Despite a rough 2022 for the crypto sector and numerous occasions where cryptos faced immense stress from both market forces and regulators, more and more investors are looking forward to 2023 and the chances it provides.
2022 saw many difficulties, with FTX and Terra being prime examples of how one bankruptcy may throw an entire sector into havoc. For example, the sell-off wave managed to erase nearly 70% of Bitcoin’s all-time high and consolidate it at around $17,000.
However, a survey from Blockchain.com, titled “Crypto Confidence: A Survey on Investor Sentiment,” revealed that 41% of the respondents purchased cryptos in 2022 and plan to add to their portfolios in 2023.
The survey, conducted between Nov. 28 and Dec. 9 and released on Dec. 22, reached out to over 40,000 Blockchain.com users, with a large portion of them adding that they will talk about crypto around the holiday table this season, which is considered to be a sign of growing awareness.
Crypto adoption continues
The survey also delved into some geographic insights, noting that Brazil, Nigeria, and Ghana are becoming the most bullish countries in 2023. It turns out that half of the respondents in Brazil and Nigeria have already purchased cryptos in 2022 and plan to expand their crypto holdings in 2023. Interestingly, as many as 60% of Ghanaian respondents said they expect to buy crypto in 2023.
On the other side, Germany and Italy became among the most skeptical countries in terms of investor sentiment toward crypto. It turns out that only less than a third of the Italian respondents added cryptos in 2022 and plan to expand in 2023. Germany is a bit better, with 34% of the respondents from Germany buying cryptocurrency in 2022 and 30% planning to do so in 2023.