Civic Science: Wealthy investors in a crisis are less likely to get rid of cryptocurrencies

The Civic Science research agency, by polling 1,000 investors, concluded that holders of cryptocurrencies with an income of more than $150,000 retained assets during the market fall.

Analysts at Civic Science posted a report stating that low-income investors have sold the most crypto assets in recent times. However, 54% of cryptocurrency holders weathered the storm without cashing out their crypto assets.

The authors of the report note that almost half of the cryptocurrency investors surveyed (46%) admitted to having sold some of their cryptocurrency in the past few weeks. At the same time, investors with lower income more often parted with their assets. Almost 26% said they had cashed out most of their positions, while 20% had sold a small part.

The report says that investors with earnings of more than $150,000 maintained a long-term strategy, of which only 28% sold part of their crypto assets. At the same time, 65% of lower-income crypto holders sold part of their digital assets.

According to Civic Science analysts, the desire of people to invest in digital assets has changed due to the collapse in prices. In January, 54% of investors said that market volatility is a significant barrier that could hinder the distribution of wealth, while 58% currently share this opinion.

However, the main reason people stay away from digital assets is not price fluctuations. Of those surveyed, 30% consider bitcoin an illegal asset, and only 23% indicated its volatility. 10% admitted that they do not have the financial ability to enter the ecosystem, and 5% do not understand how to buy crypto assets.

According to data from Bank Of America, the number of active cryptocurrency users in the summer has decreased by more than 50% compared to the maximum value in November last year.