Roughly 10% of Britains and Americans Are Currently Invested in Cryptocurrency: You Are Still Early

My initial foray into crypto in late 2020 was initially met with a feeling of incredible fomo. BTC was sailing past $20k and I felt particularly sour about missing a fire sale price of around $5K just 7 months earlier with the covid induced March 15th dip. By the time I first bought it was at $27k.

That portfolio saw modest profits over the next two years however through a combination of life's surprises, bills, moving flat and the subsequent bear market I am now firmly back to square one. As I begin my reinvestment journey I thought it beneficial to remind myself of a few things:-

Three years on, it’s easy to think you’re too late at making good money, especially with users in the 100k plus moons tally, btc’s current price and more. Today BTC sits at $29k while 7/8 months ago it was down an attractive $16k. Point being while never might be a strong word, it is certainly as good a time as any to begin your crypto journey now.

To all those who may be joining this sub for the first time as MOONs grow in price and popularity, while generally a good source of crypto news, perusing this sub at your leisure may lead to thinking you’ve missed the boat. This is after all somewhat of an echo chamber representing a vast minority of individuals across the world.

10% of people in UK have money in cryptocurrency https://www.forbes.com/uk/advisor/investing/cryptocurrency/cryptocurrency-statistics/

A study from April of this year found that around 17% of Americans have at one point, or still do, hold an investment in cryptocurrency with two thirds of that 17% still holding, equaling roughly 12% currently invested today - https://www.pewresearch.org/short-reads/2023/04/10/majority-of-americans-arent-confident-in-the-safety-and-reliability-of-cryptocurrency/

Data showing proven link between user interest via Google Trends and exchange rate of BTC. "The higher the price, the higher the interest score from Google". A somewhat obvious reminder that public interest whether negative or positive, is correlated to overall price and that right now, in the midst of a bear market, is a great time to start investing if you’re new to the game. - https://pdfs.semanticscholar.org/089d/551bee58b65fdac8ab8ea42b03bcfec0ad71.pdf

Using Google Trends from the time I first entered to now, it's clear public interest is very low with US scoring a 9 (out of a possible 100) and the UK scoring a 14:-

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UK's Google Trends score of 14/100

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US's Google Trends score of 9/100

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TL:DR - Sounds obvious but it’s a reminder to those at the start of their investment (or reinvestment) journey that there is still plenty of time. All you need to do is relax and DCA, add the occasional comment and post into this sub and you will slowly but surely build up your portfolio in time for a possible 24/25 bullrun and beyond. At which point you can once again expect everyone from postman Pat to Claire in the office, talking about crypto in one way or another.