The year 2022 ended with great turmoil in the crypto market. But even with the sharp devaluation of crypto assets over the past twelve months and large companies declaring bankruptcy, investors are optimistic about the start of 2023.
According to a Blockchain.com survey, 40% of respondents will continue investing in crypto assets this year. Furthermore, the survey shows that a positive sentiment prevails among investors who intend to maintain their positions in the crypto market.
In total, Blockchain.com’s survey polled 40 thousand of investors in the global crypto market, with 41% stating that they had invested in crypto assets in 2022, a year of great challenges for the industry.
However, most of these investors are expected to continue investing in digital currencies. About 40% of the respondents stated that they will invest in 2023 in digital assets such as bitcoin.
Crypto market in 2023
Blockchain.com’s research shows that crypto adoption is expected to continue on the rise in countries that are part of the African continent. In 2022, 50% of investors surveyed from Nigeria said they invested in crypto assets.
By 2023, 46% of these respondents said they would continue investing in digital currencies. Meanwhile, 46% of investors in Ghana bought crypto assets in 2022, but by 2023 this number could jump to 60%.
In contrast, the number of crypto investors in Italy is smaller and is expected to be reduced this year. In addition, 31% of respondents in the country said they bought digital assets in 2022, but that number may reach only 29% in 2023.
What drives investors
Although the crypto market faced severe turbulence in 2022, confidence in the sector has remained unaffected. One reason investors kept their positions in crypto assets was the transparency of blockchain networks.
In addition, the global recognition of the crypto market in the face of regulatory initiatives was noted as a confidence-building factor among investors. In addition to Brazil, other countries are drafting specific legislation for crypto assets.
The interviewed investors also see the sector’s regulation as a moment of caution. Therefore, without clarity about how this legislation will be created in countries like the United States, users of the crypto market are reticent to invest large amounts in digital currencies. In Brazil, crypto regulation will soon come into effect after being sanctioned by the country’s president at the end of 2022.