... Bitcoin creeps further and further into the psyche of the masses. Spreading its roots throughout our discourse, our culture, and our industry one block at a time.
The excerpt and chart you are looking at above come from this report published by Blockchain Capital early this morning, which highlights an apparent demographic megatrend developing in relation to Bitcoin awareness, favorability, and adoption. Granted, this is a small study of only 2,052 Americans, but it is a study nonetheless. And it confirms a theory we like to harp on here at the Ƀent, youths will help lead this monetary revolution due to their natural disdain for the analog nature of the remnants of the pesky Industrial Age, so of course we're going to pump the shit out of it.
What is most interesting to note in my opinion is the different market conditions that existed when each set of questions was posed to the respondents. The first survey was conducted in the Fall of 2017 before the bull market approached "rip your face off" levels and the most recent was conducted last week, in the depths of the bear market after an 80% price decline. Maybe surviving a crash like that with some authority is comforting for an inherently skeptical retail class. Maybe a portion of the respondents bought the dip and are trying to pump their bags.
Or, maybe the psychological checkpoint of Bitcoin being around and working for a whole decade has convinced people that this thing may be here to stay, and this is a theory I am extremely partial towards. Bitcoin's intuitiveness, permissionless nature and digital nativeness, when compared to the traditional system by younger Millennials and Generation Z, may make its success as inevitable as the Internet's was in retrospect.
Nothing like some Van Morrison on a cold, overcast morning.