2024-04-03 08:31:00 ET
With the price of Bitcoin (CRYPTO: BTC) touching new highs and the return of meme coin mania, it's perhaps no surprise that a greater number of people than ever before are planning to buy crypto. According to The Motley Fool Ascent's 2024 Cryptocurrency Investor Trends Survey , a record 43% of respondents said they were either "likely" or "very likely" to invest in crypto this year.
With all of this new money flowing into crypto, the natural assumption is that crypto prices will push even higher and Bitcoin will continue to set new all-time highs. But is that really the case? There are two warning signs within the survey data that suggest the impact may not be as great as most people think.
While the new spot Bitcoin exchange-traded funds (ETFs) have been successful by just about every important metric, there's one area where they haven't had a real impact -- attracting new, first-time investors to crypto. Within The Motley Fool Ascent's 2024 Cryptocurrency Investor Trends Survey, it's possible to break down the data according to people who have previously owned crypto and people who have never owned it -- and that's where the first warning sign occurs.
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43% of Survey Respondents Say They Plan to Buy Crypto in 2024. Will This Record Amount Drive Prices Even Higher?