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Alex Dovbnya

Undaunted by the sell-off, 21% of Americans are willing to buy the dip

According to a recent survey published by decision intelligence company Morning Consult, more than a fifth of U.S. adults were considering buying Bitcoin, the largest cryptocurrency, as of last week.

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For comparison, purchase consideration dropped to as low as 13% last July after the top cryptocurrency dropped to as low as $28,500.    

The recent cryptocurrency crash didn’t dampen the enthusiasm of Bitcoin owners, with the majority of them willing to buy the dip, according to the aforementioned survey.  

Unsurprisingly, millennials remain the most crypto-friendly demographic, with nearly a third of them willing to purchase Bitcoin.    

Men and those respondents whose annual income exceeds $100,000 are also more likely to buy the flagship cryptocurrency than the average American adult.        

On Jan. 24, the Bitcoin price slipped to $32,950. Earlier today, it rose to an intraday high of $39,285, recovering 19% from the recent low.

The vast majority of Bitcoin owners (70%) say that the main motivation behind their investment was to make money.      

The Morning Consult survey shows that those who own more than $500 worth of Bitcoin widely expect the price of the bellwether cryptocurrency to reclaim the $60,000 level within the next six months.

Expectedly, Bitcoin owners also tend to have a much bigger risk appetite compared to the rest of the respondents.

As reported by U.Today, 90% of Americans have heard about the largest cryptocurrency, according to another Morning Consult survey that was published last July.

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