Here’s Who Sold Most of Their Crypto Holdings During This Year’s Crash

The cryptocurrency market is brutal this year after experiencing regular and timely crashes for seven months straight. Top cryptos are down more than 60% from their all-time highs, and several altcoins have slumped below 80%. Investors who poured in their money last year face losses, and recovery is nowhere on the cards. The crypto market is testing investors’ patience, but not everyone is in a financial position to brace for the storm. Several investors jumped ship during the crash by selling their crypto holdings at a loss in fear of further slumps.

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Who Sold the Majority of Crypto Holding During the Crash?

US-based business intelligence firm Civic Science published a survey that shed light on ‘which category of investors’ sold most of their holding this year during the crash.

As per the survey, nearly half of all low-income investors sold their crypto holdings at a loss this year during the crash. 46% of low-income investors admitted that they sold their cryptos this year as money required for their day-to-day needs.

The survey polled investors with an annual salary of less than $50,000, and 39% admitted they sold all their crypto holdings. An additional 26% of low-income investors admitted to selling a portion of their investments. Only 35% of investors in the category revealed they still hold on to their cryptos despite the dip.

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Coming to investors with a middle income of $100,000 per annum, only 24% admitted that they sold their crypto holdings. The higher income class of people with an annual salary of $150,000 and less likely to sell their holdings during the crash. Only 19% of high-income investors revealed that they sold their cryptos this year.

Therefore, the survey concluded that low-income investors require their investments and cannot hold on to the long term. Only the middle and higher-income investors are positioned to take risks and hold on for a long time.