Who Sold Most of Their Crypto Holdings During This Year's Crash - Survey

The cryptocurrency market has been brutal this year after experiencing regular drops for seven straight months. Top cryptocurrencies are down more than 60 % from their all-time highs, and several altcoins have fallen below 80 %. Investors who invested their money last year are facing losses and recovery is nowhere in sight.

The crypto market is testing the patience of investors, but not everyone is in a financial position to prepare for the storm. Several investors jumped in during the crash and sold their cryptocurrencies at a loss in fear of further dips.

Who sold most of their cryptocurrencies during the crash?

American business intelligence firm Civic Science published a survey, which clarified "which category of investors" sold most of their crypto assets during the crash this year.

Nearly half of all low-income investors sold their cryptocurrency holdings at a loss during the crash this year, according to a survey. 46 % low-income investors admitted that they sold their cryptocurrencies this year because they needed money for their daily needs.

The survey looked at investors with an annual salary of less than $50,000, and 39 % admitted to selling all of their crypto holdings. Another 26 % investors with low incomes admitted selling part of their investments. Only 35 % investors in this category revealed that they are still holding their cryptocurrencies despite the decline.

When it comes to investors with a median income of $100,000 per year, only 24 %s admitted to selling their cryptocurrency holdings. AT the higher income brackets of people with an annual salary of $150,000 are less likely to sell their assets during a crash. Only 19 % high net worth investors disclosed that they sold their cryptocurrencies this year.

The survey therefore concluded that low-income investors are cherry-picking their investments and cannot hold them for the long term. Only middle and higher income investors can take the risk and hold it for a long time.

Interesting events for our readers

Binance

Trade with up to 60% off fees and a $600 bonus

Open an account Review

Phemex

Free bonus up to $ 2,500 upon registration and deposit

Open an account Review

Bybit

Free bonus up to 3650 USD after registration and deposit

Open an account Review

All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.