As cryptocurrency prices soar, many investors feel they have missed out on significant gains, according to a new survey by Kraken.
On Dec. 4, Kraken released its Crypto FOMO Survey 2024, examining the impact of fear of missing out (FOMO) and fear, uncertainty, and doubt (FUD) on U.S. crypto holders’ investment decisions.
The survey polled 1,248 participants, revealing how emotions influence their approach to digital assets.
Investors Feel They Missed the Boat
A significant portion of respondents expressed regret over missed opportunities.
Kraken reported that 88% of survey participants believe they’ve lost out on major gains.
This sentiment has been fueled by Bitcoin’s rally, which saw BTC hit the $100,000 mark on Dec. 5 for the first time.
Bitcoin has surged 126% since January, driving the broader crypto market.
Altcoins have also seen substantial growth. XRP recently overtook Solana and Tether to become the third-largest cryptocurrency by market capitalization.
Despite feelings of missed opportunities, 84% of respondents remain optimistic about future crypto gains.
Emotions Influence Decisions
When asked about their greatest concerns, 60% cited sudden price surges as the biggest missed opportunity.
Additionally, 81% admitted making investment decisions based on FUD, while 84% said they acted on FOMO during price spikes.
The survey also revealed that 63% of participants believe emotional decisions have negatively impacted their portfolios.
A Methodical Approach is Key
While market sentiment plays a role in investment decisions, Kraken emphasized the importance of a calculated strategy.
The exchange recommends leveraging technical analysis and planned trading strategies to navigate the volatile crypto market.
The findings highlight the emotional challenges investors face and the importance of disciplined approaches to maximize returns.
