As the cryptocurrency market hits new highs, many investors feel they’ve missed out on major digital asset gains, according to a new survey by Kraken.
On Dec. 4, crypto exchange Kraken published the results of its Kraken Crypto FOMO Survey 2024, focusing on the fear of missing out (FOMO) and fear, uncertainty and doubt (FUD) among crypto holders in the United States.
The survey polled 1,248 participants, exploring how emotions shape their investment decisions.
Crypto holders feel they missed out
Many respondents feel they already lost out on potential gains. According to Kraken, 88% of the survey participants say they’ve missed major gains.
The survey respondents’ sentiments may be driven by the bull market rally led by Bitcoin (BTC). On Dec. 5, BTC reached the $100,000 price point for the first time. Bitcoin has surged by 126% since January to reach the $100,000 milestone.
Apart from Bitcoin, altcoins also followed. Most notably, XRP (XRP) surpassed Solana (SOL) and Tether (USDT) to become the third-largest crypto asset by market capitalization.
Even though some survey participants feel like they missed out, a lot of the respondents may believe in the potential gains that can come out of their crypto investments. The survey results showed that about 84% are still looking forward to future opportunities in crypto investments.
What keeps crypto investors up at night? Source: Kraken
When asked about their greatest fears, 60% pointed to a sudden price surge as the most concerning missed opportunity.
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63% believe emotions negatively affect portfolio
Meanwhile, 81% of the survey participants said they made investment decisions based on FUD, while 84% said they acted based on FOMO when there were price surges.
The survey also highlighted that 63% of holders acknowledged that emotional decisions had negatively affected their digital asset portfolio. According to Kraken, this underscores the real-world consequences of investing while relying on market sentiments.
While market sentiment helps decision-making, Kraken recommended using a more “methodical approach,” relying on technical analysis and planned crypto trading strategies.
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