Particularly, extroverts who are known for an outgoing and sociable nature are more likely to invest in digital assets than equities at 28%, a research by CryptoVantage shared with Finbold on January 24 indicates.
The findings revealed that extroverts are likely to opt for Bitcoin (BTC) at 73%, followed by USDC Coin (USDC) at 50%. Additionally, extroverts are willing to put a significant share of their income in crypto at over $6,200 per year, with returns of 14%.
Interestingly, the study pointed out that the possibility of extroverts going big on crypto is also replicated in returns. In particular, despite last year’s high inflationary environment and the extended bear market the group had the highest returns at $896.98.
Introverts investing trends
On the other hand, introverts were found to be likely to invest in cryptocurrencies during a recession at 79%, pumping about $152.5 in different assets. In this case, introverts also showed the highest preference for Bitcoin at 68%.
“Budgets are typically tighter during an economic downturn, but many respondents reported that they would still invest in crypto during a recession.<…> Personality didn’t just affect how people invested in crypto; it also influenced how much they made on their returns,” the study indicated.
Furthermore, a cryptocurrency’s long-term potential was identified to influence investor decisions. For thinkers at 45%, they showed a likelihood of investing in Ethereum (ETH), citing the asset’s future potential.
In coming up with the findings, the study surveyed 1,000 crypto investors on their investment habits. The personality traits were evaluated based on answers to a set of questions. Therefore, it can be deduced that investing based on personality can influence a trader’s crypto risk tolerance and patience.
New perspective on crypto investment
Notably, the research findings usher a fresh perspective into crypto investment habits considering that historically, the sector has been associated with volatility and emotions. The volatile nature usually results in fear and greed among investors, regardless of the outcome.
In most cases, the rise in crypto prices has led to an increase in fear of missing out (FOMO), contributing to higher prices. On the other hand, investors may panic and sell when the value falls, causing the price to drop further.
In general, the research findings come at the point the crypto market is trading in the green zone led by Bitcoin. A section of the market considers the current gains as a foundation for a new rally.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.