Latvijas Banka highlighted the decline in interest and use of cryptocurrency among Latvians in its “Financial Stability Report” for 2023.
Only 4% of people, down significantly from the 8% seen in February 2022, bought crypto assets, the central bank study claims. There are a number of reasons for this declining trend in cryptocurrency investments.
The bad perception of the sector is one of the main causes of the diminishing interest in cryptocurrencies. A lack of trust and faith in digital assets has been exacerbated by instances of fraud and insolvency among significant market participants.
Furthermore, the enthusiasm for cryptocurrency investments has probably been subdued by people’s past poor financial decisions.
Reasons Behind The Declining Trend In Cryptocurrency Adoption
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