According to a recent report by the Cambridge Centre for Alternative Finance, the number of cryptocurrency users increased by almost 100% in 2018.
Despite the long-lasting dominance of the bearish trend in the market, the number of virtual currency users has been constantly increasing in the course of this year, according to the conclusions made by the researchers from Cambridge. While bitcoin devalued by about 80%, the number of cryptocurrency users almost doubled.
Three quarters of 2018 alone saw the number of authorized cryptocurrency users growing from 18 to 35 million, the report reads.
The majority of new users are not businessmen. This means that crypto gets more and more widely accepted by the society, the researchers believe:
“Conforming with popular narratives, survey data indicates that the majority of users – both established as well as new entrants – are individuals and not business clients. Individuals can be hobbyists, retail investors, consumers, or users seeking a better investment or payment alternative,” – they conclude.
Despite the continuing BTC price decline, all its fundamentals have been growing stronger in the course of this year. The number of Blockchain wallet users surged by 2 million in the last three months and reached 30 million.