Cryptocurrencies are decreasing in popularity among US investors. According to a survey conducted by Bankrate in September, by 2022, only 21% of Americans will feel comfortable investing in cryptocurrencies. This is down from 35% in 2021. This decline occurred during the so-called crypto winter.
Investor comfort levels have declined across generations, but have fallen the most among millennials. Nearly 30% of US investors between the ages of 26 and 41 feel more comfortable in 2022 compared to about 50% in 2021.
This drop is not surprising considering that nearly $2 trillion has been lost in the cryptocurrency market since November 2021. The price of popular cryptocurrencies like Bitcoin has struggled to hit all-time highs in 2021.
Every asset trader is a fan of profits, said James Royal of Bankrate. It’s no surprise that demand has dropped as major cryptocurrencies like Bitcoin and Ethereum have fallen more than 70% from their all-time high.
On Friday, September 30, 2022, CNBC reported that “Cryptocurrency price declines are not helping to attract more people to cryptocurrencies.”
Bitcoin has been trading between $18,000 and $25,000 since June, down from a high of over $65,000 in November 2021. The cryptocurrency is a highly volatile asset with unpredictable price fluctuations.
Financial experts usually advise against investing more money in cryptocurrencies as the profits are not guaranteed.
Disclaimer: All investment decisions are in the hands of the reader. Research and analyze cryptocurrencies before buying and selling. is not responsible for any gains or losses arising from investment decisions.
Earlier this month, the Fed’s new supervisor, Michael Barr, said stablecoin regulation was the central bank’s top priority.
In his first political speech since the Fed took office in July, Barr added that the Fed would work to oversee cryptocurrency activity to protect users and the financial system.
“We plan to ensure that the cryptographic activity of the banks we monitor follows the safeguards necessary to protect the security of our banking systems and that of our customers,” Barr said.
“Banks that engage in cryptocurrency-related activities must take appropriate steps to manage the risks that arise associated with these activities and comply with all applicable laws, including those related to money laundering,” Barr said.
Barr also noted that cryptocurrency activity inside and outside the bank needs scrutiny to ensure that people are fully aware of the risks they face, noting that important innovations like cryptocurrencies do not outperform risk management.
“In a rapidly growing and volatile market, as we saw with the growth of crypto assets,” Barr explains, “participants think they understand a new product and find they don’t,” explains Barr.
List of stablecoins
Barr said the Fed will work with other regulators to ensure crypto transactions are properly regulated regardless of the technology used.
When it comes to stablecoins, Barr says that tokens should be regulated because private funds are historically unstable.
Although Barr said regulating stablecoins was his priority, he stopped short of making recommendations and urged Congress to quickly pass legislation to regulate stablecoins.
Previously, the price of Bitcoin and other cryptocurrencies was still moving in the red zone on Saturday (10 January 2022). However, Bitcoin and Ethereum prices tend to be somewhat bearish.
As of the morning of Saturday, October 1, 2022, Bitcoin (BTC) has been again bearish for the past 24 hours, according to CoinMarketCap data. Bitcoin (BTC) was down 0.40% to trade at $19,399.62, or about 296.97 million rupees (assuming an exchange rate of 15,309 rupees per US dollar). However, Bitcoin price rose 1.3% last week.
Likewise, the price of Ethereum. The price of Ethereum (ETH) has fallen 0.16% in the last 24 hours. Ethereum is priced at 1,328.89 USD or around Rp. 20.33 million. Ethereum price rose 0.74% last week.
The price of the BNB coin has also been in the red in the last 24 hours. However, a slight correction in the BNB price was 0.18%. Last week, BNB prices rose 2.47%. The current price of BNB is $283.53 (approximately Rp.4.32 million).
The price of XRP has decreased slightly in the last 24 hours. XRP price is down 0.04%. Last week, the price of XRP fell 5.86%. The current price of XRP is $0.4744.
Cardano (ADA) prices have fallen 0.85% in the last 24 hours. Last week, ADA prices fell 6.3%. Cardano is now priced at $0.4334.
Likewise with the price of Solana (SOL) which is red. The price of Solana (SOL) has fallen 2.79% in the last 24 hours. Last week, Solana’s price fell 2.28%. Currently, the solana is priced at $33.
Meanwhile, the price of Dogecoin (DOGE) has risen 2.35% in the last 24 hours. However, over the past week, the price of Dogecoin has fallen by 7.1%. The current price of Dogecoin is $0.6194.
Stablecoins like Tether have fallen in the last 24 hours. Over the past week, the price of rope (USDT) has been in the green. Currently the price of the rope is in the position of 1.00 USD.
The US Dollar (USDC) price has been in the red for the last 24 hours. USDC prices are down 0.01%. The US dollar fell 0.02% last week. Currently, the USDC price is at 0.9998 USD.
Similarly, the price of Binance USD (BUSD) has been in the red for the last 24 hours and last week. The price of BUSD is 1 USD.