Majority of US Adults With Income of $50,000 or Less Sold Crypto Holdings During Market Collapse: New Study
A new study shows that US crypto investors falling in the lowest income bracket were the primary group of sellers during the market rout witnessed in recent weeks.
The study conducted by consumer insights platform Civic Sciencereveals
that 65% of US digital asset investors earning $50,000 or less sold all or some of their crypto holdings over the last few weeks.
According to the study conducted last week among adults, 39% of US crypto investors earning $50,000 or less sold all or a lot of their digital assets while 26% of US crypto investors in the same income bracket sold some or a small number of their digital assets.
In the $50,000 – $100,000 income bracket, 48% of US digital asset investors sold all or some of their crypto holdings.
US crypto investors earning six-figure incomes were relatively less affected by the downturn in crypto prices, according to the same study.
In the $100,000 – $150,000 income bracket, 34% of digital asset investors sold all or some of their crypto assets as prices collapsed.
“Unsurprisingly, those with higher income are more willing to weather the storm with their assets.”
Thirty percent of US crypto investors earning $150,000 or more sold all or some of their digital assets as the market tanked.
Source: Civic Science
The Civic Science study further says that among the general population of US crypto investors, close to 25% were impacted by the market collapse or know someone who was.
“Regardless of the ability to bear with the downturn, however, nearly a quarter of the general population has been affected, or know someone who has been, in some way by the flushing out of crypto’s value.”