BlockNews
FOLLOW ON X
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • SUI
    • CHAINLINK
    • LITECOIN
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • OPINION
No Result
View All Result
BlockNews
Home CRYPTO

Why Investment In Cryptocurrency Is Losing Popularity In The US

BlockNews Team by BlockNews Team
October 7, 2022
in CRYPTO, MEDIA, SOCIAL
Reading Time: 3 mins read
1
SHARES
14
VIEWS
Share on XShare in TelegramShare on Reddit

More Americans are becoming less interested in investing in cryptocurrency. This is according to a survey done by Bankrate in September 2022.

The report revealed that only 29% of American investors between the ages of 26 and 41 are comfortable—a sharp decline from 49% in 2021.

Generally, comfort levels dropped in investors across all generational lines. But the decline was steepest among millennials.

Why Are Investors Losing Interest?

When you think of it, a decline in crypto confidence isn’t entirely surprising. The change comes at a time when the industry continues to struggle. 

Several investors can count the number of times they made huge losses instead of profits. For instance, in November 2021, about $2 trillion was wiped off the entire crypto market.

In a statement, the principal reporter at Bankrate, James Royal, described the situation as “the shine coming off bitcoins…Cryptocurrency is a high-risk game where you could lose most or all of your money, regardless of age.” 

“Given the massive cryptos decline in 2022, it’s little wonder millennials – indeed, all major age groups – have become less comfortable with it.”

Why Did Millennials’ Comfort Fall the Most?

The drop in millennials was the most surprising, considering the group was more open and connected to the new technology.

Gen Xers and baby boomers also lost faith in crypto. Baby boomers dropped from 21% in 2021 to 11% in 2022. Gen Xers dropped from 37% to 21%.

Wrong Perception

Royal explained that millennials had a false image of what crypto is. According to him, many young investors first thought crypto was like a lottery or get-rich-quick scheme.

“Many young investors don’t understand what they’re buying, but they can see they’re buying but can see the price going up, and so they want in,” said Royal.

He added that people should stop considering crypto as a traditional investment. This is because cryptocurrency is very volatile and subject to price fluctuations.

Experts advise you not to invest more money than you want to lose. There is no guarantee you will make a profit.

Misinformation

Bankrate’s report revealed that millennials and Gen Zs were taking financial advice from the wrong sources. Instead of listening to actual investors, younger groups were more open to getting information from social media, family, or friends.

A lot of misinformation caused younger crowds to believe that crypto will make them billionaires in the future. According to a survey by Harris Poll, many youths still do. However, everything seems to be going contrary to their high expectations.

“It’s more like buying an arcade token and hoping someone will pay you more later. For this reason, legendary investors such as Warren Buffet won’t have anything to do with cryptocurrency,” said Royal.

Despite this, a few people still have unwavering hope for cryptocurrency, believing that the industry is still new and will soon get on its feet. That when that time comes, they will be filthy rich.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: Bitcoincryptoethereum
TweetShareShare
BlockNews Team

BlockNews Team

DON'T MISS THESE! HOT OFF THE PRESS

Here is What Aave’s CEO Just Revealed About the Q4 2025 Upgrade
CRYPTO

Here is What Aave’s CEO Just Revealed About the Q4 2025 Upgrade

September 17, 2025
How to Go From Zero to Your First Profitable Trade in Crypto (2025)
BITCOIN

How to Go From Zero to Your First Profitable Trade in Crypto (2025)

September 17, 2025
What Happened in Crypto Today? – September 17: Fed Interest Rate Decision, Bullish DOGE and LINK News
CHAINLINK

What Happened in Crypto Today? – September 17: Fed Interest Rate Decision, Bullish DOGE and LINK News

September 17, 2025
What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight
CRYPTO

What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight

September 17, 2025
Here is Why Experts Predict a 40X Rally for Pepe Coin After $25M Whale Outflow
CRYPTO

Here is Why Experts Predict a 40X Rally for Pepe Coin After $25M Whale Outflow

September 17, 2025
Here is Why SUI Could Soar 200% on Google Cloud Partnership and ETF Buzz
CRYPTO

Here is Why SUI Could Soar 200% on Google Cloud Partnership and ETF Buzz

September 17, 2025
Load More

Related News

Here is What Aave’s CEO Just Revealed About the Q4 2025 Upgrade

Here is What Aave’s CEO Just Revealed About the Q4 2025 Upgrade

September 17, 2025
How to Go From Zero to Your First Profitable Trade in Crypto (2025)

How to Go From Zero to Your First Profitable Trade in Crypto (2025)

September 17, 2025
What Happened in Crypto Today? – September 17: Fed Interest Rate Decision, Bullish DOGE and LINK News

What Happened in Crypto Today? – September 17: Fed Interest Rate Decision, Bullish DOGE and LINK News

September 17, 2025
Jerome Powell October Rate Decision Outlook: What to Expect and How it Will Effect You

Jerome Powell October Rate Decision Outlook: What to Expect and How it Will Effect You

September 17, 2025
What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight

What is Arbitrum? Why ARB is an Underpriced Crypto Gem Hiding in Plain Sight

September 17, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews is your premier source for real-time cryptocurrency, blockchain, political and financial market news.

Stay ahead of the herd with BlockNews

RESOURCES

  • About Us
  • Contact Us
  • Editorial Policies
  • Terms and Conditions
  • Privacy Policy
  • Sitemap

DISCLOSURES AND POLICIES

BlockNews provides independent reporting on crypto, blockchain, and digital finance. Content is for informational purposes only and does not constitute financial advice. Sponsored material is always disclosed. By using this site, you agree to our Terms and Conditions and Privacy Policy.

© 2025 BlockNews

No Result
View All Result
  • HOME
  • BITCOIN
  • CRYPTO
    • ETHEREUM
    • RIPPLE XRP
    • SOLANA
    • CARDANO
    • BINANCE BNB
    • DOGECOIN
    • TRON
    • LITECOIN
    • CHAINLINK
    • SUI
  • MEMECOINS
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2025 BlockNews