An American sociologist and professor at the University of New Mexico, Everett Rogers, published the well-known book Diffusion of Innovations, in which he classified consumers into five groups. How does the most important cryptocurrency of the world fit into all this – Bitcoin?
Innovation diffusion curve
Professor Everett Rogers popularized his theory of the spread of innovation among consumers in 1962 and is still used today. Since its inception, the chart below has become widely used in many industries around the world.
According to Rogers, consumers are divided into five groups: innovators, early adopters, early majority, late majority and latecomers. In the next chart we can see how human psychology works and where the market becomes mainstream.
The second graph describes how the psychological profile of each group reflects consumer habits and how they approach innovative products or services. Innovation must be mastered by a large number of people in order to succeed.
A survey published by investment company Spencer Bogart in mid-2019 showed that less than 11% of the American population owns it Bitcoin. Recent surveys from this year in the UK, for example, show that compared to 2017, interest in Bitcoin by more than 5%.
Although Bitcoin can be considered an innovative technology with many advantages over traditional financial assets, it is still at an early stage of development. If the right turning point comes that will start mass adoption kryptoměny, the price of BTC can increase to several tens of thousands of dollars.
It is estimated that with a similar trend, the market capitalization of BTC would be $ 1.1 trillion by the end of 2023. Although the number may seem very impossible, it is a drop in the global financial ocean.
Conclusion
Several cryptocurrency experts claim that Bitcoin and other cryptocurrencies are just in the early stages of adoption and it will take several years for real mass adoption to occur. kryptoměn. It is still not too late to buy cryptocurrencies.
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