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FOMO

As the cryptocurrency market climbs to unprecedented levels, many investors express regret over missing significant digital asset gains, reveals a new survey by Kraken. On December 4th, crypto exchange Kraken disclosed findings from its 2024 Kraken Crypto FOMO Survey, focusing on <a href="https://yellow.com/asset/btc/tutorial/mastering-fomo-a-survival-guide-for-the-2024-crypto-bull-run">fear of missing out (FOMO)</a> and fear, uncertainty, and doubt (FUD) among crypto investors in the United States. This survey examined the influence of emotions on investment choices through responses from 1,248 participants. 
Many respondents felt they missed out on potential profit. Kraken <a href="https://cointelegraph.com/news/kraken-survey-fomo-fud-price-surge">reports</a> that 88% of those surveyed believe they passed on substantial gains. This sentiment seems driven by the recent bull market, spearheaded by <a href="https://yellow.com/asset/btc">Bitcoin</a>'s impressive rally. On December 5th, Bitcoin crossed the $100,000 threshold for the first time, climbing 126% since January to reach this landmark. 
Bitcoin's rise prompted gains across other cryptocurrencies. Notably, <a href="https://yellow.com/asset/xrp">XRP</a> surged to $2.38, overtaking <a href="https://yellow.com/asset/sol">Solana</a> at $243.36 and <a href="https://yellow.com/asset/usdt">USDT</a>, securing its position as the third-largest crypto asset by market capitalization. 
Despite feelings of missed opportunities, many respondents still hold a positive outlook. Approximately 84% anticipate future gains from crypto investments. 
Respondents cited sudden price surges as their most significant worry, with 60% regarding missed opportunities with alarm. In the broader context, Bitcoin's dominance surged back to 57% as its value hit $104,000. 
A considerable 81% of survey participants admitted to making investment decisions influenced by FUD, while 84% acted on FOMO during price hikes. The survey underscored the pivotal finding that 63% acknowledged emotional decision-making as having a markedly negative impact on their portfolios. Kraken emphasized the importance of not solely relying on market sentiment. Instead, it recommended a more "methodical approach" based on technical analysis and structured trading strategies.

FOMO and FUD Drive Trading Regrets for 88% of Crypto Investors - Kraken Survey

Yellow News

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