Investors are prepared to HODL their cryptocurrency investments even if the market was to crash by as much as 80%, according to a new survey by Deutsche Bank.
The Future of Cryptocurrencies offers a refreshing and optimistic outlook for the crypto market and its investors.
Deutsche Bank found that fewer than 50% would consider leaving the market entirely or reduce their investments if the above scenario became a reality.
The survey focused on 3,250 US consumers and was conducted in December. Out of the interviewees, 680 were cryptocurrency owners and 65% of them had become so in the 12 months leading up to the survey.
Most cryptocurrency owners got into the industry in a bid to make money. Another 34% said that curiosity and exploration were their greatest motivators, with many suggesting that they were eager to diversify their investment portfolios, even though most investment selectors are still reluctant to invest their customers’ money in crypto assets.
The survey found that male respondents were more active than their female counterparts, with 29% of males investing in the 12 months leading up to the survey compared to only 14% of females over the same period.
The survey also indicated that the average transaction size in the sector by those same people was relatively small with 67% of all transactions under $100.