Stocks give like 20-30% returns in an year but bitcoin and other crypto coins can give this much return in just one day. At such, do you think that increasing popularity of bitcoin has reduced interest of people in stocks.
There is no specific data that we can convey that the popularity of bitcoin has reduced people's interest in stocks. But from what I've learned, bitcoin's decentralization makes people more likely to own it than people are interested in staying in the stock market.
I think in some countries, people are really shifting to crypto only and most of their investment portfolio is in the form of crypto instead of stocks. The awareness related to crypto is increasing day by day and this more people are getting included in this crowd. Stocks on the other hand become saturated, people have realized that these stocks are not as much profitable as bitcoins. Also, there are other benefits of bitcoins like it can be used for transactions. This cannot be done with stocks.
Bitcoin is widespread in terms of adoption because it has the power to survive in any conditions, recession and covid-19 are general descriptions regarding bitcoin's strength in maintaining value, on the other hand the stock market experiences ups and downs that are unable to react like bitcoin, so the steps to choose bitcoin are more profitable compared to the stock market.
However, bitcoin also has risks that affect price fluctuations, but for long-term holders this is not a big problem, because the cycle will run again according to the applicable stages.