How Can Ripple (XRP) Reach $5 in the Following Months?
Bitcoin, Coinranking Xrp
Millennials love cryptocurrencies—for a couple of reasons. One of them is the technology behind them that promises to modernize capitalism, and free it from the tight control of big governments and big banks. The other reason is the potential cryptocurrencies have to make investors rich quickly, provided that they continue to rise at an astronomical pace.
That’s why, among Millennials, cryptocurrencies were a popular choice to invest $10, in a recent survey of 1 Coinranking Xrp , in a recent survey of 1,000 Americans.
Specifically, the survey found that 9.19% of Millennials (18-34) would invest the $10,000 in cryptocurrencies, compared to 4.04% of Generation Xers (35-54) and 3.08% of Baby Boomers (55+).
What’s more interesting is that Bitcoin remains by far the most popular choice, followed by Ethereum and Litecoin. Specifically, 76% of the Millennials in the survey said that they would invest the $10,000 in Bitcoin, 12% in Ethereum and 12% in Litecoin—see table 1.
In Which Cryptocurrencies Millennials Will Invest $10,000
To a great extent, the survey results are as one might have expected. The survey rankings of major cryptocurrencies match their market capitalization rankings—see table 2. The only exception is Ripple, which is third in market capitalization, and nowhere to be found in the survey rankings.
There are a couple explanations for that. One of them is that the survey sample is extremely small, and therefore could easily have missed those who could invest the $10, Coinranking Xrp , and therefore has yet to capture the attention of the average millennial investor.
[Ed. note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment. Disclosure: I don't own any Bitcoin.]
I’m Professor and Chair of the Department of Economics at LIU Post in New York. I also teach at Columbia University. I’ve published several articles in professional journals and magazines, including Barron’s, The New York Times, Japan Times, Newsday, Plain Dealer, Edge Singa...
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