- The probability of wealthy investors selling their crypto holdings is much lower.
Stable Investors did not sell off their holdings
A recent analysis from consumer intelligence research platform CivicScience indicates that during the previous several months, around 54% of investors have not sold any of their cryptocurrency holdings. A quarter of bitcoin investors, though, virtually completely liquidated their holdings. Only a tiny quantity of cryptocurrency was sold by 20% of respondents. Interestingly, the capacity to maintain a bitcoin stockpile is directly correlated with one’s income. About 70% of traders who make over $150,000 annually have a high level of confidence, and they haven’t sold anything in the prior several months. On the other hand, the overwhelming of those with yearly incomes under $50,000 ended up selling all or part of their investments.
Prevailing concept about crypto
In total, almost 20% of the populace has indeed made a cryptocurrency investment. From 54% in January to 58% in July, more people say that the unpredictability of cryptocurrencies makes them less likely to invest in significant assets like Bitcoin, Dogecoin, and Ethereum. This shows that investors who are risk averse found cryptocurrencies to be much less enticing after the recent meltdown. Cryptocurrency is presently in a bear market, as indicated by the fact that just 5% of traders think its appeal has not peaked. According to 30% of the respondents, the main reason why investors are reluctant to invest in cryptocurrencies is because of their presumed unreliability. Because they do not comprehend crypto, participants are also hesitant to dabble in it.