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Cardano (ADA) the fourth-largest cryptocurrency by market capitalization is turning out to be the best choice of investment for retail traders. This shift of interest from Bitcoin to other altcoins is because of the viability and modest pricing these tokens offer
With Bitcoin witnessing great price rallies and institutional support, the token has become an expensive investment now. Hence, the next best option for small-scale individual buyers is Cardano. As the growth and performance have been steady and good.
Digital Asset Investor Sentiment Survey
Crypto asset broker Voyager Digital conducted an online survey, the respondents of which were the traders with ‘ moderately active trader status’ on the Voyager platform.
The findings of the survey are an interesting and fresh take on investor sentiments, the majority of 31% of traders were bullish on Cardano, and 21% were bullish on Bitcoin.
It is also evident as to why Cardano is taking over on traders’ preference list, the token is not expensive, it has had exponential growth with minimal volatility, and it also soared to its new high of $1.48 recently.
Apart from Bitcoin and Cardano, the other tokens that took notice were Polkadot and Ethereum.
12% of traders were bullish on ETH and 6.3% on Polkadot.
The survey organizers and CEO Steve Ehrlich were also surprised to see Cardano take precedence over Bitcoin, they also mentioned that this survey is good confirmation for people’s increasing interest in crypto trading and investment.
ADA is trading at $1.12 currently with a market cap of $35.90 Billion.
Investors & traders’ take on Bitcoin.
The 21.5% of survey respondents that were bullish on Bitcoin, happen to reveal they expected Bitcoin to fall between 20%-40% in the bear market, and even further 6% of participants happen to believe the price could fall to 65%-90% in the next bear market.
Although 80% of existing Bitcoin investors are still willing to acquire more tokens as an addition to their holdings, according to the survey.