Despite the gloom of the ongoing cryptocurrency winter, coupled with failures of crypto giants like FTX, the community appears to remain bullish about crypto, according to a new survey.
Crypto markets saw a massive sell-off in 2022, with the total market cap plummeting nearly 70% since Bitcoin (BTC) reached its all-time highs at $69,000 in November 2021.
But this didn’t prevent investors from buying more cryptocurrency, as 41% of respondents said they purchased crypto in 2022 in an online survey by Blockchain.com.
Released on Dec. 22, the survey has polled more than 40,000 people globally who visited Blockchain.com Explorer website, which is one of the world’s largest crypto websites in terms of traffic. The study is titled “Crypto Confidence: A Survey on Investor Sentiment” and was conducted between Nov. 28 and Dec. 9, 2022.
According to survey results, a significant share of people is also willing to continue to buy cryptocurrency next year. Despite a challenging year for the crypto industry, nearly 40% of respondents indicated a plan to purchase cryptocurrencies like Bitcoin in 2023.
Additionally, about 40% of respondents said they will talk about crypto around the holiday table this season, which is considered to be a sign of growing awareness.Source: Blockchain.com
Apart from general investor sentiment, the survey also provides some geographic insights, with Brazil, Nigeria and Ghana becoming the most bullish countries.
Related: Turkey has an obsession with crypto — Specifically Dogecoin: Study
As such, 50% of respondents from Brazil said they bought crypto in 2022, with 50% also planning to buy digital coins next year. 50% of Nigerians said they purchased crypto this year, while as many as 60% of Ghana respondents said they expect to buy crypto in 2023.
In contrast, Germany and Italy emerged as one of the most skeptical countries in terms of investor sentiment to crypto. Only 31% of Italian respondents said they purchased crypto this year, with 29% planning to purchase next year. Just 34% of respondents from Germany bought cryptocurrency in 2022 and 30% plan to do so in 2023.