I caught Boomer! – Wouldn’t it be good to be a millennial or to zoom into cryptos? And no, in terms of crypto performance, it’s grandpa boomer who would hold the pole position. All the details of this surprising analysis.
Are boomers stronger than millennials?
In the era of all-digital and cryptocurrency, the observation seems rather contrived. However, it would turn out that the performances of our elders far surpass those of the youngest recruits. Indeed, crypto, just like the traditional financial world, is a world of risk and sharks. Going there on talent or instinct does not necessarily work. And in this sense, the boomers, grounded in the experience of the years, happen to be formidable project analysts.
In effect, 34% of boomers spend up to several days to analyze a project before any substantial investment. A due diligence worthy of the name, like what is done on the traditional market for the purchase of company shares. This is 50% more than the other generations. Moreover, the study reveals that 64% of american investors spend less than 2 hours on a project before investing, or even throw themselves headlong into it without even DYOR (Do Your Own Research).
We’re not going to hide it, we all have one day or another rushed on a project simply by having seen the name pass on Twitter or YouTube. Carried by a FOMO (Fear Of Missing Out) irrepressible, we find ourselves trapped in a dizzying fall in price less than a week later. And that, the boomers, less fiery and more thoughtful, seem to have understood it well.
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Boomer, an experience worth gold… or Bitcoin
These boomers also pay more attention to the technical factors of each project. Tokenomics, marketcap, competitiveness of the sector, number of tokens in circulation compared to the total quantity… They are also less trapped by false mirrors such as the presence of a leader or the design of a website. Rather, they are pragmatic in judging the quality of a crypto project.
In addition, carrying out research on projects also requires a good command of social networks. It’s no secret that a lot is happening on the ‘Crypto Twitter’. We might as well believe the advantaged millennials and zoomers. And it may be, but to a lesser extent. Indeed, these web2 apps are no longer new. Boomers have had time to take them in hand too. Perhaps they handle them with less speed, of course, but that does not hinder them in their research.
Rather, the opposite is happening. The younger generations tend to overemphasize the general mood on Twitter. To the noises of corridors, to the opinions of influencers. Social networks are becoming their main vehicle for researching projects. While boomers stick to the facts and use the networks as a real investigative tool. One tool among others.
Doing due diligence, especially in cryptos, is of utmost importance. And boomers have the experience on their side. They thus immediately adopt the good reflexes acquired by their hard work on the traditional markets. They also tend to be more patient and thoughtful in their actions. In summary, if your great-uncle ever starts giving you Warren Buffett-style advice over a boring family dinner, don’t hesitate to listen. We never know.
If at the end of this article, you are still not convinced of the vital importance of taking the train of Bitcoin and cryptocurrencies, let’s leave us good friends: nothing and no one will succeed! Failing that, don’t wait any longer to prepare for the future. Run to register on Binance.