Voyager Digital did a survey to see if participants, most likely crypto enthusiasts, were scared off by the drop and massive selloff that we experienced recently when Bitcoin, as well as many other coins, took a nosedive. 3,671 participated and I can imagine there are way way more people that would have said the same, me included.
For anyone that has been into crypto or stocks for a decent amount of time, this should be a no-brainer. After a dip there is almost always a resurgence and even if there is not one immediately it pays off in the long run. It's one of the rare things that has held true for a very long time, buying the dip is still the way to go for a lot of investors and that is because it is a proven method that has made profits for a lot of people. There is an understated part of this tactic however... know when to sell. That is a hard task but one we'll all be tested in depending on the investment.
As always, there are doubters, history isn't always something to look up to and hope to. Cause not all coins have succeeded and even those that have haven't had a smooth ride but the sentiment here is very important. Often times, especially with stocks, when prices plunge people feel desperate, like they need to pull out while they can and stop the bleeding. It's a panicked state, it might also be the fact that some of those people may have needed the money they earned right then and there but a "crash" or correction happened and they lost it. But it is still a fact that people often panic. In this case people are bullish, extremely bullish and it seems this train will continue rolling for quite a bit, at least until we have another correction like this.
It's important to have this type of data in mind when investing, not because you should follow it blindly but because it helps with understanding the market in general and it allows others to do the work for you in a way, so why not use it. Take that as you will.
Thanks for reading, hope you enjoyed it!
