Report Reveals Crypto Investors’ Investment Plans For 2023
SoFi, a San Francisco-based online finance bank, has released a report on how investors intend to manage their investments in 2023.
Survey Conducted On 2022 Market Condition
Two out of every three investors have expressed regret over how they handled their investment in 2022. According to this SoFi report, over 80% of investors would like to implement a new strategy in their investment in 2023.
This firm’s first analysis surveyed 1000 investors about how they managed their investments in 2022; how it went for them, and what plans they would like to implement in 2023 to better manage their investments.
In 2022, investors were confronted with a whirlwind of instability accompanied by high market volatility. Last year’s market also saw a bear market season, with token prices plummeting to all-time lows and some firms declaring bankruptcy.
Despite 2022 being a turbulent year for the crypto space, 90% of investors were reported to have continued investing and stacking up more assets.
Some major regrets most investors expressed
were: they regretted not buying at a good entry point when prices were low; also not buying more stocks when the market began to decline, and finally, not selling off their stocks and assets before the asset began to decline to realize profit.
Inflation Issues; Plans For 2023
The major economic challenge in 2022 was high inflation, which forced the US government to raise interest rates to combat inflation.
In this survey, 38% stated they were still interested in investing despite the inflation, 33% stated it discouraged them from tampering with their investments, and the remaining percent said it completely discouraged them from investing.
The state of the economy had a significant impact on investors, as many were concerned that their investments would lose all of its value.
According to the survey, these investors used other activities as a coping mechanism for the market downturn.
To distract themselves from the state of their investments, about 40% engaged in hobbies, and another 30% simply stopped checking their balances.
Many investors asserted that the economic crisis disrupted their plans, and forced them to cancel numerous plans they had made for the year as a result of the losses they had incurred.
In the survey, the majority of investors listed three key steps they wanted to take with their investments in 2023. They discussed increasing their investments, doing extensive research before investing, and getting a financial advisor who specialized in the area.
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