Originally published on: December 05, 2024
The excitement surrounding the soaring cryptocurrency market has left many investors feeling like they missed out on significant gains, a recent survey by Kraken reveals.
Released on December 4, the Kraken Crypto FOMO Survey 2024 delves into the fear of missing out (FOMO) and the impact of fear, uncertainty, and doubt (FUD) among crypto holders in the US. With insights gathered from 1,248 participants, the survey sheds light on the emotions influencing investment decisions.
An overwhelming 88% of respondents expressed regret for missing out on major gains in the crypto space. This sentiment is amplified as Bitcoin recently surpassed $100,000 for the first time, marking a remarkable 126% surge since the beginning of the year.
Notably, altcoins like XRP have also experienced significant growth, claiming the third spot in market capitalization ahead of Solana and Tether. Despite feelings of missed opportunities, 84% of participants remain optimistic about future gains from their crypto investments.
In a market driven by emotions, the survey revealed that 60% of respondents fear missing out on sudden price surges the most. Additionally, 81% admitted to making investment decisions based on FUD, while 84% followed FOMO during price spikes.
However, emotional decision-making has its consequences, as 63% of holders acknowledged negative impacts on their digital asset portfolios. Kraken suggests adopting a more methodical approach, incorporating technical analysis and strategic trading plans to navigate the volatile crypto market.
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