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SA prefers Bitcoin, Malaysia, UK prefer Ethereum

source-logo  thecoinrepublic.com 04 October 2021 16:16, UTC
  • Musk mentions his view on a debate between SEC and Ripple
  • Bitcoins price indicated a high respondent confidence in the market
  • Extensive polling and research have been conducted to study the spread of crypto in areas like Malaysia, the UK, etc

Elon Musk’s comments, Ripple vs SEC, China FUD, and other variables were cited in Luno’s survey report as having influenced the price of Bitcoin throughout the year. According to the survey results, while 64.5 percent of the South African consumers are bullish on Bitcoin, Ethereum comes in second with 55.4 percent, followed by 28.6% XRP, 25.9% of Bitcoin Cash, and 17.8% of Litecoin. 

However, the researchers made their point by saying that Ethereum was seen with the highest hope by 70 percent of Malaysian poll respondents and 75 percent of respondents in the United Kingdom. Overall, the study found that market mood was optimistic, with 38 percent of those polled planning to hold their coins. 

According to the extensive research, the respondents indicated a high level of confidence in the bitcoin price, with 59.4 percent believing it will continue to rise steadily toward $100,000. 

Cryptocurrency usage is expanding worldwide, especially in emerging economies, according to the Chainalysis study on crypto geo diversification for this year. Naturally, investors in various nations are optimistic about various cryptocurrencies owing to a variety of causes. 

Luno, a cryptocurrency platform, has conducted a poll of investors in Malaysia, South Africa, and the United Kingdom to better understand their perspectives on the industry. It also indicated which coins gave them the greatest hope. 

Although it may appear unusual to group these countries together, there is a reason for doing so. Both are developing economies with significant international ties and diverse cultures. South Africa is rated 16th in the 2021 Global Crypto Adoption Index, according to the Chainalysis study. 

It was ranked behind the Philippines but above the Russian Federation as a result of this. Malaysia was not among the top 20 nations in the Global Crypto Adoption Index when it came to cryptocurrency adoption. However, because of its cheap power prices, it has been highlighted as an ideal location for Bitcoin mining. Regulative limitations, on the other hand, continue to be a concern.

Tags: Bitcoin, poll, Respondents, Malaysia, crypto, cryptocurrency, South Africa, SEC, regulations, Global Crypto Index, Bitcoin price