You can see Bitcoin’s price trends, by looking up its chart online. But why is Bitcoin moving?
Now that’s a good question. And, it’s one you can’t answer without a consumer panel.
Check it out.
Coinbase is the #1 trending app on the graph below. Downloads are up 144% in just 30 days.
But, here’s where things get interesting…
At the same time as this surge of new buyers came in – Bitcoin dropped 40% from $63,237 to $38,200. This may indicate that earlier buyers are selling their positions as new, smaller buyers come in.
So, is now a good time to buy Bitcoin?
Also, a good question.
To answer that, you’ll want more data. We were curious too. So, we started to slice the research by demographics — and here’s what we found. Millennials’ use of Coinbase is up 358% — in 30 days.
What’s that mean?
For starters, it means that younger generations are buying crypto like crazy. But, there’s more. When we sorted the data by 35+? We found far less… much fewer signs of purchases in the 35+ age range.
Well, you should know that…
Gen X and above hold 95% of all wealth.1
So, in spite of being the largest workforce, Millennials controlled only 4.6% of U.S. wealth through the first half of 2020. Which will likely impact market forces. Especially when it comes to Bitcoin.
So, here’s the million-dollar question.
Will Baby Boomers, who control 53% of that wealth1 choose to buy crypto — and if so, when? Take a look at Atlas Views to decide for yourself. Here’s a Free 7-Day Trial.