During the Bitcoin and altcoin market collapse, 55% of crypto investors chose to HODL

Survey data indicates that 55 percent of those who are currently invested in crypto chose to HODL during the most recent volatility, indicating that retail investors are cautious about purchasing the present BTC dip.

Aside from the good news of Celsius repaying all of its debt and avoiding a large liquidation, there are few on the spot reasons attracting investors to buy Bitcoin and altcoins right now.

The demise of a number of decentralized finance (DeFi) protocols, crypto investment funds, and bitcoin trading 60% below its all-time high has kept the market depressed, but there have been a few good news items that could indicate that the market is ready to enter a consolidation phase.

Despite the fact that the price of cryptocurrencies has dropped by more than half and that the bear market has begun, “nearly half” (55%) of crypto investors kept their assets in reaction to the recent crypto-asset market sell-off, according to a recent Appinio survey.

A majority of crypto investors’ investment conviction appears to be strong, according to the data. The survey also discovered that “33% of American investors are invested in crypto-assets,” with “40% of investors believing Bitcoin has the best investment opportunity over the next three months.”

When it comes to how American investors have handled the broad market selloff, Appinio discovered that 65% of respondents kept their assets and were secure in their judgments.

Inflation, the global economy and international conflict were identified by 66% of respondents as their most pressing short-term worries.

According to US investing analyst at eToro, Callie Cox, investors are feeling pessimistic due to a variety of concerns, as well as ongoing uncertainty and an overall rise in living costs.

The cryptocurrency market has now hit oversold territory, suggesting a period of consolidation is expected. Bitcoin enters oversold territory As well as crypto investors’ resilience, several on-chain indicators suggest that the market may have reached oversold conditions and is ready for a period of consolidation.

According to LookIntoBitcoin, the MVRV Z-score, which is a blend of Bitcoin’s market value, realized value, and z-score, has been useful in detecting when BTC is “significantly over or undervalued compared to its fair value.

LookIntoBitcoin’s Bitcoin Investor Tool, which is accessible on both Android and iOS devices, allows you to see whether or not buying or selling Bitcoins may result in enormous gains.

Bitcoin Investor Tool. Source: LookIntoBitcoin

The green-toned areas on the graph represent periods when Bitcoin’s value was at a low level that has previously occurred, suggesting that it is a possible purchase.

With the Bitcoin investor tool and the MVRV Z-Score, the time spent in a bear market can vary considerably, and it might continue for a long time; as a result, investors should not solely rely on any one measure or indicator in isolation.

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