Boomers and Gen-X Double BTC Holdings in Lockdown World
Bitcoin was a more popular investment amongst younger age groups in the early stages of its existence, however research may be showing that more senior investors are beginning to turn to the leading cryptocurrency.
Banking app mode said that BTC investments had been growing every month since February amongst the Baby Boomer and Generation-X age groups. Both groups invested 2.2x more in March than they did in February, 4.5x more in April and a whopping 8.88x more in May.
It’s clear that this behaviour is being driven by the economic turmoil enforced by the lockdowns. Boomer investors may be fearful of the banking system and are looking for alternatives to the stock market for gains. The lockdowns have also given us much more time to research investments, with many workplaces closed and employees working from home.
Litecoin Testing $40.00 as Market Demand Slips
Litecoin was testing $40.30 and looks sure to go through the round number as demand dipped in the crypto market. This is being driven by similar action in Bitcoin, with the latter dropping below $9,000.
This action is just a signal that the bears are winning in the short-term. Crypto enthusiasts are pot-committed in both LTC and BTC, so it will need some form of catalyst to push them higher from here. LTC has the coming upgrade, while both could benefit if the financial system takes another turn for the worse after the recent government bailouts.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.