Cryptocurrency investors think Ethereum is better than Bitcoin

CoinDesk has released its State of Blockchain report for Q4 2017, outlining trends, investor sentiment, and enterprise adoption throughout the past year.

A key part of the report is the Blockchain Sentiment Survey, which collected data from over 3,000 respondents involved in cryptocurrency.

Findings included the fact that 92% of participants purchased cryptocurrency in 2017, and 83% own over three unique digital assets.

Cryptocurrency investors also check prices regularly, with 94% of respondents checking prices at least once a day, and 37% checking every hour.

At the end of Q4 2017, 49.6% of crypto owners though that cryptocurrencies were in a bubble, with 11% unsure and 39.4% stating it was not.

SOB Q4 2017 Bubble Sentiment
Bubble sentiment

Bitcoin vs Ethereum

Confidence in Bitcoin decreased at the end of 2017, with investors more buillish about Ethereum than Bitcoin in Q4 2017.

93.7% of crypto owners surveyed thought the price of Ethereum would increase in 2018, with only 87.3% believing the same for Bitcoin.

Additionally, 69% of respondents felt confident that the price of Ethereum would go up a lot in 2018, while only 45% thought Bitcoin would increase substantially.

SOB Q4 2017 Bullish Sentiment
Price rise

When asked how they felt about the state of Bitcoin in Q4 2017, 69.0% of users responded positively, and 21.2% responded negatively.

People were a lot more optimistic about Ethereum, with 82.1% of respondents feeling positive about the blockchain, and only 7.1% responding negatively.

Survey participants said Bitcoin’s most positive aspects were its immutable nature and ability to act as a hedge against central bank monetary policy.

They also rated its negative aspects, with most respondents stating that the most negative aspect of Bitcoin was its high transaction fees, followed by scaling issues.

Crypto owners felt that the most positive aspect of Ethereum was either its protocol or its ecosystem of decentralised applications.

They felt that the most negative aspect of the blockchain was its potentially buggy smart contracts and scaling problems.

The data also shows that cryptocurrency owners are positive about the industry as a whole, but have recently become more confident in Ethereum’s potential for growth than Bitcoin’s.

The full State of Blockchain Q4 2017 report is available from CoinDesk.

SOB Q4 2017 Bitcoin sentiment
Bitcoin sentiment
SOB Q4 2017 Ethereum sentiment
Ethereum sentiment

Now read: 20% of Bitcoin owners bought on credit

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Cryptocurrency investors think Ethereum is better than Bitcoin