A new survey from Portfolio.io, a retail crypto investment app that lets users create a cryptocurrency portfolio in just sixty seconds, has found that the wintry grip of the ongoing 2018 bear market has left investor sentiment at rock bottom. The survey also found that many still foster strong hopes for the future of the blockchain and cryptocurrency industry – with a majority of respondents saying that more user-friendly platforms were needed for crypto to reach mainstream adoption.
The state of mind of retail investors in the beleaguered cryptocurrency markets was today revealed by Portfolio.io, a fintech startup that aims to make cryptocurrency so accessible, users can create a complete cryptocurrency portfolio in just one minute.
The release of the survey results follows shortly after Bitcoin’s most recent sell-off, which saw it dip below $3,400 in the early hours of December 7, 2018, to reach a new 2018 low. While the short-term forecast is gloomy, many spectators are waiting on the sidelines to take advantage of deflated prices in anticipation of the return of a future bull market.
“The results of this survey are not surprising. While the industry has definitely matured and progressed at breakneck speed in 2018, the progress made did not reflect on the markets, since prices were deep into bubble territory at the end of last year,” said Bob Bogaert, Co-Founder of Portfolio.io.
“The current volatility and complexities of investing currently have only enhanced the disillusion that many are feeling.”
The results of the Portfolio.io 60-day survey, conducted since November 2018, revealed just how damaged user sentiment has become, almost one year since Bitcoin hit its all-time high of $20,000 in December 2017:
- 30.8% of respondents had abandoned the cryptocurrency scene, citing that the markets were too complex, or simply not worth their time anymore
- 41.7% of respondents agreed that an easy solution for shorting cryptocurrencies was high on their wish list of future developments
- 53.8% of respondents wished there was a way to trade in part of, or their entire cryptocurrency portfolio for real-world assets, such as on the stock markets
- 65.2% of respondents who had abandoned the cryptocurrency scene agreed that they would return when a more user-friendly platform appeared, making trading easier than it currently is
Portfolio.io, currently in beta access, allows users to select the coins they would like to hold using a simple sliding mechanism. Behind the scenes, the app finds the cheapest, most liquid exchanges to perform the trades.
Users can also choose automated trading strategies such as periodic rebalancing, which compares to an automated ‘sell high, buy low’ strategy, taking advantage of the volatility of crypt markets.
Portfolio.io’s mission is to make cryptocurrency more accessible than ever before while eliminating as much friction as possible. “Today, we are constantly taking feedback from cryptocurrency communities to create something that will have a real impact on adoption tomorrow” added Bogaert.
“Distributed ledger technology and digital assets have a bright future – now is the time to build the infrastructure to generate mass adoption. Our mission is a simple one: we want to make it ridiculously easy for the mainstream crypto enthusiasts to get engaged and discover this exciting new asset class for themselves.”
Portfolio.io is backed by SOSV, the global venture capital firm that helped BitMEX rise to the number one crypto trading platform in the world. Other investors include Chinaccelerator and Artesian Ventures. For more information about Portfolio, please visit https://portfolio.io/. For all general and media inquiries, please contact Bob Bogaert at +86 138-2748-9212 or email him at media@portfolio.io.
About Portfolio.io
Portfolio.io is a mobile and desktop application that lets users create a portfolio of digital assets in under sixty seconds without needing wallets, exchanges, or paying fees, providing easier cryptocurrency trading to mainstream crypto enthusiasts. It is the first product by Unitarity, Inc., an innovative fintech start-up incorporated in the United States and Australia. Unitarity was accelerated through Chinaccelerator in Shanghai and has received venture backing from SOSV and Artesian Ventures. For more information, please visit Portfolio’s website.
