Recently, a survey has been conducted according to which about 30% of Americans have lost their interest when it comes to investing in cryptocurrencies or blockchain entities, and that is a gruelling number given the fact that everyone wanted to be in on the crypto action.

If it was all to be pinned down to one culprit, then it would have to be the bear market and the recent market corrections that have pushed the entirety of the crypto market towards the brink of becoming non-linear for the institutional investors and when these people lose interest in something the consequences for the pertaining financial market are significant.

The survey further added that 16% of the world population is backing off from crypto despite the reports of many analysts pointing towards a possibility that this kind of interest is only going to increase among people, but the bear market and market corrections have been a constant nuisance. In the US alone, nearly 26% of the population is all but ready to say goodbye to crypto and other such endeavours that are even remotely attached to blockchain technology. The Netherlands has received a 37% decrease in the public interest towards crypto, Ireland is sitting at 30%, and so on so.

According to professional analysts, it is believed that the rising interest within the crypto market was influenced by influencers and their tweets, social media interactions, and people posting about them becoming rich overnight by investing in crypto. This gave rise to a trend and opened doors of opportunities for the investors to make money, and even simpletons were dreaming about becoming millionaires, but in the long run, it all came crashing down.

The Popularity of Crypto in Africa

On a lighter note, you would be amazed to know that the African region is still very much pro when it comes to the idea of decentralization and cryptocurrencies, and they are still pursuing this sector actively. The search volume, as well as the trading volume, is only going up; it seems that the crypto boom has hit Africa after losing its audience in the rest of the world.