Bitcoin Price: Is blockchain cryptocurrency still the future?

It’s highly volatile, can be extremely risky, and is something most have heard of but don’t know much about.

And after a horror 12 months which saw Bitcoin plunge by more than 60 percent most investors who were bold enough to invest are now wondering if they will ever reap any reward from their investments.

While nothing in economics is certain, those who trade and invest are fairly confident it will happen but not straight away.

According to Fred Schebesta, Co-Founder of Finder-backed cryptocurrency financial services company HiveEx.com, crypto is basically digital gold and like the real thing, is more of a long-term investment.

Mr Schebesta admits the high risk and volatility is a large reason why some people shy away from buying crypto, but said it’s not the biggest reason.

“A survey of 1997 respondents commissioned by HiveEx conducted in August found that 65 per cent of Australians who don’t have crypto don’t understand or think it’s too difficult to use,” he said.

“One in five said they think it’s a scam.”

A recent HiveEx.com survey found the number of Australians with cryptocurrency had almost tripled, with 13.5 percent investing in crypto. This is compared to a study by finder.com.au in January 2018, which found that only 5 percent of Australians had it.

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