Survey shows 55% of crypto investors chose to HODL as Bitcoin and altcoin prices collapsed
Crypto and equities markets are down and aside from the positive news of Celsius repaying all of their debt and avoiding a massive liquidation, there are few on the spot reasons that are prompting investors to buy Bitcoin and altcoins.
The collapse of numerous decentralized finance (DeFi) protocols, crypto investment funds and BTC trading 60% below its all-time high continue to weigh on sentiment but a few positive tidbits of data could be a sign that the market is ready to enter a consolidation phase.
expect people will shift from a comatose state of fear to the realization that tens of billions of $ in forced spot selling (LFG, 3AC, lenders, miners) were a capitulation/risk transfer rivaled only by the Covid crash https://t.co/vAj7HfTKxf
According to a recent survey conducted by Appinio, despite the collapse in crypto prices and start of the bear market, “more than half (55%) of crypto investors held their investments in response to the recent crypto-asset market sell-off with just 8% selling their investments.”
This suggests that the the investment conviction of a majority of crypto investors remains strong. The study also found that “33% of American investors are invested in crypto-assets,” an “40% of investors believe Bitcoin presents the best investment opportunity over the next three months.”
When it comes to how American investors responded to the broad pullback across financial markets, Appinio found that 65% of respondents held their investments and remain confident in their choices.
When asked to pinpoint their most pressing short-term concerns, 66% of respondents cited rising inflation, 39% highlighted the state of the global economy and 34% identified international conflict.
According to Callie Cox, U.S.
Read more on cointelegraph.com
