The sentiment of cryptocurrency holders toward the market has been mapped by a new survey. The survey shows investors’ attitudes towards the current market climate despite its recent crash. Deutsche Bank’s survey shows that crypto investors increasingly prefer to hold their investments for the long term over selling. Most of them said that even though cryptocurrencies lose a lot of value, they wouldn’t sell their investments.
Holding crypto for the long-term
A recent Deutsche Bank survey titled “The Future of Cryptocurrencies” has found that more investors are leaning towards long-term holding. 6,80 of the total 3,250 U.S. participants were surveyed and they indicated that they had used cryptocurrency. These investors were further evaluated and some fascinating findings resulted from the survey.
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A majority of those surveyed said they would hold onto their cryptocurrency even if the market falls. Just half (48%) of the respondents stated that they would leave or reduce the market if their cryptocurrency’s value falls below 80%. The overwhelming majority of respondents stated that they intended to continue regardless of the market’s performance.
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This group consists primarily of small-time investors who have invested less than $10,000 overall in crypto. These are the everyday investors who have invested less than $1,000 in crypto.
Most of the respondents said that crypto was something they were just starting to get into. A whopping 65% of respondents said they only started investing in the crypto market within the past year. Why? The main motivation? To earn money through their investments. But not everyone’s motivation was to make money. However, a significant proportion of people admitted to being in the market for curiosity and exploration. Some others admitted they entered the market to diversify portfolios.
The Outlook for the Future
In addition, the polled people gave their predictions for the future. The top cryptocurrency, bitcoin, was predicted to grow by 25% in five years. Although this is a more cautious forecast than the ones made by industry experts, it shows the investor’s long-term bullish outlook.
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Another 70% stated that they plan to grow their cryptocurrency activity over the next twelve months. A total of 26% stated that they make less than 5 transactions per month on average. Only 5% report more than 100 transactions per month.
The survey revealed that the overwhelming majority of respondents were men. The survey’s results fit into the larger space, which is still dominated by men. But, the number of females involved in the sector is growing every day. According to the Deutsche Survey, 14% of respondents were women. The Deutsche survey also revealed that male respondents were more bullish towards the market.
Featured image taken from AiThority.com and chart from TradingView.com