Bitcoin Has Yet to Break Into the Mainstream Market, Research Finds

Bitcoin is still the most dominant cryptocurrency on the market today, with its market cap accounting for 47 percent of the overall crypto capitalization. But its price is projected to go up once mainstream adoption takes place.

A recent survey conducted and published by consulting company Gallup found that there are a lot of people who have yet to jump on the cryptocurrency bandwagon. According to the data collected by the company, of the 2,000 people that it interviewed, only 2 percent reported they own Bitcoin while 1 percent admitted they’re interested in buying it in the future, Forbes reported.

Moreover, about one in four people said they are intrigued by the cryptocurrency although they aren’t interested in buying either. One of the major reasons why Bitcoin has yet to attract casual investors is that blockchain – the technology behind cryptocurrency – is quite a complicated subject to understand.

But institutions are trying to fix that. Several universities have already revealed that they were going to add cryptocurrency and blockchain to their curriculum as the demand is spiking. This is a clear sign that mainstream adoption has already begun, and once it’s in full swing, Bitcoin’s value will certainly skyrocket.

What’s more, the Chartered Financial Analyst (CFA) Institute also announced that it’s going to be adding cryptocurrency and blockchain technology to its curriculum, which will be implemented in 2019. The CFA is an agency that educates and provides a designation for people who would like to be financial analysts. Following this revelation, Bitcoin’s value suddenly took an upswing, reversing the bearish trend into a bullish one.

Billionaire investor Bill Miller even said that out of all the cryptocurrencies, Bitcoin is the most stable, which is saying something given the volatility that it experienced this year alone. Right now, Bitcoin is trading at $8,151, nearly a $2,000 difference from last month's$ 6,300.