Crypto Investors HODL Despite Market Volatility in 2024

Despite choppy market conditions, crypto investors remain steadfast, with ownership rates holding steady or even increasing in key global regions. The “2024 Global State of Crypto” survey provides a comprehensive look at the enduring commitment of crypto investors during uncertain times.

The survey highlights a resilient commitment from investors in the US, UK, France, and Singapore.

Retail Crypto Investors Are Not Selling

In the US, 21% of adults reported owning cryptocurrency, mirroring figures from the previous year. Similarly, 18% of U.K. residents maintained their digital asset holdings.

In France, crypto ownership rose from 16% in 2022 to 18% this year. However, Singapore witnessed a decline from 30% to 26%.

These figures are underpinned by a clear motivation – long-term investment potential. About 65% of crypto owners across these countries are buying and holding cryptocurrencies with the future in mind. Furthermore, 38% view their digital assets as a buffer against inflation, showcasing a strategic approach to this volatile market.

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The resilience of cryptocurrency enthusiasts extends beyond ownership. Data from the survey suggests that fewer investors liquidated their assets in the past six months compared to those who sold over a year ago. In Singapore, only 10% have sold recently, compared to 49% who did more than a year ago, indicating a shift toward more bullish sentiment.

Additionally, those who have previously exited the market appear ready to return. Over 70% of past crypto owners are contemplating re-investing within the next year, driven by a positive outlook on the asset class. Among current owners, 57% are confident enough to make cryptocurrency a significant part of their investment portfolios, and 27% of former owners are likely to re-enter the market soon.

Another survey by CoinGecko supports these findings, revealing that 54.1% of investors remain optimistic about the market’s long-term potential. Despite some bearish attitudes (31.6%), a significant portion of builders (47.6%) remain bullish, further indicating a strong belief in the sustainability of cryptocurrencies.

The spot Bitcoin ETFs drew new investors into the ecosystem. Nearly two in five US cryptocurrency owners now hold some of their portfolio in crypto ETFs, and 13% own cryptocurrency exclusively through these funds.

“Now as we enter the final months of 2024, it appears the crypto industry has two significant opportunities for growth: Winning back those who exited the market during the crypto winter, as well as ushering in those who have yet to invest in digital assets,” the survey said.

Read more: How To Trade a Bitcoin ETF: A Step-by-Step Approach

Moreover, as the 2024 US presidential election approaches, crypto has emerged as a prominent campaign issue. Among US respondents, a considerable majority (73%) plan to weigh a candidate’s position on cryptocurrency in their voting decisions. Importantly, 37% stated that it would significantly influence their choice.

“Donald Trump is leading Harris by 6% [on Polymarket]. If he wins the election, the Bitcoin bull market is back,” Crypto Rover said.