Turkey and Brazil are market leaders on Bitcoin adoption

The growth on Decentralised Finance (DeFI) has arguably pushed the crypto market upwards the past week, with Bitcoin, Ethereum, and other major cryptocurrencies giving gains of over 10-15 percent to investors.

The sentiment metrics followed yesterday’s report of American high-income earners, and millennials, being among the most prolific buyers of large-cap cryptocurrencies in the U.S.

U.S. citizens purchased a massive $67 billion worth of cryptocurrencies in the first six months of 2020 alone. The numbers mean an average crypto purchase of $4,000 per person. However, the figure is still lesser than last year’s $111 billion, or $7,000 per person.

The U.S. also leads in crypto adoption. The survey said that among the top-ten countries, America had a 15 percent penetration of digital asset investment and awareness as of 2019. The leaders are, rather unsurprisingly, developing markets like Turkey and Brazil as citizens look to cryptocurrencies as a better store-of-value compared to traditional finance.

Firms like Coin Metrics, a crypto markets data and investment provider, say that if these growth rates are maintained, Bitcoin will exceed even the U.S. bond market:

“Bitcoin’s current daily volume would need “fewer than 4 years of growth to exceed the daily volume of all US equities and fewer than 5 years to exceed the daily volume of all US bonds.”

With the high sentiment and adoption rates; the data shows a two-year-long bear market might just be ending soon.

Bitcoin, currently ranked #1 by market cap, is up 4.73% over the past 24 hours. BTC has a market cap of $215.09B with a 24 hour volume of $26.46B.

Now it is your time to start earning with this growth. Take a look at the automated robot many people are using for Crypto and Forex. Navigate to BrozBot ➡️ brozbot.com and find out more. The platform is the first integrated with crypto and forex exchanges, such as Binance, FxPro and Pepperstone.