In the midst of the market rally that has led Bitcoin (BTC) and other cryptocurrencies to reach new all-time highs, many investors feel that they have missed the opportunity to obtain greater profits.
This is indicated by the results of the Kraken Crypto FOMO Survey 2024, carried out by the Cryptocurrency exchange to some 1,248 holders residing in the United States. As pointed out Kraken’s publicationthe questions that were asked of the respondents They focused on their emotions.
The idea is to understand how fear of missing out (FOMO) and uncertainty and doubt (FUD) have affected investment decisions. In this sense, it was learned that a large majority of those surveyed (88%) They believe they were able to achieve greater profits.
Everything indicates that the sudden rise in the prices of most cryptocurrencies, which occurred during these months of November and December, has been the most worrying missed opportunity. 60% of respondents said they are most concerned about missing out on a significant price increase due to the influence of FOMO and FUD.
In this way, 81% of those surveyed admitted make decisions based on feardoubt and uncertainty, while 84% made investment decisions due to fear of missing out. A result that suggests that a large majority of investors “are allowing emotional triggers to guide their trades rather than a rational strategy.”
In this sense, they highlight the influence that increases and decreases in the price have on the concept that cryptocurrency holders have of FOMO.
17% of cryptocurrency holders define FOMO as “missing out on a significant price drop” (where they could invest more at a lower price). 20% fear missing both an increase and a decrease equally. Only 3% of cryptocurrency holders surveyed said they do not let price movements influence their decision-making.
Kraken.
It is observed how investors seem to prioritize seeking profits from price increasesinstead of taking advantage of opportunities to buy at lower prices.
This is a “fear of missing out on short-term gains” that often leads to impulsive purchases during market highs, rather than strategically accumulating assets. Something that could be done through dollar cost averagingwhen prices are lower, as explained by the Kraken team.
However, 68% of those surveyed still expect to achieve significant gains, highlighting among them people between the ages of 45 and 60, with men being the ones who recognized be more affected by emotions.
It is a state that within the ecosystem is also measured by the fear and greed indexan indicator that constantly oscillates according to the rise and fall times of bitcoin and other cryptocurrencies. The metric is currently at extreme greed levels, a level it has remained at since last November, as BTC has gone surpassing several all-time highs.
In bullish times like the current one, the market often experiences greed. Fountain. CoinMarketCap.
Regarding the influence of the sources of information, the survey allowed establishing a relationship between social media posts and FOMOsince 85% of those who claimed to depend on these sources also said that emotional decisions had negatively affected their portfolios.
As CriptoNoticias has reported on several occasions, in these bullish periods you have to be careful with FOMO, trying to stay calm to evaluate all the possibilities.
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