Despite the ongoing crypto winter and the high-profile collapses of systemically important crypto firms like FTX, the crypto community’s optimism seems unbroken, according to a new survey.
The total market capitalization of crypto markets has fallen in 2022, with the overall crypto market value having fallen 70% since Bitcoin (BTC)’s all-time high of $69,000 in November 2021.
However, that hasn’t stopped investors from continuing to invest in cryptocurrencies, with 41% of respondents to a new Blockchain.com survey saying they continued to buy cryptocurrencies in 2022.
The survey, released on December 22, was conducted among more than 40,000 people worldwide who visited Blockchain.com, one of the biggest websites in the cryptocurrency industry. The study was titled “Crypto Confidence: A Survey on Investor Sentiment” and was held from November 28 to December 9, 2022.
According to the survey results, a significant proportion of respondents are also willing to continue buying cryptocurrencies in the coming year. Although the industry has had a difficult year, 40% of participants want to continue investing in cryptos like Bitcoin in 2023.
Additionally, nearly 40% of respondents said they plan to have conversations about cryptocurrency with family and friends this year, which is seen as a sign of the growing awareness of the asset class.
In addition to general mood findings, the study also provides insights into regional investor behavior, with Brazil, Nigeria and Ghana surprisingly standing out as the countries with the most positive mood.
50% of participants from Brazil say they have bought crypto in 2022 and almost 50% of Brazilian investors want to continue doing so next year. In Nigeria, 50% of respondents have also invested in crypto this year, and next year in Ghana even 60% of participants want to buy crypto again.
In Germany and Italy, meanwhile, crypto investor sentiment appears to be at an all-time low, with just 31% of Italians investing this year and only 29% planning to do so next year. In turn, only 34% of German survey participants have purchased crypto this year, and only 30% plan to make such an investment in 2023.