey conducted in the UK, 90% of respondents had heard of Bitcoin making it the most well-known cryptocurrency. Other familiar coins included:

According to a Forbes Advisor survey conducted in the UK:

Meanwhile, 24% of those who invest in cryptocurrency say they trust it more than traditional investments, while, according to the FCA in the UK, some 60% of crypto holders said that they were happy to trade in the cryptocurrency market despite it being unregulated.

Why Do People Invest in Cryptocurrency?

According to the same Forbes Advisor survey, there are a range of reasons why people invest in cryptocurrency:

In Australia, Statista found that the leading reason for investing in cryptocurrency was for portfolio diversification.

These are the reasons people got into crypto investing in the first place:

According to the UK Forbes Advisor survey, there are also a range of reasons why people have decided not to invest in cryptocurrency.

Crypto exchange app Luno conducted a survey that indicated 71% of Australians have less than a basic understanding of cryptocurrencies in 2023 (Luno).

A study conducted by the ASX on Australian investors in 2023 found the following:

The Forbes Advisors survey also asked investors how their crypto investments had performed in the last year:

In the UK, Forbes Advisor asked to what extent the recent cryptocurrency crashes have made people look at cryptocurrency in a more negative light:

Despite this sentiment from UK respondents, 31% of Australian investors intend to buy crypto in the next year, according to the ASX 2023 investor study.

This article is not an endorsement of any particular cryptocurrency, broker or exchange nor does it constitute a recommendation of cryptocurrency or CFDs as an investment class. Cryptocurrency is unregulated in Australia and your capital is at risk. Trading in contracts for difference (CFDs) is riskier than conventional share trading, not suitable for the majority of investors, and includes the potential for partial or total loss of capital. You should always consider whether you can afford to lose your money before deciding to trade in CFDs or cryptocurrency, and seek advice from an authorised financial advisor.

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Top Cryptocurrency Statistics and Trends in 2024 Forbes Advisor Australia - Forbes