Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
A new survey has mapped out the sentiment of crypto holders towards the present market climate. It shows how most investors are looking at the market despite the recent crash. This survey from Deutsche Bank shows that more and more crypto investors are leaning towards holding for the long-term than selling. The majority have revealed that they would not sell their holdings even if cryptocurrencies lost a large chunk of their value.
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. Out of a total of 3,250 U.S. respondents that were surveyed, 680 revealed that they used cryptocurrencies. The survey went on to further evaluate these investors which yielded some interesting findings.
Related Reading | Bitcoin Mining Stocks Lose 50-60% Value Since Crypto Price Peak
The majority of these holders said that they planned to hold their crypto through the worst of the market downtrend. Only less than half of respondents said that they would reduce or leave the market entirely if the value of their cryptocurrencies fell below 80%. The majority revealed that they planned to hold through no matter how bad the market got.
Crypto total market cap up at $1.95 trillion | Source: Crypto Total Market Cap on TradingView.com
These respondents are mainly small-time holders who have put less than $10,000 in the market overall. 38% admitted to only putting less than $1,000 into crypto, so these are everyday investors.
A majority of the polled users said that they had only recently gotten into crypto. A total of 65% said that they had started investing in the market in the last year alone. The main motivator? To make money from their investments. But not everyone’s motivation was to make money. A lesser but significant percentage admitted that they got into the market out of curiosity or exploration. Others also admitted that they got into the market as a way to diversify their investment portfolios.
Outlook For The Future
The polled individuals also gave their forecasts for the future. For leading cryptocurrency bitcoin, 25% of the respondents said they expected to see the digital asset grow as high as $110,000 in the next five years. A more conservative forecast compared to what has been put forward by experts in the space but it speaks to the long-term bullish outlook of the investors.
Related Reading | Bitcoin Dominance Will Continue To Decline In Favor Of Ethereum, Altcoins, FTX US President
A further 70% revealed that they planned to increase their crypto activity in the next 12 months. 26% said that, on average, they made less than five transactions a month, with only 5% making more than 100 transactions a month.
As expected, the majority of investors from the survey were male. This fits into the broader where it remains a male-dominated space. However, women involved in the space are growing by the day. The Deutsche survey found that 14% of all respondents were female. Males also showed more bullish sentiment towards the market.
Featured image from AiThority.com, chart from TradingView.com
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.