FOMO and FUD Dominate Crypto Buying Decisions, Survey Finds
A recent survey by Kraken reveals that emotional responses, particularly FOMO (fear of missing out) and FUD (fear, uncertainty, doubt), have significantly influenced crypto investment decisions, with over 80% of users reporting these feelings impacting their choices.
Notably, almost 88% of participants felt they had missed out on substantial profits in the past. Despite this, the survey indicates that optimism about future gains outweighs the regret of missed opportunities.
Kraken’s study highlights how emotions drive market behavior, especially in the context of recent bullish trends, such as Bitcoin surpassing $100,000 for the first time. The survey shows that a large percentage of crypto investors have made decisions driven by emotional triggers like FOMO (84%) and FUD (81%). The report suggests that most crypto holders are more concerned about missing potential profits from their existing investments rather than seeking new opportunities.
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The survey also offered demographic insights, showing that older investors are more confident in seeing future gains, with those aged 60 and above expressing greater optimism. On the other hand, younger investors, particularly those aged 18 to 29, are more likely to believe they’ve missed significant opportunities. Additionally, the research found a noticeable gender gap, with men being more prone to FOMO, especially in relation to price surges.
Kraken concluded by urging investors to approach the crypto market with caution. Social media, while useful for information, also amplifies emotional reactions, and the firm recommends a more analytical mindset to make informed decisions in the volatile space.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
