Despite the drop in Bitcoin prices, many investors are determined not to sell off

In recent months, along with the general recession of the world economy, the cryptocurrency market has also witnessed a downward phase. There are very few reasons to encourage investors to hold Bitcoin and cryptocurrencies in general at the present time.

Not only did the price of Bitcoin and many cryptocurrencies fall, the collapse of many projects and investment funds cast a shadow, contributing to the general gloomy sentiment of the market.

Despite the drop in Bitcoin prices, many investors are determined not to sell off

Despite the downturn, 55% of crypto investors surveyed said they are still holding onto their cryptos, according to a recent survey by Appinio. Only 8% of respondents said they have cut their losses by selling their crypto holdings on the market.

This is a positive signal that a large number of investors still have faith in the growth of Bitcoin in particular and other cryptocurrencies in general. The study also shows that 33% of investors in the US are involved in the crypto market. 40% of investors believe that Bitcoin is the asset that offers the best investment opportunity in the next 3 months.

Looking specifically at US investors, Appinio found that 65% of US respondents still hold crypto investments and are confident in their choices.

Recent data from LookIntoBitcoin shows that the current period is a period when Bitcoin is undervalued compared to its fair value. This is also a good opportunity for those who want to buy and own Bitcoin. Buying Bitcoin at this time can generate outstanding profits.

This is positive news in the context of Bitcoin price remaining around the $20,000 mark. According to Cointelegraph, there are currently only 26,284 wallet addresses holding Bitcoin worth more than $1 million. This also means that 75% of the number of Bitcoin millionaires have disappeared in less than 9 months.

According to Vietnamnet