Most crypto holders regret missed gains
Crypto investors are suffering from FUD and FOMO
As the cryptocurrency market reaches new record highs, many investors express regret over missed opportunities to capitalize on significant gains from digital assets. This is according to the results of a survey conducted by Kraken.
The Kraken Crypto FOMO Survey 2024 explores the fear of missing out (FOMO) and fear, uncertainty, and doubt (FUD) among crypto holders in the United States. The survey, which polled 1,248 participants, reveals how emotions influence investment decisions.
According to the survey, 88% of respondents regret missing out on opportunities for significant returns. These sentiments have been amplified by the bull market, led by Bitcoin, which reached an all-time high of $100,000 on December 5.
The growth wasn’t limited to Bitcoin, as many altcoins also saw substantial gains. For example, XRP surpassed Solana and Tether, becoming the third-largest cryptocurrency by market capitalization. Despite these missed opportunities, 84% of respondents remain optimistic about future prospects in the crypto market.
Investor fears
Sixty percent of respondents identified sudden price surges as their greatest concern about missed opportunities. Additionally, 81% admitted to making decisions based on FUD, while 84% said they acted on FOMO.
The survey also found that 63% of crypto holders believe emotional decisions have negatively impacted their portfolios. In light of this, Kraken recommends adopting a more systematic approach, relying on technical analysis and pre-planned trading strategies.
It is worth noting that the level of financial literacy among crypto investors is reportedly twice as low as the national average in the United States, nearing levels observed in less-developed countries.
