A fresh survey has found that almost 45 procent of cryptocurrency investors hold their assets with a longer-term view while waiting for market prices to improve.
The survey, which wasgoed conducted by South Korean crypto exchange Bithumb, polled Two,507 people for its explore. Ter a report from Yonhap News, the figures showcased that 42.8 procent of traders invested their money into digital currencies spil part of their long-term management plans.
Of those surveyed, 27.1 procent were seeking short-term profits, while a mere 13.1 procent indicated that they had invested to get a feel for the financial market. Even tho’ 44.1 procent of those invested stated that they would limit how much they waterput into the market when the government imposes renta gains taxes, 39.Five procent said they would maintain the investment they had ter place despite the tax. A further Four.Four procent claimed that they would increase the money they waterput te, whereas 13.1 procent said they would take all of their money out.
Since the end of December the market has experienced a roller coaster carril ter prices. With Bitcoin’s value reaching within touching distance of $20,000 mid-December, the market spotted a surge of rente from fresh investors. Fast-forward six months straks and prices within the industry have slumped. According to CoinMarketCap, the number one cryptocurrency is trading at $7,716, indicating a Two.01 procent rise ter seven days, at the time of publishing. The market cap of the entire industry isn’t faring any better, and is presently valued at $347 billion, a significantly low figure from its more than $800 billion value te January.
Yet, regardless of the fact that market conditions are anything but ideal at the uur, the fact that investors are willing to keep their money te the industry indicates they have some confidence ter market prices rising again. This belief is indicated ter the fact that a survey from the Handelsbank of Korea (Mannetjesgeit) ter March found that 40 procent of adults te the 30-something age bracket te the country were willing to invest te the cryptocurrency market.
Not only that, but a separate survey conducted by the Korea Financial Investors Protection Foundation te December displayed that those ter their 20s te South Korea were most active with investing te the market. At the time figures indicated that 22.7 procent had bought digital currencies.
For a country that has had on-again, off-again, on-again relationship with the cryptocurrency market it now seems to be heading ter a positive direction.