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Can Cryptocurrencies Affect Relationships?

Americans claim that cryptocurrencies made a “negative” effect on relationships.

Apparently, talking about the crypto world all the time can lead to strained relationships.

Latest survey says that 60% of US investors claimed a decline in the quality of their personal relationships ever since being involved in crypto.

The findings were fresh, and this indicates that money is not basically leading to happiness.

Crypto promotes breakups

The study surveyed 1,000 Americans that delved into the demographics, outlooks for a long-term, and the social status of investors.

One interesting part of the survey was about the relationships and cryptocurrencies. It found out that 60% of the investors found their interest in the crypto world to lead in the wrong way among friends and family. It has been stated that involvement in the crypto world has a “negative” impact.

Some tech experts explained why the results came out like that.

“With countless stories of people selling homes and businesses to invest in crypto and the sheer polarizing nature of the topic, perhaps it’s not surprising that so many crypto investors have experienced strain on their personal relationships.”

Tasmina Sayed, author of the report

Other tech experts agreed with Sayed, but another mentioned different factors on why the survey resulted that way.

“The stress on relationships could come from a number of fronts.”

Jeffrey Halley, senior market analyst at Oanda Asia-Pacific Pte.

She added:

“One person in a relationship investing in cryptos when their partner is a vehement non-believer would create natural stresses — especially when cryptos have such large intraday swings in value and thus, the value of the portfolio.”

“Except for the lucky few, I fear that cryptocurrencies’ path will be littered with human tragedies.” Halley noted.

Some Results Explained

Some results were normal. Males dominated the females regarding crypto investments. Also, Millennials and Gen Z were the biggest age groups that are owning and using crypto, and Bitcoin is the number one choice of cryptocurrency.

On the other hand, other findings are not really typical. The study found that many investors delved into Dogecoin and Ethereum, and 60% of the respondents had withdrawn from stock markets to invest in cryptocurrency.

Concurrently, the main reason why people are not investing into crypto was they did not “know much about it,” and other respondents saying “I don’t believe in it” and also the lack of regulation, However, now is the bull season, and majority of the respondents state that Bitcoin will end the year in the $50,000 – $100,000 mark, with some of them aiming for $100,000. As of now, Bitcoin trades at $53,000.

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