A survey conducted recently showed that 55% of crypto investors still choose to hold despite Bitcoin’s bearish momentum.
In the past few months, along with the general downturn of the world economy, the cryptocurrency market is also witnessing a downward phase. There is very little reason for investors to hold Bitcoin and cryptocurrencies in general right now.
Not only the price of Bitcoin and many cryptocurrencies fell, the collapse of many projects and investment funds cast a shadow, contributing to the overall gloomy sentiment of the market.
Even so, according to a recent survey conducted by Appinio, despite the downturn, 55% of crypto investors surveyed said they are still holding cryptocurrencies. Only 8% of respondents said they had cut their losses by selling off their crypto holdings.
This is a positive signal that a large part of investors still have faith in the growth of Bitcoin in particular and other cryptocurrencies in general. Research also shows that 33% of investors in the US are involved in the crypto market. 40% of investors think Bitcoin is the asset class that offers the best investment opportunity in the next 3 months.
Assessing US investors exclusively, Appinio found that 65% of American respondents still hold crypto investments and are confident in their choices.
Recent data from LookIntoBitcoin shows that the current period is a period when Bitcoin is undervalued compared to its fair value. This is also a good opportunity for those who want to buy and own Bitcoin. Buying Bitcoins at the moment can generate overwhelming returns.
This is a positive news in the context that the Bitcoin price is maintaining around the $20,000 mark. According to Cointelegraph, there are currently only 26,284 wallet addresses holding Bitcoins worth more than $1 million. This also means that 75% of Bitcoin millionaires disappeared in less than 9 months.