Americans say cryptocurrencies have a ‘negative’ impact on their relationships

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On Valentine’s Day, a new survey asked American adults how, if at all, cryptocurrencies have impacted their relationships. According to the survey, nearly half of all respondents (49%) said that cryptocurrencies have had a “negative” impact on their relationships.  A fifth of respondents (20%) said that cryptocurrencies have had “no impact” on their relationships, and only 8% said that cryptocurrencies have had a “positive” impact on their relationships.

According to a recent poll by YouGov, about a third of Americans say they would rather have a root canal than talk to their significant other about cryptocurrency. The poll, which was conducted in January 2018, surveyed 1,225 U.S. adults and asked them to rank various situations in terms of how much they would prefer them over talking to their partner about Bitcoin.

In a recent survey, 60 percent of U.S. investors reported a decline in the quality of personal relationships after getting involved in the cryptocurrency sector, a Bloomberg report said Sunday.

The results are among the first of their kind, which is a nod to the adage that money doesn’t necessarily make you happy.

cryptocurrencies cause disruption…. possibly

SurveyMonkey, on behalf of .Tech Domains, surveyed 1,000 Americans to learn more about the demographics, long-term outlook and social status of cryptocurrency traders and investors.

One of the most interesting parts of the survey is the section on relationships and cryptocurrencies. More than 60% of all investors felt that their belief and interest in the cryptocurrency market had a negative impact on their friends and family members – they said their involvement in it had a negative impact.

This morning, Bloomberg picked violence

https://t.co/fyQJGfMrzB

– nick carter (@nic__carter) April 24, 2021

.Tech domains – an opinion on the reason for the results. Given the countless stories of people selling their homes or businesses to invest in cryptocurrencies and the polarizing nature of the topic, it’s not surprising that many crypto investors are experiencing personal tensions, wrote Tasmina Syed, author of the report.

However, some experts agree with Syed: Tensions could arise on several fronts, said Jeffrey Halley, senior market analyst at Oanda Asia-Pacific Pte.

She added:

Someone in a relationship invests in cryptocurrencies while their partner is a committed non-believer, which creates natural stress – especially when cryptocurrencies have such large intraday fluctuations in value and thus portfolio value.

With the exception of a lucky few, I fear the path of cryptocurrencies will be littered with human tragedies, Galli said.

Other results

Some of the findings were typical. Men (31%) dominated women (21%) in investing in cryptocurrencies, Millennials (42%) and Generation Z (46%) were the largest age groups to own or use cryptocurrencies, and Bitcoin (65%) was the top choice among cryptocurrencies as an investment.

Other results were not so typical. The survey shows that more investors have invested in Dogecoin (39%) than Ethereum (33%) and 60% of those surveyed have refrained from participating in the stock markets to invest in cryptocurrencies, contrary to the common perception that cryptocurrencies are a short-term up and down game.

At the same time, the main reason people don’t invest in cryptocurrencies (59%) is that they don’t know much about it, followed by I don’t believe in it (26%) and lack of regulation (25%). But right now, it’s bull season: Most respondents say bitcoin will end the year between $50,000 and $100,000, with 34% even aiming for the $100,000 mark. At the time of publication, the asset is trading at $53,000.

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