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The cryptocurrency market was firing on all cylinders in 2021 with many of the top coins hitting all-time highs in a bull market. The collapse of several crypto-related companies has led some to the exit doors and could be keeping investors from putting more money into the cryptocurrency sector. Here’s a look at what a new Benzinga survey reveals about the cryptocurrency market.
What Happened: Among the biggest stories for cryptocurrencies and the overall financial markets in 2022 are the collapse of Celsius and the recent bankruptcy of the crypto platform FTX.
The news comes on the heels of a crypto winter that has seen cryptocurrency prices collapse, after many hit record highs in November 2021 or in May 2021 for Dogecoin DOGE/USD.
Top cryptocurrencies like Bitcoin BTC/USD and Ethereum ETH/USD are each down over 65% year-to-date in 2022.
Given the collapse of FTX and its related FTX Token FTT/USD, Benzinga polled 1,000 people to ask about their cryptocurrency aspirations moving forward.
Related Link: Best FTX Alternatives: How To Keep Your Crypto Safe
The Poll Results: Benzinga asked 1,000 Americans the following question:
“How likely are you to buy any cryptocurrencies in the next 12 months?”
The results were mixed, with the option of not buying any cryptocurrencies getting the most votes. Although, over 30% of respondents said they will definitely or probably buy cryptocurrencies over the next 12 months.
The complete results were:
Definitely Will: 16.4%
Probably Will: 14.8%
May or May Not: 23.1%
Probably Will Not: 17%
Definitely Will Not: 28.7%
Readers may be surprised to see the three negative or neutral responses all getting the most votes. A total of more than 68% said they may not or definitely won’t be buying any cryptocurrencies over the next 12 months.
The results of the poll could suggest further pressure on the cryptocurrency market ahead.
Data for this article came from an exclusive survey done by Benzinga in November 2022 that polled 1,000 people.
Read Next: How To Buy Cryptocurrencies
Photo: Courtesy of Jernej Furman on flickr.
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Image and article originally from www.benzinga.com. Read the original article here.